In a significant move, RR Kabel Ltd., a prominent player in the Indian consumer electrical segment with backing from TPG, has garnered the green light from the Securities and Exchange Board of India (Sebi) for its plans to generate funds through an initial public offering (IPO) valued at ₹225 crore.
As a key entity within the esteemed RR Global Group, RR Kabel has been a steadfast presence in the industry for more than two decades. This well-established company is engaged in the manufacturing of wires, cables, and fast-moving electrical goods (FMEG). In the fiscal year 2022, the company exhibited commendable financial performance, registering revenues of ₹4,386 crore and a net profit of ₹214 crore.
The IPO blueprint entails a fresh issuance of equity shares, collectively amounting to ₹225 crore, alongside an offer for sale (OFS) involving up to 1.72 crore shares by both promoters and shareholders.
Earmarking the IPO proceeds, RR Kabel’s strategic agenda encompasses the repayment of debt, either partially or entirely, to banks and financial institutions, while also bolstering general corporate initiatives.
Prominent entities participating in the OFS include Mahendrakumar Rameshwarlal Kabra, Hemant Mahendrakumar Kabra, Sumeet Mahendrakumar Kabra, Kabel Buildcon Solutions Private Ltd, and Ram Ratna Wires Ltd.
TPG Asia VII SF Pte Ltd, a well-regarded US-based private equity firm holding a noteworthy 20.99% stake in RR Kabel, is poised to divest a portion of its shareholding through the IPO.
Steering the IPO’s execution are Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, Citigroup Global Markets India Private Limited, and JM Financial Limited, all playing instrumental roles in this pivotal financial undertaking.
About RR Kabel:
RR Kabel, an integral component of the RR Global Group, has a track record spanning more than two decades in the industry. This firm specializes in the production of wires, cables, and fast moving electrical goods (FMEG). During the fiscal year 2022, RR Kabel achieved a remarkable milestone with revenues amounting to ₹4,386 crore and a net profit of ₹214 crore.
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