RR Kabel gets Sebi approval to raise ₹225 crore via IPO
₹225 crore through an initial public offering (IPO). RR Kabel is a part of the RR Global Group and has been in operation for over 20 years.
The company manufactures wires and cables, as well as fast moving electrical goods (FMEG). In financial year 2022, RR Kabel reported revenues of ₹4,386 crore and a net profit of ₹214 crore.
The IPO will consist of a fresh issue of equity shares aggregating up to ₹225 crore and an offer for sale (OFS) of up to 1.72 crore shares by promoters and shareholders. The company plans to use the IPO proceeds to repay debt, in part or in full from banks and financial institutions, and general corporate purposes.
Among those selling shares 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 US-based private equity firm, which holds a 20.99% stake in RR Kabel, will be selling some of its stake in the company through the IPO.
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