Investing
RR Kabel Files IPO Papers For INR 225 Crore
![](https://personalfinancedefined.com/wp-content/uploads/2023/05/1683542232-Untitleddesign-2023-05-08T160318826.jpg)
Entrepreneur
You’re reading Entrepreneur India, an international franchise of Entrepreneur Media.
TPG Capital-backed wires and cables manufacturer RR Kabel Ltd has filed preliminary papers with capital markets regulator SEBI to raise funds through an initial public offering (IPO), according to a PTI report.
The IPO comprises a fresh issue of equity shares aggregating up to INR 225 crore and an offer for sale (OFS) of over 1.72 crore equity shares by promoters and other shareholders, according to the draft red herring prospectus (DRHP). The proceeds from the IPO will be used towards funding repayment or prepayment of loans taken from banks and financial institutions, estimated at INR 170 crore.
Besides the four promoter groups selling shareholders, US-based private equity firm TPG Asia VII SF Pte Ltd is looking to sell up to 12.9 million shares. The PE player currently holds a 20.99% stake in RR Kabel, with 23.3 million shares. The other selling shareholder is Ram Ratna Wires Ltd, which has put its entire 1.23 per cent stake or 1.36 million shares on offer, said the DRHP.
RR Kabel, part of RR Global Group, posted a net profit of INR 214 crore and revenues of INR 4,386 crore in the financial year 2021-22 (FY22). For the nine months ended December 2022, the company reported a net profit of INR 125 crore and revenues of INR 4,083 crore, as per the report.
RR Kabel is claimed to be one of the fastest growing consumer electrical companies in India, having a strong presence in wires and cables, and fast-moving electrical goods (FMEG).
Read the full article here
![](https://personalfinancedefined.com/wp-content/uploads/2023/02/pf-logo.png)
-
Investing6 days ago
Mark Zuckerberg Reveals the Future Meta AI, Tech Industry
-
Personal Finance4 days ago
Today's mortgage rates rise for 15- and 30-year terms | July 2, 2024
-
Passive Income4 days ago
What’s Former ‘Jeopardy!’ Host Mayim Bialik Up to Now?
-
Side Hustles6 days ago
A Buddy’s Franchise is Built for Success in a Recession Resistant Industry
-
Investing5 days ago
Floor & Decor Holdings stock slides after Spruce Point short report By Investing.com
-
Passive Income6 days ago
Warren Buffett Changes His Will, Gates Foundation Donations
-
Side Hustles6 days ago
The Key to Preparing Your Business for an Eventual Investment or Sale
-
Side Hustles4 days ago
Improve Your Vocabulary in Just 10 Minutes a Day With This App, Now $9.99