Gujarat company’s upcoming IPO, opportunity to bet from September 13

Read on the application

RR Kabel IPO: Wire and cable maker RR Cable, backed by global private equity firm TPG, is coming up with an initial public offering (IPO). The IPO will be launched on September 13. While it ends on September 15. Let it be known that new shares worth 180 crore rupees will be issued in the IPO.

At the same time, there is an offer for sale of 1.72 crore equity shares by promoters and investors. Apart from promoters Mahendrakumar Rameshwarlal Kabra, Hemant Mahendrakumar Kabra and Sumit Mahendrakumar Kabra, Cable Buildcon Solutions will sell shares in OFS.

Who owns how much: Public shareholder Ram Ratna Wires will exit the company by selling his 13.64 lakh shares or 1.23 per cent stake through OFS. Similarly, US private equity firm TPG Asia VII SF Pte Ltd will sell 1.29 crore equity shares in the IPO. TPG currently holds 1.85 crore equity shares or 16.67 per cent stake in the Gujarat-based company. The total share of the promoter and promoter group in the company is 66.42 percent.

What is the plan: The company used the proceeds from the fresh issue mainly Rs. 136 crore to repay the debt and the remaining amount for general corporate purposes. Let us tell you that Axis Capital, HSBC Securities and Capital Markets (India), Citigroup Global Markets India and JM Financial are the merchant bankers of this issue. Its listing is expected to take place on September 26.

Leave a Comment