RR Kabel files DRHP with SEBI
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TPG Capital-backed wires and cables manufacturer RR Kabel has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to Rs 225 crore and an offer for sale (OFS) of over 1.72 crore equity shares by promoters and other shareholders.
The company proposes to utilise the net proceeds to the tune of Rs 170 crore from fresh issues to pare down, in full or in part, debt availed from banks and financial institutions. Axis Capital, HSBC Securities and Capital Markets (India), Citigroup Global Markets India, and JM Financial are the book-running lead managers to the issue.
RR Kabel, part of RR Global Group, is a leading company in the Indian consumer electrical industry comprising wires and cables and fast-moving electrical goods.
