{"id":108503,"date":"2023-08-30T21:20:00","date_gmt":"2023-08-30T15:50:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=108503"},"modified":"2023-08-30T19:31:18","modified_gmt":"2023-08-30T14:01:18","slug":"the-sebi-approves-the-ipo-of-tpg-capital-backed-rr-kabel","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/the-sebi-approves-the-ipo-of-tpg-capital-backed-rr-kabel\/","title":{"rendered":"The Sebi approves the IPO of TPG Capital-backed RR Kabel"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-469870287\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The capital markets regulator Sebi has given the TPG Capital-backed wires and cable producer RR Kabel Ltd the green light to seek money through an Initial Public Offering (IPO).<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2211988543\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>According to the Draft Red Herring Prospectus (DRHP), the IPO consists of a new issue of equity shares with a maximum value of Rs 225 crore and an offer for sale (OFS) of more than 1.72 crore equity shares by the promoters and other shareholders.<\/p><p>The company, which filed draft IPO papers with the regulator in May, obtained its observations letter on August 24, an update with the Securities and Exchange Board of India (Sebi) showed on Tuesday.<\/p><p>In Sebi&#8217;s parlance, obtaining its observation letter means its clearance to float the public issue.<\/p><div class=\"trade-content_5\" id=\"trade-2150103383\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>According to the draft papers, Mahendrakumar Rameshwarlal Kabra, Hemant Mahendrakumar Kabra, Sumeet Mahendrakumar Kabra, Kabel Buildcon Solutions Pvt Ltd, and Ram Ratna Wires Ltd are selling shares in the OFS.<\/p><p>Apart from these, US-based private equity firm TPG Capital, which holds a 21 per cent stake in RR Kabel, will partly sell its stake in the company as part of the OFS.<\/p><p>The company plans to use the net proceeds of Rs 170 crore from new issuance to pay down all or a portion of the debt it has borrowed from banks and other lending organizations.<\/p><p>RR Kabel, part of RR Global Group, reported a net profit of Rs 214 crore and revenues of Rs 4,386 crore in 2021-22. For the nine months ended December 2022, the company reported a net profit of Rs 125 crore and revenues of Rs 4,083 crore.<\/p><p>The equity shares of the company are proposed to be listed on the BSE and the NSE.&nbsp;<\/p><div class=\"trade-after-content\" id=\"trade-2393470175\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The capital markets regulator Sebi has given the TPG Capital-backed wires and cable producer RR Kabel Ltd the green light to seek money through an Initial Public Offering (IPO). According to the Draft Red Herring Prospectus (DRHP), the IPO consists of a new issue of equity shares with a maximum value of Rs 225 crore [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":18020,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-108503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Sebi approves the IPO of TPG Capital-backed RR Kabel - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/the-sebi-approves-the-ipo-of-tpg-capital-backed-rr-kabel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Sebi approves the IPO of TPG Capital-backed RR Kabel\" \/>\n<meta property=\"og:description\" content=\"The capital markets regulator Sebi has given the TPG Capital-backed wires and cable producer RR Kabel Ltd the green light to seek money through an Initial Public Offering (IPO). 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