{"id":109801,"date":"2023-09-13T11:09:58","date_gmt":"2023-09-13T05:39:58","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=109801"},"modified":"2023-09-13T11:10:04","modified_gmt":"2023-09-13T05:40:04","slug":"before-the-ipo-rr-kabel-collects-more-than-rs-585-cr-from-anchor-investors","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/before-the-ipo-rr-kabel-collects-more-than-rs-585-cr-from-anchor-investors\/","title":{"rendered":"Before the IPO, RR Kabel collects more than Rs 585 Cr from anchor investors"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2203984694\"><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>On Tuesday TPG-backed wires and cables manufacturer RR Kabel Ltd said that it has mobilised Rs 585.62 crore from anchor investors ahead of its initial share sale.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1682838816\"><!-- 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 a circular uploaded on the NSE, an average price of Rs 1,035 apiece, the company has allocated 56,58,201 equity shares to 54 entities.<\/p><p>HDFC Mutual Fund, Axis Mutual Fund, Nippon India Mutual Fund, Aditya Birla Sun Life Mutual Fund, SBI Life Insurance, HDFC Life Insurance Company, Abu Dhabi Investment Authority, Morgan Stanley Asia (Singapore) Pte, Elara India Opportunities Fund, and Government Pension Fund Global are among the anchor investors.<\/p><p>The public is now accepting subscriptions for RR Kabel&#8217;s Rs 1,964 crore Initial Public Offering (IPO), which includes both a fresh issue of shares worth up to Rs 180 crore and an offer for sale (OFS) of more than 1.72 lakh shares by the company&#8217;s promoters and other external shareholders.<\/p><div class=\"trade-content_5\" id=\"trade-82436817\"><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>The promoters\/promoter entities will sell 3-4 per cent of their holdings but will still continue to hold 64 per cent in the company by the OFS. Those selling shares in the OFS include Mahendrakumar Rameshwarlal Kabra, Hemant Mahendrakumar Kabra, Sumeet Mahendrakumar Kabra, Kabel Buildcon Solutions and Ram Ratna Wires.<\/p><p>Among shareholders, TPG will pare its shareholding to around 5 per cent through the share sale. In the pre-IPO process last month, TPG sold 5 per cent of its 21 per cent holding, which it had picked up in September 2018 for Rs 3,000 crore.<\/p><p>RR Kabel has fixed the price band at Rs 983-1,035 for the IPO. At the upper end of the price band, the issue will fetch up to Rs 1,964 crore.<\/p><p>88 per cent of company revenue comes from cable and wires. The company runs five manufacturing units &#8211; one each cable and wire unit in Wagodia in Gujarat and in the Union Territory of Silvasa, a commercial lightings plant in Bengaluru and one each fast moving electrical goods (FMEG) unit in Roorki in Uttarakhand and Gagret in Himachal.&nbsp;<\/p><p>To pare down debt, the company proposes to utilise Rs 136 crore of the net proceeds from the fresh issue.<\/p><p>RR Kabel, a part of the RR Global Group, had a net profit of Rs 214 crore on a revenue of Rs 4,386 crore in FY22.<\/p><div class=\"trade-content-10\" id=\"trade-3038605787\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\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>The company has also reserved Rs 10.8 crore shares for eligible employees who will receive shares at a discount of Rs 98 per share on the final offer price.<\/p><p>The book-running lead managers to the issue are Axis Capital, Citigroup India, HSBC Securities India and JM Financial.&nbsp;<\/p><div class=\"trade-after-content\" id=\"trade-3248806226\"><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>On Tuesday TPG-backed wires and cables manufacturer RR Kabel Ltd said that it has mobilised Rs 585.62 crore from anchor investors ahead of its initial share sale. According to a circular uploaded on the NSE, an average price of Rs 1,035 apiece, the company has allocated 56,58,201 equity shares to 54 entities. HDFC Mutual Fund, [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":109807,"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":[1696,31],"tags":[],"class_list":["post-109801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","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>Before the IPO, RR Kabel collects more than Rs 585 Cr from anchor investors - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"On Tuesday TPG-backed wires and cables manufacturer RR Kabel Ltd said that it has mobilised Rs 585.62 crore from anchor investors ahead of its initial share sale.\" \/>\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\/before-the-ipo-rr-kabel-collects-more-than-rs-585-cr-from-anchor-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Before the IPO, RR Kabel collects more than Rs 585 Cr from anchor investors\" \/>\n<meta property=\"og:description\" content=\"On Tuesday TPG-backed wires and cables manufacturer RR Kabel Ltd said that it has mobilised Rs 585.62 crore from anchor investors ahead of its initial share sale.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/before-the-ipo-rr-kabel-collects-more-than-rs-585-cr-from-anchor-investors\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-13T05:39:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T05:40:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/09\/RR-KABEL-CABLE.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/before-the-ipo-rr-kabel-collects-more-than-rs-585-cr-from-anchor-investors\/\",\"url\":\"https:\/\/tradebrains.in\/features\/before-the-ipo-rr-kabel-collects-more-than-rs-585-cr-from-anchor-investors\/\",\"name\":\"Before the IPO, RR Kabel collects more than Rs 585 Cr from anchor investors - 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