Wire-cable maker Yn company will bring IPO of Rs 225 crore, told SEBI in the file DRHP

RR Cable IPO: RR Kabel, the country’s number five wire-cable maker in the country, has submitted its documents to SEBI. After getting approval from SEBI for its IPO, its initial public offer may come soon. RR Kabel plans to raise Rs 225 crore through this IPO and plans to repay or prepay its debt with this amount.

There is no fixed date for when this IPO of RR Kabel will come in the market to partially or fully repay the loans taken from banks or financial institutions. TPG Capital-backed wire and cable maker RR Kabel has filed Direct Red Hearing Prospectus (DERHP) with Sebi on Sunday for its initial public offer.

According to the document submitted with SEBI, RR Kabel is planning to raise Rs 225 crore through IPO. For this, the company will raise Rs 225 crore through new issue shares. In this, 1.72 crore shares will be issued through promoters and equity shareholders.

Who is selling their shares

Promoters selling shares in RR Kabel’s IPO include Mahendrakumar Rameshwarlal Kabra, Hemant Mahendra Kumar Kabra, Sumit Mahendra Kumar Kabra, Kabel Buildcon Solutions Pvt Ltd and Ram Ratan Wires Ltd. Apart from this, private equity firm TPG Asia Private Limited has 20.99 percent shares of RR Kabel and some part of this will be sold through the company’s IPO.

Know the financial status of the company

RR Kabel, which is part of the RR Kabel Group, has registered a profit of Rs 214 crore in FY2022 and a revenue of Rs 4386 crore. Apart from this, in the first 9 months of FY 2022 i.e. till December 2022, it had achieved a profit of Rs 125 crore and a revenue of Rs 4083 crore.

These will be the lead managers of the IPO

Axis Capital Limited, HSBC Securities & Capital Markets (India) Private Limited, Citigroup Global Markets India Limited and JM Financial Limited are the Book Running Lead Managers to the IPO.

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