Sunil Shankar Matkar
September 12, 2023 / 10:46 PM IST
Gujarat-essentially based wire & cables manufacturing firm RR Kabel has raised Rs 585.62 crore from anchor traders on September 12, earlier than its public self-discipline opening.
Entire 54 traders participated in the anchor guide together with marquee traders such as Abu Dhabi Funding Authority, Authorities Pension Fund Global, HSBC Global, Ashoka Whiteoak ICAV, Carmignac Portfolio, TIMF Holdings, 3P India Fairness Fund, Elara India Opportunities Fund, and Morgan Stanley Asia (Singapore).
Domestic traders such as HDFC Mutual Fund, ICICI Prudential, Axis Mutual Fund, Aditya Birla Sun Life Trustee, Kotak Mutual Fund, Nippon Life India Trustee, Mirae Asset, Franklin Mutual Fund, Bandhan Mutual Fund, Tata Mutual Fund, SBI Life Insurance, HDFC Life Insurance Company, and Max Life Insurance moreover invested in RR Kable by the anchor guide.
The world deepest equity firm TPG-backed firm acknowledged it has finalised allocation of 56,58,201 equity shares to anchor traders at a impress of Rs 1,035 per fragment.
The worth band for the offer has been mounted at Rs 983-1,035 per fragment.
RR Kabel will seemingly be opening its Rs 1,964-crore public self-discipline on September 13. The IPO comprises original self-discipline of equity shares worth Rs 180 crore and a proposal-for-sale (OFS) of 1,72,36,808 equity shares worth Rs 1,784 crore, at the upper impress band, by the promoters and traders.
Moreover read: SME Update | Jiwanram Sheoduttrai IPO subscribed 105 times, Meson Valves will get expose 165 times on final day
TPG Asia VII SF Pte Ltd may perchance perchance perchance well be the largest vendor amongst promoting shareholders, offloading 1.29 crore equity shares by OFS, whereas public shareholder Ram Ratna Wires, promoters Mahendrakumar Rameshwarlal Kabra, Hemant Mahendrakumar Kabra, and Sumeet Mahendrakumar Kabra, as properly as Kabel Buildcon Solutions, a ingredient of the promoter community, will seemingly be different promoting shareholders in the OFS.
The self-discipline will shut on September 15.
The patron electrical product maker will spend web original self-discipline proceeds essentially for repaying debt amounting to Rs 136 crore, and the relaxation on overall corporate capabilities. It had an worthy borrowings of Rs 777.3 crore as of August 28.
Moreover read: Updater Products and companies will get Sebi nod to dart forward with IPO plans
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