RR Kabel – a leading manufacturer of wires and cables in India has filed for an initial public offering (IPO) with the Securities and Exchange Board of India (SEBI). Here is the RR Kabel IPO Date, Price, Allotment Everything You Need to Read Before Investing. The company aims to raise around Rs 225 crore through the IPO. As per the Draft Red Herring Prospectus (DRHP) filed with SEBI, the IPO will comprise a fresh issue of shares worth Rs 100 crore and an offer for sale of up to 1,75,00,000 equity shares by the promoter group and private equity firm Welspun Enterprises.
RR Kabel IPO Date, Price, Allotment
The funds raised from the IPO will be used to repay the borrowings fund’s working capital requirement and meet general corporate purposes. RR Kabel plans to use Rs 80 crore from the net proceeds of the IPO to repay its borrowings.
RR Kabel – part of the Mumbai-based Ram Ratna Group, is a leading manufacturer of wires and cables used in various sectors, including real estate, infrastructure and renewable energy. The company has a strong presence in the Indian market and exports its products to over 80 countries.
The wires and cables industry in India has been growing at a steady pace which is driven by the country’s rapid urbanization and infrastructure development. RR Kabel’s strong market position and extensive product portfolio make it well-positioned to capitalize on this growth.
The lead managers to the RR Kabel Initial Public Offer are ICICI Securities, Axis Capital and IIFL Securities. The shares of RR Kabel will be listed on the BSE and NSE.
The filing of the DRHP is the first step toward the IPO process. SEBI will review the document and provide its comments and observations, following which RR Kabel can proceed with the IPO launch. Read more latest business news here and stay tuned for upcoming articles.