RR Kabel set price band at Rs 983-1,035 per share for IPO
Ahmedabad, Global private equity firm TPG-backed RR Kabel has set the price band at Rs 983-1,035 per share for its maiden public issue, as per the advertisement published by the company in newspapers. The fund raising via IPO would be Rs 1,964 crore at the upper price band.
The Offer also includes a reservation of Equity Shares aggregating up to Rs.108 million that will be available for allocation on a proportionate basis to certain eligible employees of the Company (“Employee Reservation Portion”) in the manner described in the red herring prospectus dated September 6, 2023 (“RHP”) filed with the Registrar of Companies, Maharashtra at Mumbai.
A discount of Rs.98 per Equity Share is being offered to eligible employees bidding in the Employee Reservation Portion. The Offer less the Employee Reservation Portion is the “Net Offer”.
The Price Band of the Offer has been fixed at Rs. 983 to Rs.1,035 per Equity Share. Bids can be made for a minimum of 14 Equity Shares and in multiples of 14 Equity Shares thereafter. The Company proposes to utilize the proceeds raised through the Fresh Issue towards Repayment or prepayment, in full or in part, of borrowings availed by the Company from banks and financial institutions estimated to be Rs. 1,360 million; and balance amount towards general corporate purposes.
The Offer for Sale comprises of up to 754,417 Equity Shares by Mahendrakumar Rameshwarlal Kabra; up to 754,417 Equity Shares by Hemant Mahendrakumar Kabra; 754,417 Equity Shares by Sumeet Mahendrakumar Kabra;
up to 707, 200 Equity Shares by Kabel Buildcon Solutions Private Limited, up to 1,364,480 Equity Shares by Ram Ratna Wires Limited, and up to 12,901,877 Equity Shares by TPG Asia VII SF Pte.Ltd (“Investor Selling Shareholder”).
The Anchor Investor Bidding Date shall be Tuesday, September 12, 2023. The Offer will open on Wednesday, September 13, 2023 for subscription and will close on Friday, September 15, 2023.
