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RR Cable IPO: Electric Goods Manufacturing Company RR Cable is preparing to launch its IPO (RR Kabel IPO). The company can raise Rs 2500 crore from the market through IPO. For this, the company has hired Axis Securities, JM, Citi and HSBC as investment banks to bring the IPO.
RR Kabel is preparing to file a draft paper to launch an IPO with the stock market regulator SEBI in 2023 next year. It is believed that the draft paper can be filed with SEBI in May 2023. And in the financial year 2023-24, if the market conditions are better, the company can be listed on the stock exchange. RR Kabel is a subsidiary of Electric sector giant RR Global which has its presence in around 90 countries. It is believed that US private equity investor TPG Capital may sell its 10 to 11 per cent stake in the IPO. TPG Capital has a total stake of 21 per cent in the company. Fresh shares will be issued in the rest of the IPOs. On bringing IPO, the company can get a valuation of Rs 14000 to 15000 crores.
The company expects that the revenue can be Rs 6000 crore in 2022-23 with a jump of 25 percent. The company’s revenue in 2021-22 was Rs 4800 crore. The company is aiming to increase the turnover to Rs 11,000 crore in the next three years by 2025-26. Along with this, the company is also going to spend Rs 1000 crore as capital expenditure to increase the capacity.
RR Kabel manufactures premium wires and cables for residential, commercial, industrial and infrastructure needs. With this, the company is going to step into new areas. In the same year, RR Kabel bought the home electrical business of Luminous from Schneider Electric. With this acquisition, the company will be helped in strengthening the consumer electricals business.
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