RR Kabel sets IPO price band at Rs 983-1,035 per share
RR Kabel sets IPO price band at Rs 983-1,035 per share Posted by: NILESH WAGHELA Mumbai: RR Kabel IPO |The initial public offering will open for subscription on September 13 and the closing date will be September 15. RR Kabel sets IPO price band at Rs 983-1,035 per share 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 IPO comprises fresh issue of equity shares worth Rs 180 crore and an offer for sale (OFS) of 1,72,36,808 equity shares worth Rs 1,784 crore, at the upper price band, by the promoters and investors. TPG Asia VII SF Pte Ltd will be the largest seller among selling shareholders, offloading 1.29 crore equity shares via OFS, while public shareholder Ram Ratna Wires will be selling its entire shareholding of 13.64 lakh shares in the IPO. Promoters Mahendra...