RR Kabel, a fast-moving electrical goods manufacturing company, has set a price band of ₹983-1,035 per equity share for its initial public offering to raise ₹1,964 crore.

Bids can be made for a minimum of 14 equity shares and in multiples of 14 thereafter. The issue will open on Wednesday. The offer comprises a fresh issue of equity shares aggregating up to ₹180 crore and an offer for sale up to 1.72 crore equity shares by selling shareholders.

The company offers a discount of ₹98 a share to eligible employees bidding in the Employee Reservation Portion. The anchor investor bidding will open on Tuesday. The shares are likely to be listed on September 26 on BSE and NSE.

The company will use the proceeds raised through the fresh issue towards repayment of loan estimated at ₹136 crore and balance amount towards general corporate purposes.

The offer for sale comprises about 1.29 crore shares by TPG Asia VII SF, 7.54 lakh equity shares by Mahendrakumar Rameshwarlal Kabra, Hemant Mahendrakumar Kabra and Sumeet Mahendrakumar Kabra; about 7.07 lakh shares by Kabel Buildcon Solutions and 13.64 lakh shares by Ram Ratna Wires.

RR Kabel provides consumer electrical products used for residential, commercial, industrial, and infrastructure purposes and operates in two broad segments — wires and cables and FMEG (fast moving electrical goods), including fans, lights, switches and appliances.

Published on September 8, 2023