TPG Capital

TPG Capital-backed wires and cables manufacturer RR Kabel Ltd has received capital markets regulator Sebi's go-ahead to raise funds through an Initial Public Offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to Rs 225 crore and an Offer For Sale (OFS) of over 1.72 crore equity shares by promoters and other shareholders, according to the Draft Red Herring Prospectus (DRHP). The company, which filed draft IPO papers with the regulator in May, obtained its observations letter on August 24, an update with the Securities and Exchange Board of India (Sebi) showed on Tuesday. In Sebi's parlance, obtaining its observation letter means its clearance to float the public issue. According to the draft papers, Mahendrakumar Rameshwarlal Kabra, Hemant Mahendrakumar Kabra, Sumeet Mahendrakumar Kabra, Kabel Buildcon Solutions Pvt Ltd, and Ram Ratna Wires Ltd are selling shares in the OFS. Apart from these, US-based private equity firm TPG Capital, which holds a 21 pe

About 3.1 crore shares worth Rs 4,832 crore have been offered by the company to institutional investors

American private equity firm TPG Capital is likely to sell shares of Nykaa worth Rs 1,000 crore through a block deal

According to sources, TPG, which has investments in several firms domestically as well as globally, doesn't want to be at odds with voting advisory firms and shareholders over any governance issues

Shareholders of Shriram Transport Finance Company had recently voted against Bhatia's reappointment as director

The bank's net non-performing assets were at 1.72 per cent of net advances as on October 31, 2019 and gross non- performing assets stood at 3.98 per cent on AUM.

The halt came as debt concerns spread at lenders, including Indiabulls Housing Finance and a regional bank.

The Tatas are in discussions with a clutch of PE funds to gauge their interest and may offer anything between 10 and 15 per cent in Tata Capital Financial Services

TPG is also a big player globally in stressed assets