 "RR Kabel logo (Photo: RR Kabel facebook page)")
Private equity (PE) major TPG-backed RR Kabel has set the price band for its initial public offering (IPO) at Rs 983 to Rs 1,035 per share.
At the upper end, the issue size works out to Rs 1,964 crore, making it the second-largest IPO of the year after Mankind Pharma.
The fresh issue component of the IPO is only Rs 180 crore, and the remaining is a secondary share sale by promoters and TPG. The US-based PE firm is selling shares worth Rs 1,335 crore and stands to make nearly four times the return on its investment.
RR Kabel is the country's fifth-largest manufacturer of wires and cables, with a 7 per cent market share (by value as of March 2023). The company is also involved in the manufacturing of fans, lighting, switches, and appliances.
RR Kabel's revenue from operations and profit for FY23 stood at around Rs 5,600 crore and Rs 190 crore, respectively. The company will be valued at Rs 11,676 crore at the top-end of the price band.
Shreyas Shipping promoter sets delisting floor price at Rs 338
Shreyas Shipping & Logistics Ltd (SSL) has obtained in-principle approval for its proposed delisting from the National Stock Exchange (NSE) and BSE, and promoter Transworld Holdings has announced the indicative price for the delisting bid would be Rs 338 a share. The SSL stock fell 2.6 per cent on Friday to close at Rs 371.2.
The floor price determined, according to delisting regulations, is Rs 292 per share, the firm said. Transworld Holdings, along with its affiliates, holds a 70.44 per cent stake in SSL. The delisting will be done via the reverse book building (RBB) process. For the delisting bid to be successful, the post-RBB shareholding of Transworld has to exceed 90 per cent.
The floor price determined, according to delisting regulations, is Rs 292 per share, the firm said. Transworld Holdings, along with its affiliates, holds a 70.44 per cent stake in SSL. The delisting will be done via the reverse book building (RBB) process. For the delisting bid to be successful, the post-RBB shareholding of Transworld has to exceed 90 per cent.
Jupiter Life Line IPO subscribed 64 times
The initial public offering (IPO) of Jupiter Life Line Hospitals, a multi-specialty healthcare provider, garnered 64 times subscription on Friday. The qualified institutional buyer portion was subscribed 187.32 times, non-institutional investor portion nearly 35 times, and the retail portion 7.73 times. The price band for the issue is Rs 695-735 per share. At the top end, Jupiter’s market cap works out to Rs 4,819 crore. Currently, the company operates three hospitals with a capacity of nearly 1,200 beds.
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Jupiter is in the process of setting up a fourth multi-specialty hospital in Mumbai’s Dombivli. Jupiter will issue new shares worth Rs 542 crore in the IPO, which will be used to pare its debt. The IPO also consisted of a secondary share sale of Rs 327 crore .
