TPG to cut stake in RR Kabel IPO, with potential to quadruple investment returns

TPG, a US-based private equity investor, is planning to cut its stake in RR Kabel through an initial public offering (IPO). The IPO will allow TPG to sell 11% of its stake in the company, reducing its ownership to 6%.

TPG acquired a 21% stake in RR Kabel in 2018 for an average price of Rs 270.08 per share. The IPO price band is set at Rs 935-1035 per share, with the upper end of the band being nearly four times that of TPG’s initial investment.

This means that if TPG sells all of its shares in the IPO, it could potentially quadruple its investment returns. However, it is worth noting that TPG will be subject to a lock-in period of six months after the listing, during which it will not be able to sell or trade its shares.

The RR Kabel IPO is scheduled to open for subscription on September 13 and will close on September 15. The company is aiming to raise Rs 1,964.01 crore from the IPO, which will be used to repay debt and fund future growth initiatives.

The IPO is being managed by Kotak Mahindra Bank, Morgan Stanley, and Axis Capital.

Here are some key takeaways from the article:

• TPG is planning to cut its stake in RR Kabel through an IPO.
• The IPO price band is set at Rs 935-1035 per share.
• If TPG sells all of its shares in the IPO, it could potentially quadruple its investment returns.
• The IPO is scheduled to open for subscription on September 13 and will close on September 15.
• The company is aiming to raise Rs 1,964.01 crore from the IPO.

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