May 8, 2023: TPG-backed RR Kabel, one of India’s leading electrical cable manufacturers, has filed its initial public offering (IPO) papers with the Securities and Exchange Board of India (SEBI) for a sum of INR 225 crore.
However, what makes this filing unique is that the company is looking to reward its long-term employees by allocating up to 5% of the issue size to them.
This move by RR Kabel is a testament to its commitment to its employees and their contributions to the company’s success.
The company, which has been in business for over 25 years, has built a strong reputation for its quality products, innovative solutions, and customer-centric approach.
With the funds raised from the IPO, RR Kabel plans to expand its manufacturing capabilities, invest in research and development, and strengthen its distribution network.
The company is well-positioned to capitalize on the growing demand for electrical cables in India and other emerging markets.
Commenting on the IPO filing, Shreegopal Kabra, CEO of RR Kabel, said, “We are excited to take this next step in our journey and are grateful for the support of our employees, customers, and investors.
By allocating a portion of the issue size to our long-term employees, we hope to recognize their contributions and foster a culture of ownership and collaboration.”
The IPO is being managed by Axis Capital and ICICI Securities, and the company plans to list its shares on the BSE and NSE.
This filing marks a significant milestone for RR Kabel, and it will be interesting to see how the market responds to this unique offering.
| Are you an
Entrepreneur or Startup? Do you have a Success Story to Share? SugerMint would like to share your success story. We cover entrepreneur Stories, Startup News, Women entrepreneur stories, and Startup stories
|
Read more Business Stories at SugerMint. Follow us on Twitter, Instagram, Facebook, LinkedIn for latest company news and corporate updates.