The ₹1,964 crore initial public offering of RR Kabel opens to public today. The issue, which comes out with a price band of ₹983-1.035, will close on September 15.

The Lot size 14 equity shares

The IPO comprises fresh issue of equity shares worth ₹180 crore and an offer-for-sale (OFS) of 1.72 crore shares worth ₹1,784 crore, by the promoters and investors. TPG Asia VII SF Pte Ltd will offload 1.29 crore equity shares via OFS, while public shareholder Ram Ratna Wires, promoters Mahendrakumar Rameshwarlal Kabra, Hemant Mahendrakumar Kabra, and Sumeet Mahendrakumar Kabra and Kabel Buildcon Solutions will be other selling shareholders in the OFS.

• Also Read: RR Kabel fixes IPO price at ₹983-1,035 a share

The consumer electrical product maker will use net fresh issue proceeds mainly to repay debt amounting to ₹136 crore, and the remainder on general corporate purposes. 

As part of IPO, the Gujarat-based wire & cables manufacturing company has raised ₹585.62 crore from anchor investors on Tuesday by deciding to allocate 56.58 lakh shares at ₹1,035 each. According to a disclosures on the exchanges, the company said 54 investors participated in the anchor book including marquee investors such as Abu Dhabi Investment Authority, Government Pension Fund Global, HSBC Global, Ashoka Whiteoak ICAV, Carmignac Portfolio, TIMF Holdings, 3P India Equity Fund, Elara India Opportunities Fund, and Morgan Stanley Asia (Singapore).

• Also Read: RR Kabel files draft IPO papers to raise Rs 225 crore through fresh issue of equity

Domestic investors such as HDFC Mutual Fund, ICICI Prudential, Axis Mutual Fund, Aditya Birla Sun Life Trustee, Kotak Mutual Fund, Nippon Life India Trustee, Mirae Asset, Franklin Mutual Fund, Bandhan Mutual Fund, Tata Mutual Fund, SBI Life Insurance, HDFC Life Insurance Company, and Max Life Insurance also invested in RR Kable via the anchor book.