Save money in pocket, wire making company will give opportunity to earn, great IPO is coming - Newztezz Online

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Monday, May 8, 2023

Save money in pocket, wire making company will give opportunity to earn, great IPO is coming

RR Cable is giving a great opportunity to share market investors to earn extra income. This is the country's top 5 cable and wire manufacturing company, which is preparing to bring IPO in the market.

If you also want to earn fast, then you have a great opportunity. Cable and wire manufacturing company is going to bring its IPO soon. In such a situation, if you also invest money in IPO or share market and want to earn from it, then this can be a great opportunity for you.

Actually, RR Cable is giving a great opportunity to the investors of the share market to earn extra income. RR Cable is a top 5 cable and wire manufacturing company in the electronic industry, which is preparing to bring its IPO to the market soon. Let me tell you, the company is trying to raise funds from the IPO money. For this, he has completed all his formalities with the market regulator SEBI.

Company will raise funds through IPO

Let us tell you, the company will use the money collected in the IPO to repay its debt. Under the IPO, the company will issue fresh equity shares worth Rs 225 crore. Out of which promoters and other shareholders will sell more than 1.72 crore equity shares. Apart from this, US private equity firm TPG Capital can also sell some of its stake. RR Cable has a 21 per cent stake in TPG Capital. According to the information, the fund of 170 crores raised from the new shares will use the IPO funds to repay the debt.

The company earned a net profit of 214 crores.

RR Cable has made a net profit of 214 crores in the financial year 22. At the same time, in the last financial year, RR Cable Group has generated a revenue of Rs 4386 crore. RR Cable is the most leading company in the electronic industry, which is now preparing to bring its IPO in the market.

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