Global law firm White & Case LLP has advised the book running lead managers on the initial public offering (IPO) of R R Kabel Limited, a leading Indian wire and cable supplier backed by TPG Asia VII SF Pte. Ltd.
"This significant IPO received a strong positive response from investors, raising approximately INR 19.64 billion, or US$235 million, and with the issue oversubscribed by 18 times and listed at a premium of 15.43 percent," said White & Case partner Rahul Guptan who co-led the Firm's deal team. "Helping the client successfully complete this IPO demonstrates our capabilities in the Indian market and the consumer industry. The transaction was complex as R R Kabel had acquired two businesses prior to the IPO requiring analysis of ownership and usage of various intellectual property rights."
R R Kabel Limited is one of the leading companies in the Indian electrical sector, producing wires and cables, switches and fast moving electrical goods used for residential, commercial, industrial and infrastructure purposes.
TPG Asia VII SF Pte. Ltd., which is a significant investor in R R Kabel Limited, sold shares amounting to INR 13.35 billion (approximately US$160 million) as part of the IPO.
Axis Capital Limited, Citigroup Global Markets India Private Limited, HSBC Securities and Capital Markets (India) Private Limited and JM Financial Limited acted as the book running lead managers for the transaction.
The White & Case team which advised on the transaction was led by partners Rahul Guptan and Kaya Proudian (both Singapore), with support from partner Steven Gee (New York), local partner James Hsiao (Hong Kong), and associates Rachna Talati and Ji Yang Lim (both Singapore), Paul Qu and Royston Tan (both Hong Kong) and Daniel Park (New York).
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