TPG Asia to sell 5% stake in RR Kabel in a block deal

29 May 2024 , 10:57 PM

US-based private equity firm TPG Asia is planning to sell its entire 5% stake in wire and cable manufacturer RR Kabel Ltd through block deals. This transaction involves offloading over 56 lakh shares at approximately ₹1,718 per share, amounting to around ₹1,000 crore.

RR Kabel Ltd, a part of RR Global Group, is a prominent player in the Indian consumer electrical industry, specializing in wires and cables as well as fast-moving electrical goods (FMEG). The company boasts over 20 years of operating history in India and has demonstrated significant growth in recent years.

RR Kabel has been the fastest-growing consumer electrical company among its peers in India, with a compound annual growth rate (CAGR) of 33% between FY20 and FY22. It is also the largest exporter of wires and cables from India by value, holding about an 11% market share in exports. Additionally, RR Kabel has one of the most extensive networks of electricians, covering 147,810 electricians across India.

Shares of RR Kabel Ltd closed at ₹1,718.25 on the BSE, down by ₹86.35 or 4.78%.