Transrail Lighting IPO to Open on December 19, 2024, Aiming to Raise ₹838.91 Crore
- Price Band Set at ₹410 to ₹432 per Share with Minimum Lot Size of 34 Shares
- Proceeds to Fund Working Capital, Capital Expenditure, and General Corporate Purposes
BILKULONLINE
Ahmedabad, Dec 18: Transrail Lighting Limited, a leading player in power transmission and distribution, has announced its Initial Public Offering (IPO) set to open on December 19, 2024. The issue, a book-built offering, aims to raise ₹838.91 crore, comprising a fresh issue of ₹400 crore (0.93 crore shares) and an Offer for Sale (OFS) of ₹438.91 crore (1.02 crore shares).
The IPO will close on December 23, 2024, with shares listing on BSE and NSE on December 27, 2024.
Randeep Narang MD & CEO, Digambar Bagde, Promoter & Executive Chairman, Shivam Vashi, Inga Ventures, Ajit Pratap Singh CFO with Arjun Jani , Axis Capital Limited and Pinank Turakhia from IDBI Capital Markets & Securities Ltd were present to interact with the media in Ahmedabad on Tuesday.
Price Band and Subscription Details
The price band for the IPO is set at ₹410 to ₹432 per share, with a minimum application lot size of 34 shares, amounting to ₹14,688 for retail investors. The issue is divided into three categories: retail investors, Qualified Institutional Buyers (QIBs), and Non-Institutional Investors (NIIs). The IPO is expected to attract significant attention, given Transrail Lighting’s growth in engineering and construction, particularly in power and railway services.
Company Overview
Incorporated in February 2008, Transrail Lighting specializes in the supply, engineering, procurement, and construction of transmission and distribution lines. The company also manufactures lattice structures, conductors, and monopoles. Additionally, Transrail provides services in civil construction, railway overhead electrification, and track linking. It has been a significant player in power transmission, distribution, and lighting segments, serving both domestic and international markets.
Use of Proceeds
The proceeds from the IPO will be used to fund working capital requirements, capital expenditure, and general corporate purposes, aiding the company’s growth and expansion efforts.
Promoters and Management
The promoters of Transrail Lighting include Ajanma Holdings Private Limited, Digambar Chunnilal Bagde, and Sanjay Kumar Verma. The company aims to leverage the IPO funds to strengthen its position in the growing power transmission and infrastructure sector.
Key Dates
IPO Opening Date: December 19, 2024
IPO Closing Date: December 23, 2024
Allotment Date: December 24, 2024
Listing Date: December 27, 2024
Transrail Lighting’s IPO presents an exciting opportunity for investors seeking exposure to India’s rapidly growing infrastructure and power sectors.
Disclaimer: Readers are advised to carefully study the IPO prospectus and consult their financial advisors before making any investment decisions.
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