Transrail Lighting IPO fully subscribed within hours of launch; check subscription, price band, offer size and other key details

The mainboard issue was fully booked within hours of launch as the investors across categories applied for over 1.46 crore shares against 1.39 crore shares on offer. The IPO was booked 1.27 times till 2:33 pm on the first day, as per the NSE data.

The retail investors led the demand for the IPO shares by booking their quota 2.06 times. The retail category received bids for more than 1.40 crore shares compared to 68.08 lakh shares set aside for them.

The non-institutional investors (NIIs) applied for 34.24 lakh shares against 29.17 lakh shares reserved for the category, leading to a subscription of 1.17 times. However, in the qualified institutional buyers’ (QIBs) category bids were received only for 952 shares against the allocation of over 37.26 lakh shares.

The employees of the company booked 46% of their quota with bids for 2.12 lakh shares against 4.63 lakh shares reserved for them.

Transrail Lighting IPO offer size, price band and dates

The IPO price band has been set between ₹410 and ₹432 per share.

For retail investors, the minimum lot size is 34 shares, requiring an investment of ₹14,688. For small Non-Institutional Investors (sNII), the minimum investment involves 14 lots (476 shares), amounting to ₹2,05,632, while for big Non-Institutional Investors (bNII), it’s 69 lots (2,346 shares), aggregating to an investment of ₹10,13,472.

The lead book-running managers for the IPO are Inga Ventures Pvt Ltd, Axis Capital Limited, HDFC Bank Limited and IDBI Capital Market Services Limited. The registrar for the issue is Link Intime India Private Ltd.

The promoters of Transrail Lighting Ltd. are Ajanma Holdings Private Ltd., Digambar Chunnilal Bagde and Sanjay Kumar Verma. Before the IPO, the promoters held a combined stake of 84.50% in the company. The shareholding percentage post-issue has not been declared.

Transrail Lighting IPO dates

Transrail Lighting IPO is open for subscription from December 19 to December 23. The IPO allotment status is expected to be finalised on December 24. Following this, the refunds and transfer of shares to the Demat accounts will be initiated on December 26.

The company’s shares are scheduled to be listed on the BSE and NSE on December 27.

Transrail Lighting IPO: Objectives

The company intends to utilise the net proceeds from the IPO to for a few purposes. These include meeting the company’s incremental working capital requirements, supporting capital expenditure and addressing general corporate needs.

Transrail Lighting financials

For the three-month period ending June 30, 2024, Transrail Lighting Ltd. reported a revenue from operations of ₹897 crore and a Profit After Tax (PAT) of ₹51.74 crore.

Its revenue from operations increased by around 30% to ₹4,009 crore in FY24, compared to ₹3,086 crore in FY23. The company’s net profit more than doubled in FY 2023-24 to ₹233.21 crore against ₹107.57 crore in the preceding fiscal.

About Transrail Lighting

The company plans to utilise the IPO funds for working capital needs and capital expenditure. A portion of the IPO proceeds will also be used for general corporate purposes.

Transrail Lighting Ltd, incorporated in February 2008, is an engineering and construction company. It focuses on power transmission and distribution, along with the manufacturing of lattice structures, conductors and monopoles.

The company’s services include the supply, engineering, procurement and construction of transmission and distribution lines. It also provides EPC services for civil construction, including design work for bridges, tunnels, elevated roads and cooling towers.

Transrail Lighting also manufactures, installs and tests related equipment.

The company has completed over 200 power transmission and distribution projects. It operates in 58 countries, including Bangladesh, Kenya, Tanzania, Niger, Nigeria, Mali, Cameroon, Finland, Poland and Nicaragua.