EPC company whose IPO was subscribed 80x last year will announce Q4 FY25 results today; what you need to know

The engineering, procurement and construction (EPC) company, whose IPO was a blockbuster hit last year, will be tracked by investors with regards to its topline and bottomline figures, operational performance, order book for the fiscal year 2024-25, order pipeline, and the management commentary on the road and plans ahead.

Transrail Lighting IPO and listing details

The initial public offering (IPO) of Transrail Lighting received 80.80 times subscription on the last day of the share sale.

The Transrail Lighting IPO opened for subscription on December 19, 2024, and closed on December 23, 2024.

Transrail Lighting's ₹839 crore initial share sale got bids for 1,12,44,40,452 shares, as against 1,39,16,742 shares on offer, according to NSE data.

The quota for non-institutional investors garnered 76.41 times subscription, while the category for retail individual investors got subscribed 22.07 times. The Qualified Institutional Buyers (QIBs) portion received a mammoth 201.06 times subscription.

Transrail Lighting Ltd has mobilised ₹246 crore from anchor investors.

The ₹839 crore IPO had a price band of ₹410 - ₹432 per share.

The company's IPO was a combination of a fresh issue of shares worth ₹400 crore and an offer-for-sale of 1.01 crore equity shares by a promoter, Ajanma Holdings Pvt Ltd.

Proceeds from the fresh issue, the company had said, would be used to fund incremental working capital requirements, to support capital expenditure and for general corporate purposes.

Inga Ventures, Axis Capital, HDFC Bank, and IDBI Capital Markets & Securities were the book-running lead managers for the issue.

About Transrail Lighting

Transrail Lighting is one of the leading Indian engineering, procurement and construction (EPC) companies with a primary focus on the power transmission and distribution business and integrated manufacturing facilities for lattice structures, conductors, and monopoles. The company is based in Mumbai, having a footprint across 59 countries.

The company has completed more than 200 projects in the power transmission and distribution vertical, along with comprehensive and extensive project execution capabilities in terms of manpower and supply of materials (including self-manufactured products).

Listing details

Shares of Transrail Lighting Ltd surged nearly 37% on December 27, 2024, the first day of trading against the issue price of ₹432.

The stock listed at ₹585.15, reflecting a jump of 35.45% from the issue price on the BSE.

On the NSE, shares of the firm began the day at ₹590, surging 36.57%.

Order Wins in the March quarter

• In February 2025, Transrail Lighting Limited (Transtrail) announced securing a new order worth ₹2,752 crore in the power transmission and distribution sector.

With this win, its order book had touched the level of ₹7,400 crore, the company said in a statement.

The company's MD & CEO Randeep Narang said, "With this addition, our YTD order inflows have crossed ₹7,400 crore; this is a growth of 90% vis-à-vis last year, further strengthening our position in the industry."

• In March 2025, the company announced securing new orders worth ₹1,647 crore in the power transmission and distribution and railway sectors.

These new orders include Letters of Award (LOAs) for major T&D projects in the overseas market involving engineering, procurement, and construction (EPC) of transmission lines and substations, the company said in an exchange filing.

"With year-to-date (YTD) order inflows close to ₹9,200 crore, we continue to build a project portfolio that supports profit-led growth," Randeep Narang, MD & CEO, said.