The initial public offer (IPO) of Transrail Lighting received 1,12,44,40,452 bids for shares as against 1,39,16,742 shares on offer. The issue was subscribed 80.80 times.
The Qualified Institutional Buyers (QIBs) category was subscribed 201.06 times. The Non-Institutional Investors (NIIs) category was subscribed 76.41 times. The Retail Individual Investors (RIIs) category was subscribed 22.07 times.
The issue opened for bidding on 19 December 2024 and it closed on 23 December 2024. The price band of the IPO was fixed between Rs 410 and 432 per share.
The IPO comprised a fresh issue of equity shares worth Rs 40 crore and an offer for sale of up to 10,160,000 equity shares with a face value of Rs 2 each. The entire portion of OFS is by promoters, i.e., Ajanma Holdings.
Of the net proceeds from the fresh issue of equity shares, about Rs 250 crore will be used to meet the working capital requirement, Rs 90.725 crore for funding capital expenditure, and the balance for general corporate purposes.
Ahead of the IPO, Transrail Lighting on Wednesday, 18 December 2024, raised Rs 245.97 crore from anchor investors. The board allotted 56.93 lakh shares at Rs 432 each to 19 anchor investors.
Transrail Lighting (TLL), promoted by Digambar Chunnilal Bagde, is an Indian engineering, procurement, and construction (“EPC”) company with a primary focus on power transmission and distribution business and integrated manufacturing facilities for lattice structures, conductors, and monopoles.
The company operates as an EPC service provider and as a supplier of engineered products in the power transmission and distribution segment. It has completed more than 200 projects in the power transmission and distribution vertical since its inception, along with comprehensive and extensive projects. It has a power T&D project execution footprint in 58 countries like Bangladesh, Kenya, Tanzania, Niger, Nigeria, Mali, Cameroon, Finland, Poland, Nicaragua, etc., including turnkey EPCs or supply projects.
The firm reported a consolidated net profit of Rs 51.74 crore and sales of Rs 915.78 crore for the three months ended on 30 June 2024.