Transrail Lighting is set to open its initial public offering (IPO) for the public on December 19, 2024. The maiden issue will close for subscription on December 23, 2024.
The IPO has been priced in the range of Rs 410 to Rs 432 per share. Investors can apply for a minimum of 34 shares in one lot and in multiples of thereafter. The firm intends to raise funds worth Rs 839 crore from the fresh offering which includes the issuance of 1.93 crore shares.
The listing includes a fresh issue of 0.93 crore shares worth Rs 400 crore and an offer-for-sale (OFS) of 1.02 crore shares, coming up to Rs 439 crore.
About 50 per cent of the issue has been reserved for qualified institutional buyers (QIBs), while 35 per cent has been set aside for retail investors.
The book-running lead managers of the issue include IDBI Capital Market Services, HDFC Bank, Axis Capital, and Inga Ventures. Link Intime India is the registrar for the issue.
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The company clocked an overall revenue of Rs 31,720.34 million in the 2022-23 fiscal year (FY23), in comparison to Rs 21,921.73 million in the 2020-21 fiscal year (FY21), with a compounded annual growth rate of 20 per cent. The profit for the year climbed to Rs 1,075.68 million in FY23, from Rs 981.81 million in FY21, clocking a CAGR of 5 per cent.
Transrail Lighting is one of the big names in Indian engineering, procurement, and construction companies (EPC). It primarily focuses on power transmission and distribution, along with integrated manufacturing facilities for lattice structures, monopoles, and conductors. In addition to the core power transmission business, the firm also functions in other verticals like civil construction, railways, and poles and lighting.
The firm intends to utilise the funds raised from the issue for financing the increasing working capital requirements and general corporate purposes.
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