Transrail Lighting IPO Day 1: Key Highlights, Subscription Status, and Insights
Transrail Lighting’s initial public offer (IPO) opened for subscription on December 19, 2024. The IPO was off to a decent start, with the issue being subscribed more than 2 times. The IPO’s subscription period will conclude on December 23, 2024.
Transrail Lighting IPO: Issue Details
Transrail Lighting’s ₹838.91 crore IPO is a book-built issue that consists of a fresh issue of equity shares along with an offer-for-sale component. The company will issue 0.93 crore equity shares amounting to ₹400 crores while there is an offer-for-sale for 1.02 crore equity shares totalling ₹438.91 crores. The issue’s subscription period opened on December 19, 2024, and will conclude on December 23, 2024. Following the subscription period, shares of the company will likely be allotted on December 24, 2024. Shares of Transrail Lighting will tentatively be listed on the stock exchanges on December 27, 2024.
Transrail Lighting IPO: Subscription Details
(December 19, 2024, End of the Day.)
Transrail Lighting’s IPO was received positively by investors as the issue opened for subscription. The issue saw decent demand from non-institutional and retail investors.
The Qualified institutional buyers (QIBs) portion was subscribed by 0.77 times. Non-institutional investors (NIIs) portion was subscribed 2.16 times.
The retail investor segment was subscribed 2.97 times. The employee portion was subscribed 0.7 times.
The issue was subscribed 2.12 times with bids for 2.9 crore shares against 1.37 crore shares on offer.
On December 18, 2024, the company announced that it had raised ₹245.97 from anchor investors.
Transrail Lighting IPO: Price Band and Lot Size
The price band for Transrail Lighting IPO Is set at ₹410 to ₹432 per share. The issue has a lot size of 34 shares. To apply to the Transrail Lighting IPO, a minimum investment of ₹14,688 will be required. The minimum lot size for small non-institutional investors and big non-institutional investors has been set at 14 lots and 69 lots, respectively.
About Transrail Lighting
Transrail Lighting is an engineering and manufacturing company founded in 2008. It operates in the power transmission and distribution space and manufactures lattice structures, monopoles, and conductors.
The company takes on engineering, procurement, and construction (EPC) projects for bridges, tunnels, and cooling towers. Additionally, the company also provides services to railways such as signalling and overhead electrification.
From the net proceeds of the IPO, the company will use funds to finance its working capital needs, capital expenditures, and general corporate purposes.
For the quarter ended June 30, 2024, the company reported a net profit of ₹51.74 crore. The revenue for the quarter came in at ₹929.70 crore.