Transrail Lighting IPO Day 3 Live Updates: Key Highlights, Subscription Status, and Insights

Transrail Lighting IPO Day 2 Subscription Status 

(December 20, 2024, End of Day)

On the second day of bidding, the Transrail Lighting IPO saw an overall subscription of 5.42 times the total shares on offer. 

• The Non-Institutional Investors (NIIs) subscribed to 7.42 times their allotted portion. 
• While Retail Investors subscribed to 7.13 times the shares reserved for them. 
• The subscription rate for Qualified Institutional Buyers (QIBs) stood at 1.36 times. 
• The Employees' Category recorded a subscription of 1.53 times.

Transrail Lighting IPO Details

• The Transrail Lighting IPO, valued at ₹838.91 crores, is a book-built issue comprising a fresh issue of 0.93 crore shares amounting to ₹400 crores and an offer for sale of 1.02 crore shares worth ₹438.91 crores. 
• The IPO opened for subscription on December 19, 2024, and will close on December 23, 2024. 
• The allotment of shares is expected to be finalized on Tuesday, December 24, 2024, with the listing scheduled on BSE and NSE on Friday, December 27, 2024. 
• The price band for the IPO is set at ₹410 to ₹432 per share. 
• Investors can apply for a minimum lot size of 34 shares, requiring a retail investment of ₹14,688. For sNII, the minimum investment is 14 lots (476 shares), amounting to ₹2,05,632, while for bNII, the minimum is 69 lots (2,346 shares), totalling ₹10,13,472. 
• The IPO is managed by book-running lead managers Inga Ventures Pvt Ltd, Axis Capital Limited, HDFC Bank Limited, and IDBI Capital Market Services Limited, with Link Intime India Private Ltd serving as the registrar.

Use of Proceeds

The company intends to use the net proceeds for several purposes, including meeting its incremental working capital requirements, funding capital expenditure, and supporting general corporate purposes.

Transrail Lighting Business Overview

Transrail Lighting Limited, established in February 2008, specializes in engineering and construction services for power transmission, distribution, and manufacturing of lattice structures, conductors, and monopoles.  

The company's services include:  

• EPC for transmission and distribution lines.  
• Civil construction, including bridges, tunnels, elevated roads, and cooling towers.  
• Manufacturing and installation of poles and lighting systems.  
• Railway services, such as overhead electrification, signaling, telecommunication, and track linking.  

With a presence in 58 countries, including Bangladesh, Kenya, and Finland, Transrail has completed over 200 power transmission and distribution projects since its inception. By June 30, 2024, it delivered 34,654 CKM of transmission lines and 30,000 CKM of distribution lines globally.  

As of December 2024, Transrail operates four manufacturing units in Vadodara (Gujarat), Deoli (Maharashtra), and two in Silvassa (Dadra and Nagar Haveli). To date, it has supplied 1.3 MMT of towers, 194,534 KM of conductors, and 458,705 poles.

Transrail Lighting Financial Highlights

• Revenue increased by 29.32% from Rs. 3,152.16 crore in FY23 to Rs. 4,076.52 crore in FY24.
• Profit after tax (PAT) rose by 116.8% between the financial year ending March 31, 2023 and March 31, 2024, from Rs. 107.57 crore to Rs. 233.21 crore.

Key Ratios