The initial public offering (IPO) of Transrail Lighting shall open for bidding on Thursday, December 19. The company shall be offering its shares in the range of Rs 410-432 apiece. Investors can apply for a minimum of 34 equity shares and its multiples thereafter. Bidding for the offer shall close on Monday, December 23.
Incorporated in February 2008, Mumbai-based Transrail Lighting is an engineering and construction company focused on power transmission and distribution and manufacturing lattice structures, conductors, and monopoles. The company has completed over 200 power transmission and distribution projects.
The IPO of Transrail Lighting includes a fresh share sale of Rs 400 crore and an offer-for-sale (OFS) of up to 1,01,60,000 equity shares by its promoter Ajanma Holdings Pvt Ltd, amounting to Rs 438.91 crore at the upper end of the price band. The company is eyeing to raise a total of Rs 838.91 crore via IPO route.
The net proceeds from the issue shall be utilized towards incremental financing working capital requirements of the company; funding capital expenditure of the company; and general corporate purposes. Anchor book for the issue opens on Wednesday, December 18.
Transrail Lighting has a presence in 58 countries, including Bangladesh, Kenya, Tanzania, Niger, Nigeria, Mali, Cameroon, Finland, Poland, and Nicaragua, with turnkey EPCs and supply projects. The company has completed the EPC of 34,654 CKM of transmission lines and 30,000 CKM of distribution lines, both domestically and internationally as of June 30, 2024.
Transrail Lighting reported a net profit of Rs 51.74 crore with a revenue of Rs 929.70 crore for the three-months ended on June 30, 2024. The company clocked a bottomline of Rs 233.21 crore with a revenue of Rs 4,130 crore for the financial year 2023-24.
It has reserved 50 per cent of the net offer for the qualified institutional bidders (QIBs), while non-institutional investors (NIIs) will have 15 per cent of the net offer. Retail investors will have 35 per cent of the allocation in the IPO.
Inga Ventures, Axis Capital, HDFC Bank, IDBI Capital Market Services are the book running lead managers of the Transrail Lighting IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed at both BSE and NSE on December 27, Friday.