Transrail Lighting IPO to Open on
December 19
Transrail Lighting Limited (TLL), a leading engineering, procurement, and construction (EPC) company, is set to launch its Initial Public Offering (IPO) on Thursday, December 19, 2024. The Bid/Offer Period will remain open until Monday, December 23, 2024, while the Anchor Investor Bid/Offer Period will open and close on Wednesday, December 18, 2024.
The IPO comprises a fresh issue of equity shares aggregating up to Rs 400 crore and an Offer for Sale (OFS) of up to 10,160,000 equity shares by Ajanma Holdings Private Limited, one of the promoters of the company.
The price band for the IPO has been fixed between Rs 410 and Rs 432 per equity share, with a face value of Rs 2 per share. Investors can bid for a minimum of 34 equity shares and in multiples of 34 thereafter. The equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), with BSE being the designated stock exchange for the offer.
According to the Red Herring Prospectus (RHP), the net proceeds from the fresh issue will be utilized for funding incremental working capital requirements, capital expenditures, and general corporate purposes. The IPO will be conducted through the Book Building Process, by SEBI regulations, wherein not more than 50% of the net offer will be allocated to Qualified Institutional Buyers (QIBs), 15% to Non-Institutional Bidders (NIIs), and 35% to Retail Individual Bidders (RIBs).
For QIBs, up to 60% of the portion may be allocated to Anchor Investors on a discretionary basis. Within the NII category, one-third will be reserved for bidders with applications ranging between Rs 2 lakh and Rs 10 lakh, while the remaining two-thirds will be allocated to those bidding above Rs 10 lakh.
The IPO is being managed by Inga Ventures Private Limited, Axis Capital Limited, HDFC Bank Limited, and IDBI Capital Markets & Securities Limited as the Book Running Lead Managers (BRLMs). Link Intime India Private Limited has been appointed as the registrar for the offering.
Transrail Lighting Limited specializes in power transmission and distribution, substations, and manufacturing lattice structures, conductors, and monopoles. The company operates in over 58 countries and has completed notable projects in both domestic and international markets. Its expertise spans EPC services for substations up to 765 kV, civil construction, and railway electrification projects.
