Trom Industries IPO Day 1 Subscription Status; Check Here

Trom Industries Ltd. launched its initial public offering to raise Rs 31.37 crores through a fresh issue of 27.28 lakh shares. The bidding for the SME IPO begins on Thursday and will conclude on Monday, July 29.

Investors can participate in the Trom Industries IPO within a price band of Rs. 100 to Rs. 115 per share. The minimum lot size for an application is 1200 shares, requiring a minimum investment of Rs. 138,000 for retail investors. High Net Worth Individuals (HNIs) can apply for a minimum of 2 lots (2,400 shares), amounting to Rs. 276,000.

The IPO subscription opens on July 25, 2024, and closes on July 29, 2024. The allotment is expected to be finalised by July 30, 2024. Trom Industries IPO will list on NSE SME with the tentative listing date fixed as Thursday, August 1, 2024.

Expert Global Consultants Private Limited is appointed as the book running lead manager for the Trom Industries IPO, while Kfin Technologies Limited will serve as the registrar for the issue. Sunflower Broking has been designated as the market maker for the IPO.

Trom Industries IPO was subscribed 13.93 times on Thursday, July 25 at 07:30 p.m. as per the market tracking site Chittorgarh.

• Non-Institutional Buyers: 16.66 times.

• Retail Investors: 20.44 times.

• Qualified Institutions: 0.50 times.

• Anchor Investors: 1 time.

Founded in 2011, Trom Industries Ltd. specialises in solar Engineering, Procurement, and Construction (EPC) solutions. The company's offerings include residential solar rooftop systems, industrial solar power plants, ground-mounted solar power plants, and solar street lights.

• Capital Expenditure: Setting up Solar Power Plants.

• Working Capital Requirements: Ensuring operational liquidity.

• General Corporate Purposes: Supporting overall business growth initiatives.

Trom Industries Ltd. has reported robust financial performance with revenue surging by 125.98% and profit after tax (PAT) skyrocketing by 1885.2% between March 31, 2023, and March 31, 2024, as per Chittorgarh.