Transrail Lighting Files Final IPO Papers, Maiden Issue To Open Dec. 19
The Transrail Lighting IPO will open for subscription on Dec. 19, 2024, and close on Dec. 23, 2024.
Transrail Lighting Ltd. filed its Red Herring Prospectus on Thursday, as the company is set to launch its three-day initial public offering on Dec. 19.
The company's maiden issue will comprise a fresh issue of shares worth Rs 400 crore and an offer-for-sale of 1.01 crore equity shares, solely offloaded by its promoter Ajanma Holdings Pvt.
The price band for the issue is yet to be announced. Transrail Lighting filed its preliminary papers with the capital markets regulator on March 14 and got its approval on Sept. 2.
The company initially proposed a fresh issue of equity shares worth Rs 450 crore and an offer for sale of over 1 crore equity shares, according to the Draft Red Herring Prospectus.
At present, promoters hold over 86% stake in the Mumbai-based company. The company may consider a pre-IPO placement for Rs 50 crore.
The shares will be listed on both the National Stock Exchange and the BSE. The IPO will open for subscription on Dec. 19, 2024, and close on Dec. 23, 2024. The anchor investor bid period will begin on Dec. 18, 2024.
Inga Ventures Pvt., Axis Capital, HDFC Bank, and IDBI Capital Markets & Securities are the book-running lead managers that will advise the company on the IPO.
Proceeds from the fresh issue will be used to fund incremental working capital requirements, to support capital expenditure, and the balance amount for general corporate purposes.
Transrail Lighting is one of the leading Indian Engineering, Procurement, and Construction companies, with a primary focus on power transmission and distribution business and integrated manufacturing facilities for lattice structures, conductors, and monopoles.
It has a footprint in more than 58 countries. As of Sept. 30, 2023, the company has undertaken EPC of 33,500 circuit kilometers transmission lines and 30,000 CKM distribution lines, domestically and internationally.
