Shares of Transrail Lighting Limited made a strong debut on the stock exchanges on Friday, December 27, 2024, with impressive listing gains. The shares opened at Rs 585.15 per share on the BSE, reflecting a 35.45% premium over its issue price of Rs 432. On the NSE, Transrail Lighting shares listed at Rs 590, a 36.5% premium or Rs 158 over the issue price, aligning with market expectations.
Grey Market Expectations Met
Before the official listing, shares of Transrail Lighting were trading at Rs 597 in the grey market, indicating a premium of Rs 165, or 38.19%, over the issue price. The company’s IPO had raised significant interest from investors, as evidenced by the positive debut on both stock exchanges.
IPO Details and Oversubscription
The Transrail Lighting IPO was a book-built issue worth Rs 838.91 crore, which included a fresh issue of 9.3 crore shares amounting to Rs 400 crore and an Offer for Sale (OFS) of 10.2 million shares worth Rs 438.91 crore by the promoter, Ajanma Holdings Pvt Ltd. The IPO, which was available at a price band of Rs 410-432 with a lot size of 34 shares, was met with overwhelming demand, closing with a 80.80 times oversubscription.
Strong Participation from Anchor Investors
Transrail Lighting also raised Rs 245.97 crore from anchor investors before the issue opened for subscription on December 19, 2024. The registrar for the issue is Link Intime India, with Inga Ventures Pvt Ltd, Axis Capital Ltd, HDFC Bank Ltd, and IDBI Capital Market Services Ltd serving as the book-running lead managers for the IPO.
Use of Proceeds
The funds raised from the public offering will be used to meet incremental working capital requirements, support capital expenditure, and for general corporate purposes.
About Transrail Lighting
Transrail Lighting is one of India’s leading engineering, procurement, and construction (EPC) companies, specializing in the power transmission and distribution business. The company operates integrated manufacturing facilities for producing lattice structures, conductors, and monopoles, supporting key infrastructure projects across India.
