Transrail Lighting’s initial public offering (IPO) has seen an overwhelming response, with the issue fully subscribed within hours of its opening on Thursday, December 19. By the end of Day 2 on Friday, the IPO was oversubscribed 5.31 times, indicating strong investor demand.
Breaking down the subscriptions: Retail Individual Investors (RIIs) led the way with a subscription rate of 6.90 times, followed by Non-Institutional Investors, who subscribed 7.23 times. Qualified Institutional Buyers (QIBs) showed a more moderate demand, subscribing 1.38 times.
The IPO, which is set to close on December 23, is offering shares in a price band of ₹410-432 per share. Before opening, the company raised ₹245.97 crore through its anchor book on December 18. At the top end of the price range, Transrail Lighting’s IPO has been valued at ₹839 crore, translating to a market capitalization of approximately ₹5,600 crore.
A key player in the engineering, procurement, and construction (EPC) sector in India, Transrail Lighting focuses on power transmission and distribution. The company also boasts integrated manufacturing facilities for lattice structures, conductors, and monopoles, cementing its position as an industry leader.
With the IPO receiving such a robust response, investor confidence in Transrail Lighting’s prospects seems high, paving the way for a promising listing in the coming days.
