Transrail Lighting is all set to launch its initial public offering (IPO) on December 19, 2024, with a price band of Rs 410-432 per share. The public subscription will remain open until December 23, 2024, and the anchor book will open on December 18, 2024.
IPO Details:
- Price Band: Rs 410-432 per share
- IPO Open Date: December 19, 2024
- IPO Close Date: December 23, 2024
- Anchor Book Open Date: December 18, 2024
- Allotment Date: December 24, 2024
- Shares Credit Date: December 26, 2024
- Listing Date: December 27, 2024
The Transrail Lighting IPO consists of a fresh equity issue worth Rs 400 crore and an offer-for-sale (OFS) of 1.01 crore shares by its promoter, Ajanma Holdings. At the upper price band, the OFS is valued at Rs 439 crore, bringing the total issue size to approximately Rs 839 crore. This will give Transrail Lighting a market capitalization of around Rs 5,800 crore.
Use of Proceeds:
The proceeds from the fresh issue will be used to meet incremental working capital requirements, fund capital expenditure, and support general corporate purposes.
Company Overview:
Transrail Lighting operates in the power transmission and distribution sector. The company has established a strong track record, completing over 200 projects across 58 countries, and has constructed 34,654 circuit kilometers (CKM) of transmission lines and 30,000 CKM of distribution lines.
Strong Financial Performance:
Transrail Lighting has shown impressive growth in its recent financial results:
- Net Profit: Rs 233.2 crore in FY24, up from Rs 107.6 crore in FY23 (a more than doubling of profit).
- Revenue: Rs 4,076.5 crore in FY24, up 29.3% from Rs 3,152.2 crore in FY23.
- Quarterly Performance (Q1 FY25): Net Profit of Rs 51.7 crore and Revenue of Rs 915.8 crore for the quarter ended June 2024.
As of June 2024, the company’s order book stood at Rs 10,213 crore, with 55-60% of its revenue expected to come from ongoing projects over the next 12 months.
Investor Stake:
- Promoters currently hold an 84.51% stake in the company.
- Public investors including Asiana Alternative Investment Fund, Canara Bank, and Volrado Venture Partners Fund own the remaining 15.49%.
This IPO marks an exciting opportunity for investors to tap into a company with strong growth potential in the growing power transmission and distribution sector. The IPO opens for subscription on December 19 and is expected to list on December 27, 2024.
