Transrail Lighting IPO: Check key dates, price band, GMP and review

The initial public offer (IPO) of Transrail Lighting has opened for subscription. The Rs 839 crore issue, which is a mix of fresh equity sale of Rs 400 crore and an OFS of 1.01 crore shares, will be available for bidding till December 23.

The proceeds from the offer will be used for repayment of debt, investment in their subsidiary Sanathan Polycot and general corporate purposes.

Transrail Lighting IPO: price band

The company has fixed a price band of Rs 410-432 per share, where investors can bid for 34 shares in one lot and in multiples thereafter.

Transrail Lighting IPO: GMP today

Ahead of the issue opening, Sanathan Textiles was commanding a GMP of Rs 136, which indicates a premium of 31% over the issue price.

Transrail Lighting IPO: Preview

Analysts advised investors to subscribe to the issue as the valuation appears attractive due to its solid financial health, strong market position, and promising growth prospects.

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"The company has demonstrated consistent revenue growth, profitability, and positive cash flow, which contribute to its financial stability. Its involvement in infrastructure and lighting projects, particularly with government contracts, provides a reliable revenue stream," said Bajaj Broking, while recommending a subscribe.

About Transrail Lighting IPO

Transrail Lighting, established in 2008, is an engineering and construction firm specializing in power transmission and distribution. They manufacture lattice structures, conductors, and monopoles.

Since its founding, Transrail Lighting has completed over 200 power transmission and distribution projects. The company operates in 58 countries, including Bangladesh, Kenya, Tanzania, Niger, Nigeria, Mali, Cameroon executing turnkey EPCs and supply projects.

As of June 2024, the company has completed the EPC of 34,654 CKM of transmission lines and 30,000 CKM of distribution lines, both domestically and internationally.

In FY24, the company's revenue from operations rose 30% YoY to Rs 413 crore, while profit more than doubled to Rs 233 crore in the same period.

Transrail Lighting IPO: Opening Date, Allotment and Listing Date

Transrail Lighting IPO opened up for public subscription on December 19 with the issue closing on December 23. Meanwhile, the allotment for the IPO is expected to be finalised on December 24 and the listing of shares will be on December 27.

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