Trom Industries IPO opens today: Check issue size, price band, GMP and other details

The SME IPO of Trom Industries has opened for subscription today and will close on July 29. The company aims to raise about Rs 31.37 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

1) Trom Industries IPO size

The IPO is entirely a fresh equity issue of 27.27 lakh shares and through the issue, the company plans to raise Rs 31.31 crore.


2) Trom Industries IPO price band

The company is offering its shares at Rs 100-115 apiece, and investors can bid for 1200 shares in 1 lot.

3) Trom Industries GMP

In the unlisted market, the company's shares are trading with a GMP of Rs 115, which translates to a premium of around 100% over the issue price.

4) About Trom Industries

Trom Industries is a solar EPC company specializing in residential solar rooftop, industrial solar power plants, ground-mounted solar power plants, and solar street lights.

5) Industry overview

India's energy demand is expected to increase more than that of any other country in the coming decades due to its sheer size and enormous potential for growth and development.

Also Read: Track these 2 SME IPOs commanding over 100% GMP in unlisted market

6) Trom Industries financial performance

For the year ended March 2024, the company clocked total revenues of Rs 54.34 crore and net profit of Rs 5.72 crore.

7) Objects of the offer

The net proceeds from the public offer will be used for funding of capital expenditure, working capital requirements and general corporate purposes.

8) Lead managers and Registrar

Expert Global Consultants is acting as the lead manager to the issue and Kfin Technologies is the registrar.

9) Issue structure

About 50% of the offer is reserved for QIB investors, 35% for retail investors, and the rest 15% for non-institutional investors.

10) Important dates

The IPO opened on July 25 and will close on July 29. The final allotment will likely be made on July 30. The company's shares will likely get listed on August 1.