The price band for Transrail Lightning Limited (TLL)’s IPO has been fixed at INR 410-432 per equity share of the face value of INR 2. The initial share-sale is scheduled to open on December 19 and close on December 23, 2024. The proceeds from the fresh issue will be used to fund incremental working capital requirements, finance capital expenditure, and assist general corporate purposes.
Dec 17, 2024
Transrail Lighting Limited has fixed a price band of INR 410-432 per equity share of the face value of INR 2 for its Initial Public Offering (IPO), scheduled to open for subscription on December 19.
As per the company, the initial share-sale is scheduled to close on December 23 and the bidding for anchor investors will open for a day on December 18.
The proposed IPO is a combination of a fresh issue of shares worth INR 400 crore and an offer-for-sale (OFS) of 1.01 crore equity shares by promoter Ajanma Holdings Private Limited, which holds a 83.22 per cent stake in Transrail Lightning.
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The top end of the OFS’ price range is estimated at INR 439 crore, taking the total size of the IPO to approximately INR 839 crore. It will position TLL’s market capitalization at about INR 5,800 crore.
The Mumbai-based company said proceeds from the fresh issue will be used to fund incremental working capital requirements, finance capital expenditure, and assist general corporate purposes.
It further said that half of the issue has been reserved for qualified institutional buyers, 35 for retail investors and the remaining 15 percent for non-institutional investors. The investors can bid for a minimum of 34 shares and in multiples thereof. The employee reservation portion has been reserved for equity shares aggregating up to INR 190 million.
TLL’s IPO basis of allotment of shares will be finalised on December 24 and the company will initiate refunds on December 26. The shares will be credited to the demat account of allottees on the same day following refund. The share price of Transrail Lightning is likely to be listed on BSE and NSE on December 27.
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Transrail Lighting Limited is one of the leading Indian engineering, procurement and construction companies with integrated manufacturing facilities for lattice structures, conductors and monopoles. It has over four decades of experience in providing comprehensive solutions on a turnkey basis globally for businesses ranging from power transmission & distribution (including substations), civil construction, poles & lighting, and railways. The global player has a footprint in more than 50 countries across four continents, including Asia, Europe, Africa and the United States of America.
It has a footprint in more than 58 countries. Inga Ventures, Axis Capital, HDFC Bank and IDBI Capital Markets & Securities are the book running lead managers to the issue.
