Transrail Lighting Ltd Set to Illuminate Markets with December IPO Launch

Transrail Lighting Ltd plans to launch its IPO on December 19, offering fresh equity shares worth Rs 400 crore. The offering includes a sale by promoter Ajanma Holdings of over 1 crore shares. Proceeds will support working capital, capital expenditure, and corporate needs. The firm specializes in power transmission.

Transrail Lighting Ltd is gearing up to launch its public offering on December 19, with a fresh issue of equity shares valued at Rs 400 crore.

In addition to the fresh issue, the IPO includes an offer for sale of over 1 crore equity shares by its current promoter, Ajanma Holdings Private Limited, which holds an 83.22% stake in the Mumbai-based enterprise.

The subscription window for the initial share sale will open from December 19 to December 23, with anchor investor bidding commencing on December 18, as indicated in the company's red herring prospectus (RHP).

Proceeds from the fresh issue are earmarked to fortify incremental working capital needs, bolster capital expenditure programs, and cover general corporate purposes.

Transrail Lighting stands as a leading Indian engineering, procurement, and construction (EPC) entity, chiefly focusing on power transmission and distribution. It boasts integrated manufacturing capabilities, with a presence in over 58 countries globally.

By September 30, 2023, Transrail Lighting had installed 33,500 CKM transmission and 30,000 CKM distribution lines both domestically and internationally.

Inga Ventures, Axis Capital, HDFC Bank, and IDBI Capital Markets & Securities are the book-running lead managers for the issue.

(With inputs from agencies.)