Transrail Lighting's IPO Set to Illuminate the Market

Transrail Lighting Ltd has announced the price band for its upcoming IPO at Rs 410-432 per share, aiming to raise Rs 839 crore. The IPO opens on December 19, comprising a fresh issue and an offer for sale by Ajanma Holdings. Proceeds will support growth initiatives.

Transrail Lighting Ltd, a key player in the power transmission sector, has set the price band for its Rs 839-crore Initial Public Offering (IPO) between Rs 410 and Rs 432 per share. The subscription will start on December 19 and close on December 23, with anchor investor bidding opening on December 18.

The IPO involves a fresh issue of shares worth Rs 400 crore and an offer for sale of 1.01 crore equity shares by the major stakeholder, Ajanma Holdings Private Ltd, which currently holds 83.22% of the company. The proceeds are intended for working capital, capital expenditure, and corporate purposes.

With a presence in over 58 countries, Transrail is one of India's leading EPC companies specialized in power transmission. Inga Ventures, Axis Capital, HDFC Bank, and IDBI Capital Markets & Securities are managing the IPO's book-running.

(With inputs from agencies.)