Transrail Lighting's IPO Shines Bright with Full Subscription

Transrail Lighting's IPO was fully subscribed just hours after opening, achieving a subscription rate of 2.07 times. Retail investors showed strong interest, while institutional buyers followed suit. The IPO aims to raise Rs 839 crore, comprising a fresh share issue and promoter sales. Funds will support corporate expansion.

Transrail Lighting Ltd's IPO achieved remarkable success, being fully subscribed within hours of its market debut, and ending with a 2.07 times subscription rate. It received bids for nearly 2.87 million shares against 1.39 million shares available, based on data from the National Stock Exchange (NSE).

Retail individual investors demonstrated strong interest, oversubscribing their portion by 2.85 times. Non-institutional investors also showed significant participation with a 2.10 times subscription, while 78% of the segment for qualified institutional buyers (QIBs) was subscribed. Transrail Lighting secured Rs 246 crore from anchor investors as part of the public offering.

The IPO, valued at Rs 839 crore, includes a fresh issuance of shares worth Rs 400 crore and an offer for sale of 1.01 crore shares by promoter Ajanma Holdings Pvt Ltd, which currently holds an 83.22% stake. The generated funds will address working capital needs, support capital expenditure, and meet general corporate purposes.

(With inputs from agencies.)