Transrail Lighting Shines with 37% Surge on Debut

Transrail Lighting Ltd's shares surged almost 37% on their debut trading day, far exceeding the initial issue price of Rs 432. The IPO was highly subscribed at 80.8 times. The company is a leading Indian EPC firm in power transmission, with a substantial global footprint.

The shares of Transrail Lighting Ltd made a remarkable debut, skyrocketing nearly 37% on their initial trading day against the issue price of Rs 432. The stocks listed at Rs 585.15, indicating a 35.45% jump, and further climbed 39.81% to Rs 604 on BSE.

Opening at Rs 590 on NSE, the firm's shares surged 36.57%, commanding a market valuation of Rs 7,757.31 crore. The company's Rs 839-crore IPO saw a remarkable 80.80 times subscription on its closing day.

Proceeds from the fresh issue of shares, worth Rs 400 crore, will aid in capital expansions and other corporate purposes. Known for their expertise in power transmission, Transrail also boasts a significant international presence in over 58 countries.

(With inputs from agencies.)