Transrail Lighting Ltd. was incorporated on February 18, 2008. It is an Indian engineering, procurement, and construction (“EPC”) company, primarily focusing on power transmission and distribution business and integrated manufacturing facilities for lattice structures, conductors, and monopoles.
| Bidding Dates |
|---|
| 19 Dec 2024 - 23 Dec 2024 |
| Subscription |
|---|
| 80.8x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,940 | 1 | 13 | 34 | 19.4 M | ₹410 - ₹432 | 71.12 % | ₹7961.9 M - ₹8389.1 M | RHP DOC |
Transrail Lighting Ltd. IPO SUBSCRIPTION STATUS
23 Dec '24Transrail Lighting Ltd. IPO overall subscription rate was 80.8 times the total available shares
Transrail Lighting Ltd. IPO retail subscription rate was 22.07 times in the retail segment
Transrail Lighting Ltd. IPO non-institutional investor subscription rate was 76.41 times in the non-institutional investor category
Transrail Lighting Ltd. IPO Qualified Institutional Bidder subscription rate was 201.06 times the available shares for Qualified Institutional Bidder
Transrail Lighting Ltd. IPO Employees subscription rate was 4.07 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
23 Dec 2024 (Day 3) | 22.07x | 76.41x | 201.06x | 4.07x |
20 Dec 2024 (Day 2) | 6.9x | 7.23x | 1.38x | 1.4x |
19 Dec 2024 (Day 1) | 2.87x | 2.1x | 0.78x | 0.64x |
Transrail Lighting Ltd. FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| Q1FY25 | 517.4 | 8,969.0 | 1,318.7 | 1,087.7 | 13.1% |
| FY24 | 2,332.1 | 40,092.3 | 354.9 | 82.2 | 11.7% |
| FY23 | 1,075.7 | 30,861.4 | 1,426.8 | 908.6 | 9.3% |
| FY22 | 647.1 | 22,841.4 | 501.6 | -256.6 | 8.8% |
Transrail Lighting Ltd. IPO SUBSCRIPTION STATUS DETAILS
Transrail Lighting Ltd. had 19.4 M shares on offer
Transrail Lighting Ltd. IPO offer price was in the range ₹410 - ₹432
Transrail Lighting Ltd. IPO minimum Investment was ₹13940
Transrail Lighting Ltd. IPO issue size was ₹ 7961.9 M - ₹ 8389.1 M
Transrail Lighting Ltd. had a minimum lot size of 34 Shares per application
Transrail Lighting Ltd. NUMBER OF SHARES ON OFFER
Transrail Lighting Ltd. IPO IMPORTANT DATES
| Issue Open Date | 19 Dec 2024 |
| Issue close Date | 23 Dec 2024 |
| Allotment Date | 24 Dec 2024 |
| Refund Date | 26 Dec 2024 |
| Demat Account Credit Date | 26 Dec 2024 |
| Listing Date | 27 Dec 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Transrail Lighting Ltd. Allotment Status | Exchange |
Transrail Lighting Ltd. IPO subscription opened on 19 Dec 2024, and closed on 23 Dec 2024
IPO allotment for Transrail Lighting Ltd. was finalized on Tuesday, 24 Dec 2024
IPO listing for Transrail Lighting Ltd. was on NSE and BSE on Friday, 27 Dec 2024
Transrail Lighting Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 432.0 |
| Listing Open Price | 590.0 |
| Listing Close Price | 553.5 |
| Listing Gain% | 36.6% |
| Current Gain% | 9.6% |
Transrail Lighting Ltd. Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Transrail Lighting Ltd. | 473.4 | 6355.7 | 15.7 | 2.5 | 0.9 | 17.7 | 5.5 | 6928.8 | 29.4 | 403.6 | 23.6 | 30.2 | 6.4 |
| ABB India Ltd. | 7611.5 | 161294.1 | 54 | 11.9 | 21.3 | 12.2 | 13555.1 | 8.1 | 1668.3 | -10.9 | 141 | ||
| Hitachi Energy India Ltd. | 35000 | 156003.4 | 135.6 | 1.1 | 17 | 19.1 | 8.2 | 8387.6 | 30.2 | 987.8 | 157.3 | 258.1 | 127.7 |
| Siemens Ltd. | 4011 | 142839.9 | 43.6 | 1.3 | 7.8 | 19.9 | 12.9 | 25598.6 | 10.5 | 2751.6 | 1.3 | 92 | 33.7 |
| Bharat Heavy Electricals Ltd. | 403 | 140327.2 | 57.7 | 0.1 | 3.9 | 6.1 | 2.1 | 34589.8 | 20.1 | 1600.3 | 199.7 | 7 | 739.4 |
| CG Power and Industrial Solutions Ltd. | 881 | 138797.2 | 111 | 4.5 | 10.8 | 15.1 | 9.5 | 12662.2 | 25.7 | 1206.3 | 23.8 | 7.9 | 24.7 |
Transrail Lighting Ltd. INFORMATION ON IPO ISSUE
About Transrail Lighting Ltd.
Transrail Lighting Ltd. was incorporated on February 18, 2008. It is an Indian engineering, procurement, and construction (“EPC”) company, primarily focusing on power transmission and distribution business and integrated manufacturing facilities for lattice structures, conductors, and monopoles.
Object of the Issue
- Funding incremental working capital requirements of the company.
- Funding capital expenditure of the company.
- General corporate purposes.
Transrail Lighting Ltd. - PROMOTERS
| Name |
|---|
| Ajanma Holdings Private Limited |
| Digambar Chunnilal Bagde |
| Sanjay Kumar Verma |
Transrail Lighting Ltd. Book running lead manager
Inga Ventures Private Limited
transrail.ipo@ingaventures.com
Axis Capital Limited
transrail.ipo@axiscap.in
HDFC Bank Limited
transrail.ipo@hdfcbank.com
IDBI Capital Markets & Securities Limited
transrail.ipo@idbicapital.com
Transrail Lighting Ltd. Registrar to the offer
Link Intime India Private Limited
transraillighting.ipo@linkintime.co.in
Transrail Lighting Ltd. Strengths
Established presence in power transmission and distribution
The company has completed more than 200 projects in the power transmission and distribution vertical, along with comprehensive and extensive project execution capabilities in terms of manpower, supply of materials (including self-manufactured products), and availability of world-class machinery, both in India and internationally
Established manufacturing facilities
The company's factories are fitted with advanced computer numerical control (“CNC”) machines, plasma/gas-cutting machines, shearing machines, welding facilities, large-sized galvanizing baths, wire drawing machines, and furnaces. As of June 30, 2024, it has supplied 1.3 million metric tonnes (MMT) of towers, 194,534 kilometers (km) of conductors, and 458,705 poles.
Experienced team
The company has developed key competencies and resources in-house to deliver a project from conceptualization until completion. It has an experienced team of 83 designers and engineers who are specialists in each segment of the business, with a total cumulative experience of more than 17,000 man-months
Transrail Lighting Ltd. Risks
Long execution periods
The company's project management and turnkey EPC contracts have long execution periods, and time overruns, project-related estimated costs, and revenue estimates may vary from the actual costs incurred and actual revenues generated, which may adversely affect the business, financial condition, results of operations, and future prospects
Dependent on government tenders
The company's business is substantially dependent on tenders being floated by government authorities, public sector undertakings, and utilities, from which it derives a significant portion of its revenues, i.e., approximately 70% of the revenue from operations for three months ended June 30, 2024. Any delays in tenders released by the government authorities or lack of tenders being released by the government entities may have a material adverse effect on its business
Substantial capital expenditure
The company has substantial capital expenditure and working capital requirements involving relatively long implementation periods, and it may require additional financing to meet those requirements. Its indebtedness and the conditions and restrictions imposed on it by its financing arrangements could adversely affect the business
IPO FAQs
This IPO consists of an offer for sale of up to Rs 438.9 crore, of 10,160,000 shares. It also consists of a fresh issue of Rs 400.0 crore.
The promoters of the company are Ajanma Holdings Private Limited, Digambar Chunnilal Bagde and Sanjay Kumar Verma.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 410.0 - 432.0.
The IPO application opens on Dec 19, 2024 and closes on Dec 23, 2024.
The minimum lot size for the IPO is 34. The maximum lot size for the IPO is 442.
For all category investors, the minimum application amount for this IPO is Rs. 13,940.0, the maximum value for this IPO is Rs 190,944.0.
This IPO will be allotted on Dec 24, 2024.
The refund will be credited to your account on Dec 26, 2024.
The allotted shares will be credited to your demat on Dec 26, 2024.
Transrail Lighting Ltd.’s shares listed on the stock exchanges on Dec 27, 2024.