Trom Industries was incorporated on August 08, 2011. It is a Solar EPC (Engineering, Procurement, and Construction) company specializing in residential solar rooftops, industrial solar power plants, ground-mounted solar power plants, and solar street lights.
| Bidding Dates |
|---|
| 25 Jul 2024 - 29 Jul 2024 |
| Subscription |
|---|
| 430.31x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,32,000 | 1 | 1 | 1200 | 2.7 M | ₹110 - ₹115 | 69.52 % | ₹300.0 M - ₹313.7 M | RHP DOC |
Trom Industries IPO SUBSCRIPTION STATUS
29 Jul '24Trom Industries IPO overall subscription rate was 430.31 times the total available shares
Trom Industries IPO retail subscription rate was 651.12 times in the retail segment
Trom Industries IPO non-institutional investor subscription rate was 1000.42 times in the non-institutional investor category
Trom Industries IPO Qualified Institutional Bidder subscription rate was 104.71 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
29 Jul 2024 (Day 3) | 651.12x | 1000.42x | 104.71x |
26 Jul 2024 (Day 2) | 72.29x | 46.38x | 0.28x |
25 Jul 2024 (Day 1) | 26.31x | 21.99x | 0.27x |
Trom Industries 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 |
| FY24 | 57.3 | 543.5 | -37.1 | -39.7 | 15.3% |
| FY23 | 2.9 | 240.1 | -22.7 | -30.1 | 5.4% |
| FY22 | 3.6 | 303.1 | 7.2 | 5.9 | 3.1% |
Trom Industries IPO SUBSCRIPTION STATUS DETAILS
Trom Industries had 2.7 M shares on offer
Trom Industries IPO offer price was in the range ₹110 - ₹115
Trom Industries IPO minimum Investment was ₹132000
Trom Industries IPO issue size was ₹ 300.0 M - ₹ 313.7 M
Trom Industries had a minimum lot size of 1200 Shares per application
Trom Industries NUMBER OF SHARES ON OFFER
Trom Industries IPO IMPORTANT DATES
| Issue Open Date | 25 Jul 2024 |
| Issue close Date | 29 Jul 2024 |
| Allotment Date | 30 Jul 2024 |
| Refund Date | 30 Jul 2024 |
| Demat Account Credit Date | 31 Jul 2024 |
| Listing Date | 01 Aug 2024 |
| Listing on Exchange(s) | NSE |
| Trom Industries Allotment Status | Exchange |
Trom Industries IPO subscription opened on 25 Jul 2024, and closed on 29 Jul 2024
IPO allotment for Trom Industries was finalized on Tuesday, 30 Jul 2024
IPO listing for Trom Industries was on NSE on Thursday, 01 Aug 2024
Trom Industries IPO LISTING GAINS
| Issue Price (adjusted) | 115.0 |
| Listing Open Price | 218.5 |
| Listing Close Price | 229.4 |
| Listing Gain% | 90.0% |
| Current Gain% | -51.0% |
Trom Industries 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Trom Industries Ltd. | 56.3 | 51.8 | 7.5 | 0.1 | 0.4 | 12.9 | 6.6 | 124.9 | 33 | 6.9 | 50.1 | 7.5 | 50.1 |
| Larsen & Toubro Ltd. | 4056 | 570643.6 | 34.4 | 7.6 | 2 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 107.2 | 113192.2 | 645 | 4.5 | 7.6 | -7.1 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.2 | 144.7 |
| Rail Vikas Nigam Ltd. | 233.4 | 48660.2 | 55.6 | -1.8 | 2.4 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.2 | -31.7 |
| NBCC (India) Ltd. | 95.3 | 25739.1 | 35.7 | 1.1 | 2 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.7 | 33.1 |
| Kalpataru Projects International Ltd. | 1317.2 | 22494.2 | 21.6 | 0.3 | 0.8 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 60.9 | 77.5 |
Trom Industries INFORMATION ON IPO ISSUE
About Trom Industries
Trom Industries was incorporated on August 08, 2011. It is a Solar EPC (Engineering, Procurement, and Construction) company specializing in residential solar rooftops, industrial solar power plants, ground-mounted solar power plants, and solar street lights.
Object of the Issue
- Funding of capital expenditure requirements of the company towards setting up a solar power plant
- To meet the working capital requirements
- General corporate purposes
Trom Industries - PROMOTERS
| Name |
|---|
| Jignesh Patel |
| Pankaj Pawar |
Trom Industries Lead Manager to the Issue
Expert Global Consultants Private Limited
ipo@expertglobal.in
Trom Industries Registrar to the issue
Kfin Technologies Private Limited
trom.ipo@kfintech.com
Trom Industries Strengths
Wide range of products
The company offers a comprehensive range of products like solar power plants, solar off-grid systems, solar street lights, etc.
Relationship with customers and suppliers
The company maintains a long-term working relationship to improve customer retention and also maintains strong relations with the suppliers
Experienced management team with industry expertise
The company has an experienced management team to deliver consistent sales growth
Trom Industries Risks
Geographically concentrated
The majority of the company's revenues are generated from the state of Gujarat. Any adverse development affecting the operations in this region could have an adverse impact on the business, financial condition, and results of operations
Dependent on few clients
The company derives revenue from its top five customers. A reduction in business from these top five customers or any other major clients could have negative implications for both revenue and profitability.
Reduced product demand
The construction of more dams by the Government poses a risk of reduced solar pump consumption.
IPO FAQs
The promoters of the company are Jignesh Patel and Pankaj Pawar.
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 110.0 - 115.0.
The IPO application opens on Jul 25, 2024 and closes on Jul 29, 2024.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 132,000.0, the maximum value for this IPO is Rs 138,000.0.
This IPO will be allotted on Jul 30, 2024.
The refund will be credited to your account on Jul 30, 2024.
The allotted shares will be credited to your demat on Jul 31, 2024.
Trom Industries Ltd.’s shares listed on the stock exchanges on Aug 01, 2024.