Transrail Lighting IPO: Rs 400 cr Fresh Issue on Dec 19
Dec 11, 2024 17:03
Transrail Lighting Ltd is set to launch its IPO on December 19, featuring a fresh issue of equity shares worth Rs 400 crore. The IPO will also include an offer for sale of shares by promoter Ajanma Holdings.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Dec 11 (PTI) Transrail Lighting Ltd is gearing up to launch its public offering on December 19, featuring a fresh issuance of equity shares worth Rs 400 crore.
Apart from the fresh issue, the initial public offering (IPO) comprised an offer for sale of 1.01 crore equity shares by promoter Ajanma Holdings Private Limited, according to the red herring prospectus (RHP).
At present, Ajanma Holdings holds an 83.22 per cent stake in the Mumbai-based company.
The initial share sale will open for public subscription from December 19-23. The bidding for anchor investors will open for a day on December 18, the RHP showed.
Proceeds from the fresh issue will be used to fund incremental working capital requirements, support capital expenditure and for general corporate purposes.
Transrail Lighting is one of the leading Indian engineering, procurement and construction (EPC) companies with a primary focus on power transmission and distribution business and integrated manufacturing facilities for lattice structures, conductors and monopoles. It has a footprint in more than 58 countries.
As of September 30, 2023, the company has undertaken an EPC of 33,500 circuit kilometres (CKM) transmission lines and 30,000 CKM distribution lines, domestically and internationally.
Inga Ventures, Axis Capital, HDFC Bank and IDBI Capital Markets & Securities are the book-running lead managers to the issue.
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