Transrail Lighting IPO Over-Subscribed: 5.31 Times on Day 2

New Delhi, Dec 20 (PTI) The initial public offering (IPO) of Transrail Lighting received 5.31 times subscription on the day two of the share sale on Friday.

Transrail Lighting's Rs 839-crore initial share sale got bids for 7,38,94,750 shares against 1,39,16,742 shares on offer, according to NSE data.

The quota for non-institutional investors garnered 7.23 times subscription while the category for retail individual investors got subscribed 6.90 times. Qualified institutional buyers (QIBs) portion received 1.38 times subscription.

Transrail Lighting Ltd has mobilised Rs 246 crore from anchor investors.

The Rs 839-crore IPO has a price band of Rs 410-432 per share.


The company's IPO is a combination of a fresh issue of shares worth Rs 400 crore and an offer for sale of 1.01 crore equity shares by a promoter Ajanma Holdings Pvt Ltd.

At present, Ajanma Holdings holds 83.22 per cent stake in the Mumbai-based company.

Proceeds from the fresh issue will be used to fund incremental working capital requirements, to 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 the power transmission and distribution business and integrated manufacturing facilities for lattice structures, conductors, and monopoles.

It has a footprint in more than 58 countries.

Inga Ventures, Axis Capital, HDFC Bank, and IDBI Capital Markets & Securities are the book running lead managers to the issue.