Transrail Lighting, one of the five IPOs, will make its debut on the stock exchanges on Friday. The company has set the IPO price at ₹432, at the upper end of the ₹410-432 price range. The ₹839 crore IPO was subscribed 80.80 times (QIB: 201.06 times; NII 76.41 times; retail investors: 22.07 times; and employees: 4.07 times).
The gray market premium, according to market rumors, indicates a listing gain of around 40 percent.
The IPO included a fresh issue worth ₹400 crore and an OFS (₹438.91 crore).
Transrail Lighting had mobilized ₹246 crore from anchor investors including ICICI Prudential Mutual Fund, Tata Mutual Fund, Winro Commercial (India) Ltd, Bengal Finance and Investments, SBI General Insurance Company and LIC Mutual Fund.
Proceeds from the new issue will be used to finance increasing working capital needs, to support capital expenditures 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 were the lead managers of the issue.
