Shares of Transrail Lighting Ltd. surged by 5% today to trade at ₹693.70, marking an 11% gain this week. The stock has shown consistent growth since its strong debut in the market.
IPO Performance:
- Transrail Lighting had a remarkable listing on Friday, December 27, opening at ₹590, a 36% premium over its IPO price of ₹432.
- During the IPO bidding process held between December 19-23, the issue received overwhelming interest, with shares priced in the range of ₹410-432 per share. The company raised ₹839 crore, comprising a fresh issue of ₹400 crore and an offer-for-sale (OFS) of 1,01,60,000 equity shares.
- Shares were trading at a premium of ₹165 in the grey market prior to the listing.
Company Overview:
Transrail Lighting is a leading Indian EPC company with expertise in power transmission and distribution. The Mumbai-based firm boasts integrated manufacturing facilities for lattice structures, conductors, and monopoles, with operations in over 58 countries.
Current Ownership & Utilization of Proceeds:
- Ajanma Holdings owns 83.22% stake in the company.
- The net proceeds from the IPO are allocated towards:
- Financing working capital requirements.
- Funding capital expenditure.
- General corporate purposes.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
