Transrail Lighting, one of the five IPOs, will make debut at the bourses on Friday. The company has fixed the IPO price at ₹432, at the upper end of the price band ₹410-432. 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).
Grey market premium, according to market buzz, suggests a listing gain of about 40 per cent.
The IPO comprised a fresh issue worth ₹400 crore and an OFS (₹438.91 crore).
Transrail Lighting had mobilised ₹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 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 were the book running lead managers to the issue.
