Transrail Lighting IPO Day 1 Live Updates: The public offering for engineering and construction company Transrail Lighting is set to begin today (Thursday, December 19), with a price band of ₹410-432 per share. This IPO, which will close on December 23, generated ₹245.97 crore through its anchor book on December 18.
A number of prominent institutional investors, including Winro Commercial, ICICI Prudential Mutual Fund, Tata Mutual Fund, LIC Mutual Fund, Bandhan Mutual Fund, SBI General Insurance, ITI Mutual Fund, Nuvama, Taurus Flexi Cap Fund, Citrus Global Arbitrage Fund, and BNP Paribas Financial Markets, made investments in the company through the anchor book.
The company’s planned IPO includes a new share issuance totaling ₹400 crore along with a sale of 1.01 crore equity shares by its promoter, Ajanma Holdings Private Ltd. Currently, Ajanma Holdings possesses an 83.22 percent stake in the Mumbai-based firm. At the highest point of the price range, the IPO has been valued at ₹839 crore, resulting in a market capitalization of approximately ₹5,600 crore.
Transrail Lighting stands out as a prominent EPC company in India, primarily concentrating on power transmission and distribution. They also operate integrated manufacturing facilities for lattice structures, conductors, and monopoles.
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Transrail Lighting IPO Day 1 Live Updates: Here’s what GMP hints ahead of subscriptions
Transrail Lighting IPO GMP today is +145. This indicates Transrail Lighting share price was trading at a premium of ₹145 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Transrail Lighting share price is indicated at ₹577 apiece, which is 33.56% higher than the IPO price of ₹432.
Based on the grey market activities from the last nine sessions, the current GMP ( ₹145) indicates a potential decline. The minimum GMP recorded is ₹0, while the maximum stands at ₹145, as per the experts at investorgain.com.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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