Transrail Lighting to float ₹400 crore IPO on Dec 19, sell 1 crore shares to promoter – CNBC TV18

Transrail Lighting Ltd, a prominent player in India’s power transmission and distribution sector, is set to launch its initial public offering (IPO) on December 19, 2024. The IPO will feature a fresh issue of equity shares worth ₹400 crore, along with an offer for sale of 1.01 crore shares by its promoter, Ajanma Holdings Private Limited.

Currently, Ajanma Holdings holds an 83.22% stake in the Mumbai-based company. The IPO will open for public subscription from December 19 to December 23, with anchor investor bidding scheduled for December 18, according to the company’s red herring prospectus (RHP).

The proceeds from the fresh issue will be utilized to meet the company’s working capital requirements, support capital expenditures, and fund general corporate purposes.

Transrail Lighting is a leading engineering, procurement, and construction (EPC) company, specializing in power transmission and distribution. It also operates integrated manufacturing facilities for lattice structures, conductors, and monopoles. The company’s operations span more than 58 countries, with a track record of constructing over 33,500 circuit kilometres of transmission lines and 30,000 circuit kilometres of distribution lines, both domestically and internationally, as of September 30, 2023.

The IPO is being managed by Inga Ventures, Axis Capital, HDFC Bank, and IDBI Capital Markets & Securities as the book-running lead managers.