Transrail Lighting was listed at Rs 590 on the National Stock Exchange, a premium of 36.5% to the issue price. It was listed at Rs 585 on the BSE, a premium of 35%.
Transrail Lighting IPO GMP
The stock of Transrail Lighting was fetching a premium of 38% in the grey market, which suggested that it might list around Rs 597 on the exchanges. The grey market is an unofficial place to trade shares ahead of listing.
Transrail Lighting IPO details
It received a total subscription rate of nearly 82 times. The retail investors booked the issue 22.62 times and employees booked it 4.39 times. The QIBs subscribed to the issue 197.41 times. The NIIs booked the issue 78.31 times. The IPO opened for subscription between December 19 and December 23. The allotment of the shares was finalised on December 24. The company raised a sum of Rs 838.91 crore from investors through a combination of fresh shares as well as an offer for sale.
Transrail Lighting IPO review
“We expect significant growth in the T&D market by increasing electricity demand, government initiatives, a strong thrust on sustainability and rising adoption of smart grid technologies, transmission system plan for integration of over 500 GW RE capacity by 2030. With a healthy orderbook of international and domestic clients, experienced promoters with a strong management team and consistent financial performance, the growth momentum would continue in the coming years. Hence, we recommend a ‘Subscribe’ to the issue,” said Reliance Securities in an IPO note.
About Transrail Lighting
Transrail Lighting is an Indian engineering, procurement and construction (“EPC”) company primarily focused on power transmission and distribution business and integrated manufacturing facilities for lattice structures, conductors, and monopoles. The company has completed more than 200 projects in the power transmission and distribution vertical since its inception. It also has comprehensive and extensive project execution capabilities in terms of manpower, supply of materials (including self-manufactured products) and availability of world-class machinery, both in India and internationally (majorly across Asia and Africa).