Transrail Lighting IPO - Day 1 Subscription at 0.40 Times

On its opening day, Transrail Lighting's initial public offering has demonstrated a measured start, with overall subscription reaching 0.40 times by 11:04 AM on December 19, 2024. This initial response reflects the market's careful evaluation of India's leading engineering and construction company in the power transmission and distribution sector.

Transrail Lighting IPO early subscription pattern shows encouraging retail investor interest, with this segment achieving 0.71 times subscription. The Non-Institutional Investors have shown selective participation at 0.26 times, with stronger interest from smaller NIIs at 0.53 times compared to larger NIIs at 0.13 times. The QIB portion is yet to see participation, though this is typical for institutional investors who often evaluate the issue over its entire subscription period. The employee portion has begun with 0.20 times subscription, indicating initial internal participation.

Subscription Status of Transrail Lighting IPO:

*As of 11:04 AM

Here are the subscription details for Transrail Lighting IPO as of Day 1 (19th December 2024, 11:04 AM):

Total Applications: 1,27,956

Key Highlights:

• Overall subscription commenced at 0.40 times, showing measured initial response
• Retail investors demonstrated early interest with 0.71 times subscription, worth ₹202.987 crores
• NII category began with 0.26 times subscription, with stronger sNII participation
• Employee portion started at 0.20 times, indicating initial internal participation
• Strong anchor book of ₹245.974 crores provides solid foundation
• Total bids received for 55.25 lakh shares worth ₹238.717 crores
• Applications reached 1,27,956, showing broad initial interest
• Opening day response reflects methodical market assessment

About Transrail Lighting Limited:

Established in February 2008, Transrail Lighting Limited has grown into a leading engineering and construction company specializing in power transmission and distribution infrastructure. The company's comprehensive portfolio includes manufacturing lattice structures, conductors, and monopoles, alongside providing end-to-end EPC services for transmission lines, distribution networks, and railway infrastructure.

With operations spanning 58 countries and successful completion of over 200 power transmission and distribution projects, the company has demonstrated strong execution capabilities. Their impressive track record includes EPC completion of 34,654 CKM of transmission lines and 30,000 CKM of distribution lines as of June 2024. The company operates four strategic manufacturing units across Gujarat, Maharashtra, and Dadra and Nagar Haveli, supported by 114 employees in their design and engineering team.

Their financial performance has been robust, achieving 30.2% revenue growth and 116.8% PAT increase between FY2023 and FY2024, underlining their strong operational execution and market position in the power infrastructure sector.

Highlights of the Transrail Lighting IPO:

• IPO type: Book Built Issue
• IPO size: ₹838.91 crores
• Fresh Issue: ₹400.00 crores
• Offer for Sale: ₹438.91 crores
• Face value: ₹2 per share
• Price band: ₹410 to ₹432 per share
• Lot size: 34 shares
• Minimum investment for retail investors: ₹14,688
• Minimum investment for sNII: ₹2,05,632 (14 lots)
• Minimum investment for bNII: ₹10,13,472 (69 lots)
• Listing at: BSE, NSE
• IPO opens: December 19, 2024
• IPO closes: December 23, 2024
• Allotment date: December 24, 2024
• Refund initiation: December 26, 2024
• Credit of shares: December 26, 2024
• Listing date: December 27, 2024
• Lead Managers: Inga Ventures Pvt Ltd, Axis Capital Limited, HDFC Bank Limited, IDBI Capital Market Services Limited

Registrar: Link Intime India Private Ltd

The initial day's subscription pattern suggests a methodical market approach to evaluating Transrail Lighting's strong position in the power infrastructure sector and its potential to capitalize on growing infrastructure development opportunities both domestically and internationally.