Mumbai based EPC Contractor Company Transrail Lighting files DRHP with SEBI for the proposed IPO; Key Details here

Transrail Lighting is into Engineering EPC Contractor and is looking raise funds through Fresh Issue and Offer For Sale

Transrail LightingIPO: Fresh Issue of Equity shares aggregating up to Rs.450 crores. Offer of Sale of 10,160,000 Equity Shares through public issue IPO

Transrail Lighting IPO: Transrail Lighting Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 2 per share via initial public offering.

Promoters of Transrail Lighting are Ajanma Holdings Private Limited, Digambar Chunnilal Bagde and Sanjay Kumar Verma and holds 86.31% stake in the company.

Key Details:

• Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 450 crores and an Offer for Sale of Up to 10,160,000 Equity Shares.
• Inga Ventures, Axis Capital, HDFC Bank, IDBI Capital have been appointed as lead merchant bankers for the proposed IPO.
• It has appointed Link Intime India Pvt. Ltd. as Registrar and Share transfer Agent.
• Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 450 Crs and offer-for-sale (OFS) of up to 10,160,000 equity shares by Promoter selling shareholder include Ajanma Holdings Pvt Ltd. who will offload Up to 10,160,00 Equity Shares..

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Objects of the issue:
1) Rs250 cr for working capital 2) Rs90.9 cr for capital expenditure and, 3) General corporate Purpose.

About Company:
Established in 2008, Transrail Lighting is into engineering, procurement and construction sector with primary focus on power transmission and distribution business and integrated manufacturing facilities for lattice structures, conductors, and monopoles. Company has a track record of four decades in providing comprehensive solutions on a turnkey basis globally. Company's business is divided into four verticals, namely (i) power transmission and distribution, (ii) civil construction, (iii) poles and lighting, and (iv) railways

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About Industry:
The power transmission and distribution system across India has expanded extensively. The total length of domestic transmission lines rose from 413,407 circuit kilometres (“CKM”) in Financial Year ended March 31, 2019 to 471,341 CKM in Financial Year ended March 31, 2023. Further, India has the second-largest road network in the world, spanning 6.30 million KM. Large highways/expressways are the key demand drivers for the high mast lighting in India. With more than 20 expressways planned across the country and with award of approximately 5,000 KM of highways every year in the next five Financial Years, the demand for high masts is expected to be supported by road segment.

Source: SEBI, BSE, NSE, DRHP, Transrail Lighting, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.