Transrail Lighting IPO Day 1 Live Updates: Check GMP trends, anchor details, subscription status, review, more

livemint.com:

₹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.Stay tuned for more updatesThe company plans to raise Rs. 838 cr.

with fresh issue of Rs. 400 cr. to be used in WC requirements & capex.

At the upper price-band of Rs. 432, the issue is available at P/E of ~25 times against 50-60 times on average of listed peers leaving an opportunity for investors to play the T&D bet. We recommend “SUBSCRIBE" to the IPO.Transrail Lighting IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.