Transrail Lighting IPO subscribed 10.84 times on Day 3 so far. Check GMP, review and other details
initial public offer (IPO) of Transrail Lighting was fully subscribed on Monday, with an overall subscription of 10.84 times by 11:30 AM on its final day of bidding. The IPO consists of a fresh equity issue worth Rs 400 crore and an offer-for-sale (OFS) of 1.01 crore shares, with the issue set to close on December 23.
Subscriptions from retail investors stood at 10.84 times, while non-institutional investors subscribed 23.71 times on the final day of bidding. Meanwhile, qualified institutional buyers subscribed to 1.86 times the allotted portion.
At the upper price band, the OFS of 1.01 crore shares by promoter Ajanma Holdings is valued at Rs 439 crore, bringing the total issue size to about Rs 839 crore and the company’s market capitalization to around Rs 5,800 crore.
The proceeds from the fresh issue will be utilized to meet incremental working capital requirements, fund capital expenditure, and support general corporate purposes.
Promoters currently own an 84.51% stake in the company, while the remaining 15.49% is held by public investors, including Asiana Alternative Investment Fund, Canara Bank, and Volrado Venture Partners Fund.
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