Transrail Lighting IPO subscribed 3.49x on Day 2 so far. Check GMP, review and other details
subscription of 3.49 times by 12:39 PM on its second day of bidding. The IPO issue is a mix 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 4.86 times, while the non institutions investors had subscribed by 4.12 times on the second day of bidding. Meanwhile, the qualified institutional buyers had subscribed to 78% of 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, taking the total issue size to about Rs 839 crore and bringing 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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