Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
Power sector EPC co. Transrail Lighting’s Rs.839-Cr IPO subscribed 8.55 times
The INR 838.91 crore initial public offering (IPO) of Mumbai-based engineering and construction company Transrail Lighting was oversubscribed 8.55 times. The issue received bids for 11,90,30,940 shares against 1,39,16,742 shares on offer.Non-Institutional Investors (NIIs) subscribed 16.78 times their allotted portion, followed by Retail Individual Investors (RIIs), with 9.40 times, and Qualified Institutional Buyers (QIBs), with 1.40 times subscription. The price band of the IPO is fixed at INR 410-432.The company plans to use the proceeds to fund incremental working capital requirements and support capital expenditure.Transrail Lighting, incorporated in 2008, focuses on power transmission and distribution, as well as manufacturing lattice structures, conductors, and monopoles.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.