Engineering and construction company Transrail Lighting has filed draft papers with the Securities and Exchange Board of India to raise funds through an initial public offering (IPO). The offer comprises a fresh issue of shares worth Rs 450 crore and an offer-for-sale of 1.01 crore shares by promoter Ajanma Holdings.
The company may consider a pre-IPO placement aggregating up to Rs 50 crore and the fresh issue size will be reduced accordingly.
Of the fresh proceeds, Rs 250 crore will be used to meet working capital requirements and Rs 90.9 crore to support capital expenditure. The remaining will be used for general corporate purposes.
INGA Ventures, Axis Capital, HDFC Bank and IDBI Capital Markets & Securities are the lead managers to the issue. Link Intime India is the registrar for the issue. Ajanma Holdings, Digambar Chunnilal Bagde and Sanjay Kumar Verma are promoters.
Also Read: Gopal Snacks disappoints on debut: Should you buy, sell or hold the stock?
In FY23, the company’s revenue (including other operating revenue) rose 34.13 percent from the previous year to Rs 3,152.15 crore in the year-ago period. Profit after tax jumped 66.2 percent to Rs 107.56 crore.
In the six-month period ended September 30, revenue stood at Rs 1,846.8 crore and PAT at Rs 85.88 crore. Net debt was at Rs 474.55 crore and debt to equity ratio was 0.62 times.
Transrail Lighting’s listed peers are Kalpataru Projects International, KEC International, Skipper, Bajaj Electricals and Patel Engineering.
Transrail is an engineering, procurement and construction company with integrated manufacturing facilities for lattice structures, conductors, and monopoles and with over four decades of experience in providing comprehensive solutions on a turnkey basis globally.
The business has four verticals — power transmission and distribution (including substations), civil construction, poles and lighting and railways.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
