The Rs 839-cfore Transrail Lighting IPO sailed through within hours of opening on December 19 and saw 2.07x subscription by the end of the day.
The retail portion saw 2.85 times subscription for the 68 lakh shares on offer. Meanwhile, the employee portion got booked 64% for the 4.63 lakh shares on offer.
Non Institutional Investors subscribed for 2.1 times of the 29.17 lakh shares offered. The portion allotted for Qualified Institutional Buyers (QIBs) has been subscribed 78%.
The initial share-sale is scheduled to close on December 23.
Transrail Lighting Ltd has mobilised Rs 246 crore from anchor investors including ICICI Prudential Mutual Fund and Tata Mutual Fund.
Apart from these, Winro Commercial (India) Ltd, Bengal Finance and Investments, SBI General Insurance Company and LIC Mutual Fund are the top anchor investors, according to a circular uploaded on BSE's website.
The company's proposed IPO is a combination of a fresh issue of shares worth Rs 400 crore and an offer for sale of 1.01 crore equity shares by a promoter Ajanma Holdings Private Ltd. The price band has been set at Rs 410-432 per share.
At present, Ajanma Holdings holds a 83.22% stake in the Mumbai-based company.
At the upper end of the price band, the IPO size has been pegged at Rs 839 crore and a market capitalisation of nearly Rs 5,600 crore.
Proceeds from the fresh issue will be used to fund incremental working capital requirements, to support capital expenditure and for general corporate purposes.
Half of the issue has been reserved for qualified institutional buyers, 35 percent for retail investors and the remaining 15% for non-institutional investors.
Transrail Lighting is one of the leading Indian Engineering, Procurement and Construction (EPC) companies with a primary focus on the power transmission and distribution business and integrated manufacturing facilities for lattice structures, conductors, and monopoles.
Inga Ventures, Axis Capital, HDFC Bank and IDBI Capital Markets & Securities are the book running lead managers to the issue.
With inputs from PTI
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