2024-12-19 10:39:13 :
New Delhi, Dec 19 (PTI) Transrail Lighting Ltd has mobilized $Rs 246 crore came from major investors including ICICI Prudential Mutual Fund and Tata Mutual Fund.
Apart from this, Winro Commercial (India) Ltd, Bengal Finance and Investments, SBI General Insurance Company and LIC Mutual Fund are the largest major investors, according to a notification uploaded on the BSE website.
Transrail Lighting has placed 5.694 million shares to 19 funds, according to the notice $432 pieces, which is also the upper limit of the price range. This summarizes the transaction size as $245.97 Crores.
this $The Rs 839-crore IPO will be open for public subscription from December 19 to December 23. The price range has been set as $410-432 per share.
The company’s proposed initial public offering is a combination of the value of the newly issued shares $400 crore, promoter Ajanma Holdings Private Ltd made an offer to sell stake of Rs 101 crore.
Ajanma Holdings currently holds 83.22% stake in the Mumbai-based company.
At the upper end of the price range, the IPO size is fixed at $839 crore, with a market capitalization of nearly $56 billion rupees.
Proceeds from the new issue will be used to meet incremental working capital requirements, support capital expenditures and general corporate purposes.
Half of it is issued to qualified institutional investors, 35% is issued to retail investors, and the remaining 15% is issued to non-institutional investors.
Additionally, investors can bid for at least 34 shares and multiples thereof.
Transrail Lighting is one of India’s leading engineering, procurement and construction (EPC) companies primarily focused on power transmission and distribution operations and integrated manufacturing facilities for lattice structures, conductors and monopoles.
It has a footprint in more than 58 countries. Inga Ventures, Axis Capital, HDFC Bank and IDBI Capital Markets & Securities were the lead managers for the issue.
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