Transrail Lighting IPO: A Resounding Success with Significant Oversubscription

The IPO of Transrail Lighting was considerably oversubscribed, achieving 5.31 times the initial offering. With a Rs 839-crore share sale, the company attracted significant interest, notably from non-institutional and retail investors. Funds will support working capital, capital expenditure, and general corporate purposes.

On the second day of its public offering, Transrail Lighting saw a substantial 5.31-fold oversubscription, indicating a robust investor interest. The company's Rs 839-crore IPO captured bids for an impressive 7,38,94,750 shares compared to the 1,39,16,742 shares available.

The non-institutional investors drove this demand, with their allotment seeing a 7.23-fold subscription. Retail individual investors were not far behind with a 6.90-times subscription. Qualified institutional buyers also participated, subscribing 1.38 times their allotment.

The IPO proceeds, which include Rs 246 crore from anchor investors, will be directed towards Transrail Lighting's working capital, capital expenditure, and other corporate purposes. The company's robust global presence in EPC for power transmission positions it for continued growth.

(With inputs from agencies.)