Transrail Lighting's IPO Skyrockets with 80.80x Subscription

Transrail Lighting's initial public offering (IPO) was oversubscribed 80.80 times on the closing day, attracting bids for over 112 crore shares against the 1.39 crore on offer. With a price band of Rs 410-432 per share, the IPO aims to raise funds for capital requirements and other corporate needs.

Transrail Lighting's initial public offering (IPO) surged in popularity, attracting a monumental 80.80 times subscription by the end of the sale period on Monday. Share bids reached 1,12,44,40,452 against the 1,39,16,742 shares available, according to the latest data from the National Stock Exchange (NSE).

The IPO was met with robust interest across investor categories. Notably, the quota earmarked for Qualified Institutional Buyers (QIBs) was oversubscribed by a staggering 201.06 times, while non-institutional and retail investor categories received 76.41 and 22.07 times subscriptions, respectively.

The Rs 839-crore offering comprises a fresh issue of Rs 400 crore shares alongside an Offer-for-Sale by Ajanma Holdings Pvt Ltd. The proceeds are earmarked for capital expenditure and general corporate purposes, strengthening the company's position in the power transmission and distribution sector.

(With inputs from agencies.)