Transrail Lighting Surges Over 28% on IPO Debut

Transrail Lighting Ltd shares skyrocketed over 28% on their trading debut, soaring to highs of 39.81%. The IPO, substantially oversubscribed by 80.80 times, raised Rs 839 crore, aimed at bolstering working capital and corporate growth. The firm is a leader in power transmission and distribution.

Transrail Lighting Ltd enjoyed an impressive debut on Friday with its shares jumping over 28% above the issue price of Rs 432.

Listing initially at Rs 585.15 on the BSE, the stock reached an intra-day high of Rs 604 before settling at Rs 553.30. On the NSE, shares surged to Rs 590 and concluded at Rs 553.55.

The company's IPO, significantly oversubscribed with a 80.80 times subscription, aimed to raise Rs 839 crore, with a mix of fresh issue and an Offer-for-Sale. Transrail is renowned for its propriety in the power transmission and distribution sector.

(With inputs from agencies.)