Transrail Lighting has received the Securities and Exchange Board of India’s (SEBI's) approval to float an initial public offering (IPO). The proposed initial share sale is a combination of a fresh issue of equity shares worth Rs 450 crore and an offer for sale of over 1 crore equity shares by a promoter Ajanma Holdings.
Proceeds from the fresh issue to the tune of Rs 250 crore will be used to fund incremental working capital requirements, Rs 90.90 crore to support capital expenditure, and balance amount for general corporate purposes. Inga Ventures, Axis Capital, HDFC Bank, and IDBI Capital Markets & Securities are the book running lead managers to the issue. The equity shares are proposed to be listed on the BSE and NSE.
Transrail Lighting is one of the leading Indian Engineering, Procurement, and Construction (EPC) companies with a primary focus on power transmission and distribution business and integrated manufacturing facilities for lattice structures, conductors, and monopoles.
