TMC Transformers (India) has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise Rs 550 crore through an Initial Public Offering (IPO). The proposed IPO is entirely a fresh issue of equity shares with no Offer For Sale (OFS) component.
Proceeds from the fresh issue will be used to fund capital expenditure for setting up a greenfield Extra High Voltage (EHV) transformer manufacturing facility with an aggregate installed capacity of 78,000 MVA at Halol in Gujarat, part-fund the company's incremental working capital requirements, and for general corporate purposes. Anand Rathi Advisors and Intensive Fiscal Services are the book-running lead managers to the issue.
TMC Transformers is an integrated, design-led transformer manufacturer with capabilities across multiple transformer types and voltage classes.
