Transrail Lighting, an engineering and construction firm, has filed draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) to raise funds. The IPO comprises a fresh issue of shares worth Rs 450 crore and an offer-for-sale of 1.01 crore shares by promoter Ajanma Holdings.
The company may also consider a pre-IPO placement of up to Rs 50 crore, with the fresh issue size adjusted accordingly. The funds raised will be allocated towards working capital requirements, capital expenditure, and general corporate purposes.
Leading the issue are INGA Ventures, Axis Capital, HDFC Bank, and IDBI Capital Markets & Securities, with Link Intime India serving as the registrar. Transrail Lighting’s promoters include Ajanma Holdings, Digambar Chunnilal Bagde, and Sanjay Kumar Verma.
In fiscal year 2023, the company recorded a revenue increase of 34.13 percent to Rs 3,152.15 crore, with a profit after tax surge of 66.2 percent to Rs 107.56 crore. In the six-month period ending September 30, revenue reached Rs 1,846.8 crore, and PAT stood at Rs 85.88 crore. The company’s net debt amounted to Rs 474.55 crore, with a debt to equity ratio of 0.62 times.
Transrail Lighting specializes in engineering, procurement, and construction, boasting integrated manufacturing facilities for lattice structures, conductors, and monopoles. With over four decades of experience, the company offers turnkey solutions globally across four verticals: power transmission and distribution (including substations), civil construction, poles and lighting, and railways.
Listed peers of Transrail Lighting include Kalpataru Projects International, KEC International, Skipper, Bajaj Electricals, and Patel Engineering. This IPO represents an opportunity for investors to participate in the growth trajectory of a seasoned player in the engineering and construction sector.
