Mon Dec 16 13:29:08 UTC 2024: ## Transrail Lighting Ltd. to Launch ₹400 Crore IPO

**Mumbai, December 16, 2024** – Transrail Lighting Ltd. (TLL), a global player in power transmission and distribution (T&D), announced its initial public offering (IPO) today. The IPO, opening on December 19th and closing on December 23rd, comprises a fresh issue of ₹400 crore and an offer for sale of up to 10,160,000 equity shares by promoter Ajanma Holdings Pvt Ltd. The anchor investor bidding period will run on December 18th.

The price band for the IPO is set at ₹410-₹432 per share, with a minimum bid of 34 shares. According to Managing Director and CEO Randeep Narang, approximately ₹250 crore of the proceeds will fund working capital, ₹90 crore will be allocated to capital expenditure (capex), and the remainder will be used for general corporate purposes.

The capex will primarily focus on expanding manufacturing capacity by 25-30% across TLL’s four integrated facilities in Gujarat, Maharashtra, and Daman & Diu. These facilities produce key components for transmission towers, conductors, and poles, reducing the company’s reliance on external suppliers. TLL also plans to begin producing high-temperature low-sag (HTLS) conductors in collaboration with French firm Epsilon.

Narang confirmed that TLL will maintain its focus on EPC in power T&D, with underground cabling primarily considered as a complementary solution to overhead lines in areas with right-of-way constraints, while pursuing larger international projects like the end-to-end underground cabling project in Suriname.

As of June 30th, 2024, TLL boasted a confirmed order book (excluding L1 positions) of ₹10,213 crore, with a significant 64.47% originating from overseas markets. The company operates globally across 58 countries and currently has projects underway in over 20. Over 90% of its order book is related to power T&D, with the remainder distributed across civil construction, railways, and solar energy. In FY24, TLL had an order inflow of ₹4,383 crore (90% from power T&D projects), with this momentum continuing into Q1FY25 with bookings of ₹944 crore.

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