Mon Dec 23 18:52:03 UTC 2024: ## Transrail Lighting IPO Oversubscribed 80 Times on Day 3

**Mumbai, India –** Transrail Lighting Ltd.’s initial public offering (IPO) has seen explosive demand, closing its third day of bidding with a staggering 80.8 times oversubscription. The Rs 838.9 crore IPO received bids totaling Rs 48,575 crore, significantly exceeding expectations.

This surge in interest follows a gradual increase in subscriptions throughout the bidding period, from 2.07 times on Day 1 to 5.31 times on Day 2. The strong demand was particularly evident among qualified institutional buyers (QIBs), who subscribed 201.06 times. Non-institutional investors also showed significant interest, with a subscription rate of 76.41 times.

The IPO comprises a fresh issue of Rs 400 crore and an offer for sale of Rs 438.9 crore by promoter Ajanma Holdings Pvt. A pre-IPO placement of Rs 50 crore had already been completed prior to the public offering. Net proceeds from the fresh issue will be used for working capital requirements (Rs 250 crore) and capital expenditure (Rs 90.73 crore).

Transrail Lighting, an engineering, procurement, and construction (EPC) company specializing in power transmission and distribution, boasts an impressive order book of Rs 10,213.07 crore as of June 2024. The company operates in 58 countries and reported strong financial results for the quarter ended June 2024, with revenue of Rs 896.90 crore and net profit of Rs 51.74 crore.

While the grey market premium (GMP) suggests a potential listing price of Rs 614, a 42.13% increase over the upper end of the IPO price band, investors are cautioned that the GMP is speculative and not an official price indicator. Potential investors are advised to consult financial advisors and review the red herring prospectus carefully before investing.

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