Transrail Lighting lists at ₹590 on NSE

27 Dec 2024 , 09:54 AM

Transrail Lighting listed on the D-street at 37% premium. The shares listed at ₹590 on NSE, 36.57% higher from the issue price of ₹432 and at ₹585.15 on BSE.

Engineering and construction firm Transrail Lighting raised ₹839 crore via its IPO, which closed on December 23. The IPO was priced at ₹410-432 per share and included a fresh issue of ₹400 crore and an offer-for-sale of 1.01 crore shares by promoter Ajanma Holdings. Funds from the fresh issue will be used for working capital, capital expenditure, and general corporate purposes.

Transrail Lighting’s strong order book and integrated manufacturing of lattice structures, conductors, and monopoles support steady revenue growth. The company is expanding into new markets and products, backed by rising power demand and government initiatives in the transmission sector.