Transrail Lighting Limited, a prominent Indian engineering, procurement, and construction (EPC) company specializing in power transmission and distribution, is launching its Initial Public Offering (IPO) on December 19, 2024.
The subscription period will remain open until December 23, 2024.
Who is the CEO of Transrail Lighting Limited?
As of December 2024, Mr. Randeep Narang serves as the Managing Director and Chief Executive Officer (CEO) of Transrail Lighting Limited.
Mr. Narang holds an MBA from Narsee Monjee Institute of Management Studies in Mumbai and has participated in several leadership development and strategic management programs in the United States and India.
With over 36 years of experience, he has held top executive positions in various renowned companies within the infrastructure, telecommunications, and automotive industries, managing complex profit and loss responsibilities across India and abroad.
Under his leadership, Transrail Lighting has expanded its operations both domestically and internationally, securing significant projects in countries such as Bangladesh and Tanzania.
Mr. Narang has also been actively involved with the Indian Electrical and Electronics Manufacturers’ Association (IEEMA), serving as the Chairman of its Transmission & Distribution division and the International Division.
His strategic vision and extensive industry experience have been instrumental in driving Transrail Lighting’s growth and success in the power transmission and distribution sector.
IPO Details:
- Price Band: ₹410 to ₹432 per equity share.
- Issue Size: The IPO aims to raise approximately ₹839 crore, comprising a fresh issue of shares worth ₹400 crore and an offer for sale (OFS) of 1.02 crore shares by the promoter, Ajanma Holdings Private Limited.
- Lot Size: Investors can bid for a minimum of 34 shares, requiring an investment of ₹14,688 at the upper price band.
- Allocation: The offering reserves up to 50% of shares for Qualified Institutional Buyers (QIBs), at least 15% for Non-Institutional Investors (NIIs), and a minimum of 35% for retail investors.
Key Dates:
- Subscription Period: December 19 to December 23, 2024.
- Allotment Finalization: December 24, 2024.
- Initiation of Refunds: December 26, 2024.
- Credit of Shares to Demat Accounts: December 26, 2024.
- Listing Date: December 27, 2024, on both BSE and NSE.
Transrail Lighting IPO Grey Market Premium (GMP):
As per market sources, the latest GMP for Transrail Lighting’s IPO is ₹120, indicating positive investor sentiment. Considering the upper price band of ₹432, the stock is expected to list at a premium of approximately 27.78%, around ₹552 on the stock exchanges.
Company Overview:
Transrail Lighting has a robust presence in the power transmission and distribution sector, with operations spanning 58 countries, including Bangladesh, Kenya, Tanzania, Niger, Nigeria, Mali, Cameroon, Finland, Poland, and Nicaragua. The company has completed over 200 projects since its inception in 2008, showcasing its extensive implementation skills in the industry.
Financial Performance:
- Revenue Growth: The company’s revenue increased by 29.3% to ₹4,076.5 crore in FY24, up from ₹3,152.2 crore in the prior year.
- Profit After Tax (PAT): Net profit surged to ₹233.2 crore in FY24, more than doubling from ₹107.6 crore in FY23.
- EBITDA Margins: As of June 2024, the EBITDA margin was 13.12%, showing an improvement from 11.71% in FY24 and 9.32% in FY23.
Risks and Considerations:
- Dependence on Government Contracts: A significant portion of revenue is derived from government and public sector undertakings, accounting for 70% of total revenue as of June 2024.
- Order Book Volatility: The order book is subject to modifications, cancellations, or delays, which may impact business and financial performance.
- Foreign Exchange Exposure: Operations in multiple countries expose the company to foreign currency fluctuation risks.
Conclusion:
Transrail Lighting’s IPO presents an opportunity to invest in a leading EPC company with a strong track record and significant growth prospects in the power transmission and distribution sector. Potential investors should carefully consider the company’s financial performance, growth strategies, and associated risks before making investment decisions.
Disclaimer:
This information is for educational purposes only and should not be construed as financial advice. Investors are advised to consult with certified financial advisors before making any investment decisions.
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