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Transrail Lighting IPO
Price Band
₹410.0–432.0
Issue Size
₹838.91 Cr
Lot Size
34 shares
Min Investment
₹14,688
GMP
+₹165.0 (38.19%)
Issue Price
₹432.0
Subject to Sauda
₹4300
Paid only if allotted
Transrail Lighting IPO AI Summary
- Transrail Lighting IPO is listed on BSE, NSE in the Heavy Electrical Equipment sector.
- Price band: ₹410.0–₹432.0 per share, lot size 34 shares (min. investment ₹14,688).
- Subscription window: 19 Dec–23 Dec 2024, listing on 27 Dec 2024.
- Current GMP is +₹165.0 (38.19%), an estimated listing price of ₹597 — unofficial and can change daily.
Transrail Lighting Limited is an engineering and construction firm focused on power transmission and distribution, with a robust order book and a strong presence in multiple countries. The IPO is priced at ₹432.0, with a minimum investment of ₹14,688. The company aims to utilize the proceeds for working capital, capital expenditure, and general corporate purposes.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Transrail Lighting IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 23 Dec 2024 — not a current signal.
5 of 5 reviewers say Positive
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Transrail Lighting IPO Grey Market Premium (GMP) Today
GMP
+₹165.0
GMP %
+38.19%
Est. Listing
₹597.0
Updated: 25 Jul 2026 14:02
About the Company
Incorporated in February 2008, Transrail Lighting Limited is an engineering and construction company focused on power transmission and distribution and manufacturing lattice structures, conductors, and monopoles. The company provides the following services:- Supply, engineering, procurement and construction of transmission lines and distribution lines. EPC services in civil construction including design in relation to bridges, tunnels, elevated roads and cooling towers. Act as manufacturers and service providers in the poles and lighting segment, including supply, installation, and testing. The company provides railway services, including overhead electrification, signalling, telecommunication, earthworks, and track linking. Since its inception, the company has completed over 200 power transmission and distribution projects. The company has a presence in 58 countries, including Bangladesh, Kenya, Tanzania, Niger, Nigeria, Mali, Cameroon, Finland, Poland, and Nicaragua, with turnkey EPCs and supply projects. As of June 30, 2024, the company has completed the EPC of 34,654 CKM of transmission lines and 30,000 CKM of distribution lines, both domestically and internationally. As of December 2024, the company has four manufacturing units. The first one is situated in Vadodara Gujrat, second one in Deoli, Maharashtra,and third and fourth one in Silvassa, Dadra and Nagar Haveli respectively. As of June 30, 2024, the company supplied 1.3 MMT of towers, 194,534 KM of conductors, and 458,705 poles. As of June 30, 2024, the company has 114 employees in the design and engineering team. Competitive Strength: Strong and diversified Order Book Established manufacturing facilities in four locations Proven track record of growth and established presence in the power transmission and distribution sector through effective implementation and execution skills.
Company Financials (₹ Cr)
As of 2024-06-30
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 4,836.17 | 4,620.61 | 3,445.49 | 2,841.87 |
| Total Income | 929.70 | 4,130.00 | 3,172.03 | 2,357.20 |
| Profit After Tax | 51.74 | 233.21 | 107.57 | 64.71 |
| NET Worth | 1,140.65 | 1,075.87 | 709.15 | 599.32 |
| Total Borrowing | 603.43 | 643.19 | 604.92 | 469.12 |
Key Ratios
EPS
₹18.66
NAV
₹92.00
ROE
24.41%
ROCE
24.33%
RoNW
21.68%
P/B Value
4.70
P/E Ratio
23.15
Market Cap
₹5799.86 Cr
PAT Margin
5.65%
Debt/Equity
0.56
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Bajel Projects Limited | 49 | 0.8% | 702.97 | 0.37 | 0.37 |
| Patel Engineering Ltd. | 38 | 9.56% | 15.57 | 3.64 | 3.54 |
| Skipper Ltd | 84 | 9.1% | 75.97 | 7.66 | 7.14 |
| Kalpataru Projects International Limited | 316 | 10% | 36.72 | 31.76 | 31.76 |
| Kec International Ltd. | 159 | 8.5% | 91.95 | 13.49 | 13.49 |
| Transrail Lighting Limited This IPO | 86.79 | 21.68% | — | 19.59 | 19.59 |
Promoters
Ajanma Holdings Pvt.Ltd., Digambar Chunnilal Bagde and Sanjay Kumar Verma
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding incremental working capital requirements of the Company; 250.00 2 Funding capital expenditure of our Company; and 90.73 3 General corporate purposes. 81.12
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹2,357.20 Cr in the year ending 31 Mar 2022, rising to ₹3,172.03 Cr by 31 Mar 2023, and further increasing to ₹4,130.00 Cr by 31 Mar 2024. However, the most recent figure for total income was ₹929.70 Cr as of 30 Jun 2024, which is a 9-month figure and not directly comparable to the full-year figures.
Profit Trend
Profit After Tax was ₹64.71 Cr for the year ending 31 Mar 2022, increasing to ₹107.57 Cr by 31 Mar 2023, and further rising to ₹233.21 Cr by 31 Mar 2024. The latest figure for profit after tax as of 30 Jun 2024 was ₹51.74 Cr, though this is a 9-month figure and not directly comparable to the full-year figures.
Valuation
Transrail Lighting Limited has an implied P/E ratio of 23.15 at the issue price. This is compared to peers with P/E ratios ranging from 15.57 to 702.97.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of the expected listing price of an IPO. It reflects the demand and supply dynamics of the shares before they are officially listed on the stock exchange. A positive GMP suggests that the shares are likely to list at a higher price than the issue price, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy, considering factors such as the company's growth potential, market conditions, and their own financial goals.
Who May Want to Wait
Investors with a low risk tolerance or those who prefer stable, established companies may want to avoid IPOs like this, which can be more volatile and uncertain in terms of performance.
IPO Timeline, Explained
The IPO is set to open on December 19, 2024, and will close on December 23, 2024. Allotment of shares will be done on December 24, 2024, and the shares are expected to be listed on December 27, 2024.
Listing Gains — The Risk
Listing gains can be unpredictable and depend on various factors including market conditions, investor sentiment, and overall demand for the stock. It's important to remember that while some IPOs may see significant gains on their listing day, others may not perform as well, and investments can result in losses.
This evaluation is generated from Transrail Lighting's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Transrail Lighting IPO GMP today?
Transrail Lighting IPO GMP today is +₹165.0 (38.19%), indicating an estimated listing price of ₹597. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Transrail Lighting IPO?
The price band of Transrail Lighting IPO is ₹410.0–₹432.0 per share.
When does Transrail Lighting IPO open and close?
Transrail Lighting IPO opens on 19 December 2024 and closes on 23 December 2024.
When does Transrail Lighting IPO list on the stock exchange?
Transrail Lighting IPO listed on 27 December 2024 at ₹597.0.
What is the lot size for Transrail Lighting IPO?
The lot size for Transrail Lighting IPO is 34 shares, requiring a minimum investment of ₹14,688.
What is the price band for the IPO?
The price band for the IPO is ₹410.0 to ₹432.0.
What is the minimum investment required?
The minimum investment required is ₹14,688.0.
What is the lot size for the IPO?
The lot size for the IPO is 34 shares.
When is the listing date?
The listing date is December 27, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium or discount at which the shares may list compared to the issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
19 Dec 2024
Close
23 Dec 2024
Allotment
24 Dec 2024
Listing
27 Dec 2024
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