Transrail Lighting Limited’s initial public offering (IPO) is scheduled to witness its last day of public subscription on Monday, December 23. Because of the period of application for public sale.
The Transrail Lighting IPO was subscribed 5.31 times as much as the offer shares, with investors bidding for 7,38,94,750 shares as against the offer shares of 1,39,16,742. The company determines the pricing range for public issuance as $Chapter 410 $431 shares per share, 34 shares per lot.
Transrail Lighting IPO Latest GMP
As of December 22, the gray market premium (GMP) for Transrail Lighting’s public offering was $175 per share. The upper limit of the issuance price is $432, expected stock listing time $That’s $607 per share, a premium of 40.51%, according to data collected by Investorgain.com.
The gray market premium (GMP) is an indicator of how much investors are willing to pay for a public offering. GMP was reduced to current levels on December 21 and at the time of publication was $175. Earlier, GMP increased to $December 19, 185.
Transrail Lighting IPO Subscription Data
Transrail Lighting’s initial public offering was strongly subscribed by all three investors as of its second day of public offering.
Non-institutional investors (NIIs) led the bidding in this round, subscribing 7.23 times more public offering shares than existing shares. Retail investors followed NII’s lead and bought shares at 6.90 times the portion of the offer. Qualified institutional buyers (QIBs) also subscribed 1.38 times the available shares on the second day of Transrail Lighting’s IPO.
Transrail Lighting IPO To apply or not to apply?
Stockbroker Anand Rathi, who has a “Subscribe – Long” rating on Transrail Lighting’s IPO, said: “Growing power demand, coupled with government initiatives, has driven demand for transmission and distribution lines. The company is in We are well positioned to supply transmission and distribution products and effectively manage multiple projects in various countries. We believe the pricing for this issue is reasonable.
“The company’s valuation is at a relatively high level, which is 24.8 times earnings per share in fiscal year 2024. After this issuance of shares, the company’s market value is $57.9986 billion US dollars, based on fiscal year 2024 profits, the market capitalization to sales ratio is 1.4.
The company aims to leverage $The fresh issue raised Rs 400 crore for working capital requirements, capital expenditure requirements and general corporate purposes. The offering is scheduled to open on December 23, the last day for bidding; the shares are expected to be listed on Friday, December 27.
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