CAM, JSA act on Transrail Lighting ₹800+ crore IPO

Cyril Amarchand Mangaldas (CAM) and JSA Advocates and Solicitors acted on Transrail Lighting Limited's Initial Public Offering (IPO) of equity shares, aggregating to ₹839 crore.

Inga Ventures Private Limited, Axis Capital Limited, HDFC Bank Limited and IDBI Capital Markets & Securities Limited acted as book running lead managers to the IPO.

Cyril Amarchand Mangaldas acted as the Indian legal counsel to Transrail Lighting on this IPO. CAM also advised the Promoter Selling Shareholder, Ajanma Holdings Private Limited, in its offer for sale of 10,160,000 Equity Shares.

The transaction team consisted of Yash J. Ashar (Senior Partner), Devaki Mankad (Partner, Regional Co-Head, Capital Markets, West), Jhalak Shah (Senior Associate), Tanushri More (Senior Associate), Hitesh Nagpal (Associate), Pratima Pratihar (Associate), Archit Jain (Associate) and Shabri Bose.

JSA advised the Book Running Lead Managers on this IPO.

The transaction team consisted of Arka Mookerjee (Lead Partner), Pracheta Bhattacharya (Partner), Govind Roy (Associate) and Anvita Sinha (Associate).

Transrail Lighting Ltd., a prominent engineering, procurement, and construction (EPC) company specialising in power transmission and distribution, launched its initial public offering (IPO) on December 19, 2024. The IPO, which closed on December 23, aimed to raise approximately ₹839 crore, comprising a fresh issue of ₹400 crore and an offer for sale by its promoter, Ajanma Holdings Pvt. Ltd.

The offering received an overwhelming response, with an overall subscription of 80.8 times. Qualified institutional buyers led the demand, subscribing 201.06 times the allotted portion, while non-institutional investors and retail investors subscribed 76.41 times and 22.07 times, respectively.

On its listing day, December 27, 2024, Transrail Lighting's shares debuted at ₹590 on the NSE, marking a 36.57% premium over the upper IPO price of ₹432. The proceeds from the IPO are intended to fund the company's working capital requirements and capital expenditures, supporting its expansion plans in both domestic and international markets.

If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.