Transrail Lighting IPO
Transrail Lighting Limited (TRANSRAILL) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 27 December 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +53.7% (likely range +29% to +82%), day's high +63.4%, chance of a gain 92%. Actual: +36.6% at the open, +40.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 37,26,985 | 74,93,50,922 | 201x | |
| NII (HNI) total | 29,17,903 | 22,29,51,192 | 76.4x | |
| Big NII (above ₹10 lakh) | 19,45,269 | 15,14,54,292 | 77.9x | |
| Small NII (₹2-10 lakh) | 9,72,634 | 7,14,96,900 | 73.5x | |
| Retail | 68,08,440 | 15,02,51,712 | 22.1x | |
| Employees | 4,63,414 | 18,86,626 | 4.07x | |
| Total | 1,39,16,742 | 1,12,44,40,452 | 80.8x |
Bids on NSE and BSE together, as published by NSE, as of 23 Dec 2024, 07:00 PM. Shares offered exclude the anchor portion. 12% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Transrail Lighting's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Azad EngineeringDec 2023 | 180x | 87.6x | 23.8x | 80.7x | ₹751 Cr | +37.4% | +38.7% |
| Harsha Engineers InternationalSep 2022 | 178x | 71.3x | 17.6x | 74.7x | ₹794 Cr | +36.4% | +59.9% |
| Netweb Technologies IndiaJul 2023 | 229x | 81.8x | 19.2x | 90.4x | ₹625 Cr | +89.4% | +90.4% |
| Happy ForgingDec 2023 | 220x | 62.2x | 15.1x | 82.0x | ₹1,006 Cr | +17.6% | +27.9% |
| Ecos (India) Mobility & HospitalityAug 2024 | 137x | 71.2x | 19.8x | 64.3x | ₹601 Cr | +16.8% | +36.5% |
| Senco GoldJul 2023 | 181x | 65.0x | 15.5x | 73.4x | ₹427 Cr | +35.6% | +40.1% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Inga Ventures | 3 | +17.1% | 100% |
| Axis Capital | 107 | +20.4% | 73% |
| HDFC Bank | 16 | +15.8% | 75% |
| IDBI Capital Markets & Securities | 7 | +19.1% | 43% |
Offer documents (NSE)
Frequently asked
What is the Transrail Lighting IPO price band and lot size? ₹410–432 per share, with a lot of 34 shares, so the smallest retail bid is ₹14,688.
How many times has it been subscribed? 80.8x overall: QIB 201x, NII 76.4x, retail 22.1x, employees 4.07x.
How did it list? It opened at ₹590, +36.6% against the issue price of ₹432, and closed its first day +28.1%.
