By laksh5382 
The initial public offering (IPO) of Transrail Lighting Limited is set to see its last day of public subscription on Monday, December 23. The public issue opened for bidding on Thursday, December 19. stock market Investors will have time till 5 pm on Monday to apply for the public offering.
Transrail Lighting IPO was oversubscribed 5.31 times over the shares on offer as investors bid for 7,38,94,750 shares as against 1,39,16,742 shares on offer. The company has fixed it price band For public issue in the range of Rs. from 410 431 per share, with lot size 34 shares per lot.
Transrail Lighting IPO Latest GMP
As of 22 December, the Gray Market Premium (GMP) for the Transrail Lighting public issue is 175 per share. With upper price band for issue 432, shares are expected to be listed 607 per share, a premium of 40.51 percent, according to data collected from Investorgain.com.
Gray Market Premium (gmp) is an indicator of investors’ willingness to pay more for a public issue. GMP fell to its current level on December 21, and remains at this level at the time of publication of this article. 175. Earlier GMP had increased to 185 on 19 December.
Transrail Lighting IPO Subscription Data
The initial public offering of Transrail Lighting received strong subscription from all three investor tranches till the second day of the public issue.
Non-institutional investors (NIIs) led the bidding round by subscribing 7.23 times more than the shares available for public offering. Retail investors followed NII’s lead and priced the shares on offer for the portion at 6.90 times. Qualified Institutional Buyers (QIBs) also subscribed 1.38 times to the shares available on the second day of Transrail Lighting IPO.
Is Transrail Lighting IPO applicable or not?
Assigning “Subscribe – Long Term” rating to the initial public offering of Transrail Lighting, stock brokerage Anand Rathi Said, “Increasing demand for power along with government initiatives has increased the need for transmission and distribution lines. The company is well positioned to supply T&D products and efficiently manage multiple projects in different countries. We believe the issue is priced appropriately.”
“At the upper band the company is valuing its FY24 EPS at 24.8x. Market capitalization of the company, after issuing equity shares 57,998.6 million, based on FY20 earnings with a market cap-to-sales ratio of 1.4,” the analysts said.
The company aims to use Rs 400 crore was raised from the fresh issue to finance working capital requirements, capital expenditure requirements and general corporate purposes. The issue is scheduled to open on December 23, its last bidding day; The shares are expected to be listed on Friday, December 27.
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