Initial public offering of Transformers & Rectifiers (India) (TRIL) subscribed 3.03 times on penultimate day till 3 p.m. The issue received 9.07 million bids as against issue size of 2.99 million shares. A total of 1.82 million bids were received at the cut off price. The issue is open till December 12 and the price band has been fixed between Rs 425 to Rs 465 a share of Rs 10 each.
The issue has been graded by Care with an IPO Grade 4, indicating above average fundamentals, to the proposed IPO of TRIL. The issue would constitute 23.17% of the fully diluted post issue paid-up equity share capital of our company. The equity shares of the company, offered through this IPO, are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). ENAM Securities is helping to raise maximum of Rs 1,392.67 million via this public issue.
Incorporated in 1994, TRIL is engaged in the manufacturing of electrical transformers for power sector and industrial applications. It has manufacturing facilities located at Changodar and Odhav in Ahmedabad for producing 7,200 mva of transformers per annum. It manufactures and distributes industrial transformers up to 33 kv class at its Odhav facility and power transformers from 66 kv up to 220 kv class at its Changodar facility. It controls two subsidiaries namely Transweld Mechanical Engineering Works and Transpares with 100% and 51% stake respectively.
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