New Delhi, Dec 11 (PTI) Transrail Lighting Ltd is gearing up to launch its public offering on December 19, featuring a fresh issuance of equity shares worth Rs 400 crore.

Apart from the fresh issue, the initial public offering (IPO) comprised an offer for sale of 1.01 crore equity shares by promoter Ajanma Holdings Private Limited, according to the red herring prospectus (RHP).

Also Read | Who Is Prahlad Iyengar, Indian-Origin PhD Scholar Suspended by MIT Over 'Pro-Palestine' Essay?.

At present, Ajanma Holdings holds an 83.22 per cent stake in the Mumbai-based company.

The initial share sale will open for public subscription from December 19-23. The bidding for anchor investors will open for a day on December 18, the RHP showed.

Also Read | Kolkata Fatafat Result Today: Kolkata FF Result for December 11, 2024 Declared, Check Winning Numbers and Result Chart of Satta Matka-Type Lottery Game.

Proceeds from the fresh issue will be used to fund incremental working capital requirements, support capital expenditure and for general corporate purposes.

Transrail Lighting is one of the leading Indian engineering, procurement and construction (EPC) companies with a primary focus on power transmission and distribution business and integrated manufacturing facilities for lattice structures, conductors and monopoles. It has a footprint in more than 58 countries.

As of September 30, 2023, the company has undertaken an EPC of 33,500 circuit kilometres (CKM) transmission lines and 30,000 CKM distribution lines, domestically and internationally.

Inga Ventures, Axis Capital, HDFC Bank and IDBI Capital Markets & Securities are the book-running lead managers to the issue.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)