Indian Stock Market

Transformers & Rectifiers IPO :Transformers & Rectifiers fixes IPO price band Rs 425-Rs 465/shr

Transformers and Rectifiers (India) has fixed a price band of Rs 425-465 per share for its 29.95 lakh equity share book-building offer.

At the lower price band of the Rs 10 face value share, the company will raise around Rs 127.28 crore and at the cap-price it would garner Rs 139.26 crore.

The initial public offering has been graded CARE IPO grade 4 by Credit Analysis & Research, indicating above average fundamentals.

The manufactures transformers ranging from power generation, transmission and distribution transformers, industrial and specialty transformers. Objects of the issue are to part finance the setting up of the proposed greenfield manufacturing facility at Moraiya, near Ahmedabad, Gujarat.

Net issue will constitute 22.01 per cent of the fully diluted post issue paid-up capital. The equity shares are proposed to be listed on the Bombay Stock Exchange and National Stock Exchange.

Enam Securities is the book running lead manager to the issue