Friday, March 15, 2024

Transrail Lighting Limited Filed DRHP With Market Regulator SEBI

DRHP Link:

Transrail Lighting Limited (“The Company” or “TLL”) has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”) and BSE Limited and National Stock Exchange of India Limited.  

The Company is one of the leading Indian engineering, procurement and construction (“EPC”) companies with integrated manufacturing facilities for lattice structures, conductors, and monopoles. TLL have a track record of four decades in providing comprehensive solutions on a turnkey basis globally and have been a trusted and longstanding partner in the power transmission and distribution sector.

The Company plans to raise fund by offering equity shares of face value ? 2 each (“Equity Shares”) through Initial Public Offering. The total offer size comprises of Fresh Issue of Equity Shares aggregating up to ? 4,500 million (?  450 crore) and an offer for sale of up to 10,160,000 of Equity Shares ("Offer for Sale”) by Ajanma Holdings Private Limited. (The “Promoter Selling Shareholders”), . (The “Offer”)

The Company proposes to utilize the net proceeds from the Offer towards funding incremental working capital requirements upto ? 2,500 million (? 250 crore), funding capital expenditure upto  ? 909.02 million (? 90.90 crore) and balance amount for general corporate purposes. (The “Objects of the Offer”) 

According to the CRISIL Report, TLL has also reported the highest growth in its revenue from operations at 35.1% among its peers in Financial Year ended March 31, 2023.

Inga Ventures Private Limited, Axis Capital Limited, HDFC Bank Limited and IDBI Capital Markets & Securities Limited are the Book Running Lead Managers to the Offer. (The “BRLMs”)

About The Company:

Transrail Lighting Limited has a footprint in more than 58 countries like Bangladesh, Kenya, Tanzania, Niger, Nigeria, Mali, Cameroon, Finland, Poland, Nicaragua etc. including turnkey EPCs or supply projects. As of September 30, 2023, the company has undertaken EPC of 33,500 circuit kilometers (“CKM”) transmission lines and 30,000 CKM distribution lines, domestically and internationally. Transrail Lighting Limited provides EPC services in relation to substations up to 765 kilovolts. The company has presence in all the power transmission and distribution segments and majorly in high voltage and extra high voltage segments.

Other than the power transmission and distribution business, Transrail Lighting Limited also has other business verticals, such as, civil construction, poles and lighting, and railways. Over a period of time, the company has steadily invested into backward integration by adding manufacturing units for towers, conductors and poles to their business and have developed the ability to provide comprehensive solutions including designing, manufacturing, procuring, testing and supplying of conductors, towers etc. for their EPC projects and also towards direct supplies. Generally, these products and services cover a substantial part of the EPC value in a typical transmission line project, which reduces their dependency on third-party suppliers.

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