Transrail Lighting launched Rs 8.39 billion IPO

Transrail Lighting has launched its IPO to raise Rs 8.39 billion. The IPO comprised a fresh issue of 9.3 million shares aggregating to Rs 4 billion and an offer for the sale of 10.1 million shares, adding up to Rs 4.39 billion. Prior to the IPO, the company raised Rs 2.46 billion from anchor investors. The proceeds from the funds raised will be utilised for working capital requirements, capital expenditure and general corporate purposes. The price band for the issue ranges between Rs 410-Rs 432.