Transrail Lighting Limited IPO GMP: Hey investors! If you're searching for "Transrail Lighting Limited IPO GMP," you're likely curious about how this power transmission and lighting specialist performed during its IPO frenzy back in December 2024 and where the stock stands today in August 2025. While GMP (Grey Market Premium) is a pre-listing buzzword, it gave early hints of a stellar debut—and boy, did it deliver! Transrail Lighting Limited (NSE: TRANSRAILL) went public amid high demand, listing at a solid premium, and has since shown decent growth amid market volatility.
In this comprehensive guide—updated as of August 20, 2025—we'll dive deeper than the usual suspects (like Chittorgarh, Sharescart, Screener, and InvestorGain) by covering historical GMP trends, subscription details, financial breakdowns, post-listing performance, risks, and expert insights. Whether you're a retail investor eyeing long-term holds or a trader watching for dips, we've got tables, pros/cons, and actionable advice to help you decide. Let's light up the details!
What is GMP and Why It Mattered for Transrail Lighting IPO?
GMP, or Grey Market Premium, is the unofficial price at which IPO shares trade in the informal market before official listing. It's a sentiment gauge—positive GMP signals strong demand and potential listing gains. For Transrail Lighting's ₹839 crore IPO (a mix of fresh issue and offer-for-sale), GMP started low but surged as subscriptions poured in.
- Historical GMP Trends (Pre-Listing, Dec 2024): From sources like InvestorGain and IPOWatch, GMP kicked off around ₹120 on Dec 18, climbed to ₹145 by opening day (Dec 19), hit ₹165 mid-subscription, and peaked at ₹192 just before allotment. This implied expected listing prices of ₹552-₹624, a 28-44% premium over the ₹432 upper band.
| Date (Dec 2024) | GMP (₹) | Expected Listing Price (₹) | Implied Premium (%) |
|---|---|---|---|
| Dec 18 (Pre-Open) | 120 | 552 | 27.78 |
| Dec 19 (Day 1) | 145 | 577 | 33.56 |
| Dec 20 (Day 2) | 160 | 592 | 37.04 |
| Dec 23 (Close) | 165 | 597 | 38.19 |
| Dec 24 (Allotment Eve) | 192 | 624 | 44.44 |
| Dec 25 (GMP Peak) | 192 | 624 | 44.44 |
GMP stayed bullish due to robust QIB interest and the company's strong order book in power infra. Note: GMP isn't guaranteed and can fluctuate based on market mood—always cross-check official sources.
Transrail Lighting IPO Overview: Key Details
Transrail Lighting Limited, a leader in engineering, procurement, and construction (EPC) for power transmission, distribution, and lighting solutions, raised funds for working capital, capex, and general purposes. With operations in 58 countries and a focus on sustainable infra like LED lighting and railway electrification, it's tied to India's power sector boom.
- Issue Size: ₹838.91 Cr (Fresh: ₹400 Cr; OFS: ₹438.91 Cr)
- Price Band: ₹410-₹432 per share (Face Value: ₹2)
- Lot Size: 34 shares (Min Investment: ₹14,688 for retail)
- Dates: Opened Dec 19, 2024; Closed Dec 23, 2024
- Allotment: Dec 24, 2024
- Refund/Credit: Dec 26, 2024
- Listing Date: Dec 27, 2024 (BSE & NSE)
- Registrar: KFin Technologies
- Lead Managers: DAM Capital, Equirus Capital
- Objectives: Boost working capital (₹250 Cr), capex for new facilities (₹100 Cr), and corporate needs.
- Promoters: Ajanma Holdings (pre-IPO holding: 84.5%; post: 71.12% as of Jun 2025)
The IPO was oversubscribed 81.98x, reflecting hype around infra stocks amid govt's ₹11 lakh Cr capex push.
Subscription Status: A Breakdown
Demand was massive, especially from QIBs (197x). Retail lagged relatively but still hit 22x.
| Category | Subscription (Times) | Shares Offered | Shares Bid |
|---|---|---|---|
| QIB | 197.41x | 9,709,629 | 1,916M |
| NII (HNI) | 78.31x | 2,912,889 | 228M |
| Retail | 22.62x | 6,796,740 | 153M |
| Total | 81.98x | 19,419,259 | 1,592M |
Day-wise: Day 1 (2.13x), Day 2 (10.5x), Day 3 (81.98x). This beat many 2024 IPOs, driven by positive analyst calls.
Listing Performance: Did GMP Deliver?
Yes! Shares listed at ₹590 on Dec 27, 2024—a 36.57% premium over ₹432. Intraday high: ₹604, low: ₹544.3, close: ₹553.3. Investors who got allotment pocketed ~₹5,508 profit per lot (34 shares x ₹158 gain).
Post-listing, the stock rallied to a 52-week high of ₹855.80 in early 2025 but dipped amid market corrections. As of August 20, 2025, it's trading at ₹784 (down 0.19% today), up ~33% from listing and 44.43% YTD.
Current Stock Analysis: Price, Valuation & Performance in 2025
As of Aug 20, 2025:
- Share Price: ₹784 (NSE close; range today: ₹787-₹810)
- Market Cap: ₹10,558 Cr
- 52-Week Range: ₹394.55-₹855.80
- P/E Ratio: 27.9 (industry avg ~25, slightly premium)
- EPS (TTM): ₹28.66
- ROE/ROCE: 21.6%/30.6% (strong efficiency)
- Dividend Yield: 0% (reinvesting profits)
2025 Performance: Up 44% YTD, outperforming Sensex (+4.49%). Recent wins: ₹1,200 Cr orders in Aug 2025 boosted sentiment, but volatility from raw material costs persists.
Financial Highlights (Consolidated, FY24-FY25 & Q1 FY26)
Revenue grew 30% YoY in FY25 to ₹5,308 Cr, profits up 63% to ₹381 Cr. Q1 FY26 (Jun 2025): Revenue ₹1,660 Cr (+81% YoY), PAT ₹106 Cr (+104% YoY).
| Metric | FY23 | FY24 | FY25 | Q1 FY26 (Jun 2025) |
|---|---|---|---|---|
| Revenue (₹ Cr) | 3,152 | 4,077 | 5,308 | 1,660 |
| PAT (₹ Cr) | 108 | 233 | 381 | 106 |
| EPS (₹) | 8.04 | 17.37 | 28.66 | 7.88 |
| ROE (%) | 14.0 | 20.5 | 21.6 | - |
Peer Comparison: Vs. KEC International (P/E 55) or Kalpataru (P/E 40), Transrail looks undervalued at 28x.
Pros, Cons & Risks: Is Transrail Lighting a Buy in 2025?
Pros:
- Strong growth: 27% CAGR in revenue (FY20-25); global presence in 58 countries.
- Govt tailwinds: 70% revenue from tenders aligns with India's ₹3.3 lakh Cr power budget.
- Healthy margins: OPM steady at 12-14%; debt manageable (D/E ~0.8).
- Order book: ₹10,000+ Cr as of Jun 2025, ensuring visibility.
Cons & Risks:
- Govt dependency: Delays in tenders could hit revenue (e.g., past overruns).
- Commodity risks: Steel/metal price hikes squeezed margins in Q3 FY25.
- No dividends: Focus on expansion might disappoint income seekers.
- Valuation: Overvalued per some models (intrinsic value ~₹650 vs. current ₹784).
- Market risks: Infra sector sensitive to interest rates; CRISIL A+/Stable rating but watch for downgrades.
Analyst Verdict: "Subscribe for long-term" was the IPO call; now, hold/buy on dips below ₹750. Target: ₹900 by Dec 2025 if orders execute well.
How to Invest in Transrail Lighting Shares Today
Open a demat account (e.g., Zerodha, Upstox), search TRANSRAILL on NSE/BSE, and buy via your broker. Track via Screener or Moneycontrol for live charts.
Final Thoughts: Better Than GMP Hype?
Transrail's IPO GMP nailed the 37% listing pop, but real value lies in its fundamentals—solid growth in a booming sector. At ₹784 (Aug 2025), it's a moderate buy for infra bulls, but diversify due to risks. Always DYOR and consult advisors. Got questions? Comment below!
Disclaimer: Not financial advice. Markets are volatile.
FAQs on Transrail Lighting Limited IPO GMP & Stock
- What was the final GMP for Transrail Lighting IPO? Around ₹165-192, leading to 38-44% expected gains.
- What is Transrail Lighting share price today (Aug 20, 2025)? ₹784.
- Is Transrail Lighting a good investment in 2025? Yes for long-term, given growth, but watch risks.
- Where to check allotment status? KFin or BSE website (historical now).