Transformers and Rectifiers (India) will list on exchanges on Friday, 28 December 2007. It will be placed in the B1 group on BSE. The company had fixed the issue price at the top end of the Rs 425-465 price band. At the IPO price of Rs 465, the PE multiple works out to 31.20, based on the year ended March 2007 EPS of Rs 14.90.
The Transformers and Rectifiers (India) IPO had ended on 12 December 2007. Issue was subscribed 91.31 times. The issue got bids for 27.35 crore shares against 29.95 lakh shares on offer.
The qualified institutional buyers (QIBs) portion was subscribed 110.52 times, the non institutional investors' category was subcribed 121.69 times and the retail portion was subscribed 58.61 times.
The initial public offering has been graded CARE IPO grade 4 by Credit Analysis & Research, indicating above average fundamentals.
The company 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.
The company reported a profit after tax of Rs 18.07 crore on sales of Rs 126.32 crore in the year ended March 2007.
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