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The conglomerate recently gave Kotak Investment Banking officials the go-ahead to commence the process after a meeting, they said. It plans to appoint additional bankers by January, they added.
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The stock listed on the NSE surged 150% in 2024 so far as against the 23.6% advance in the Nifty Midcap 100. In the past three years, it has spiralled 680%.
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The 839-crore Transrail Lighting issue, priced at 410-432 per share, received 80.8 times bids. The IPO consisted of a fresh equity issue worth 400 crore and OFS of 1.01 crore shares by promoter Ajanma Holdings.
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