Overview

• Shares opened at Rs 556 on the NSE and Rs 558 on the BSE versus the Rs 561 issue price, reflecting a small listing discount.
• Post‑listing trading was volatile, with an intraday high of Rs 565 and a low of Rs 541.65 on the NSE.
• The Rs 400 crore book‑built offer was subscribed 9.46 times overall, including 18.79x by NIIs, 10.54x by QIBs, and 4.84x by retail investors.
• The IPO consisted entirely of a fresh issue of about 71 lakh shares, following Rs 120 crore raised from anchor investors before the offer.
• The transformer and components maker operates five facilities in Rajasthan, provides EPC services for substations, and exports to markets including the Netherlands, the UAE, Oman, the US, Italy, and Nepal.