BSE SME Raksan Transformers holds the line after flat listing

Raksan Transformers traded at Rs 271.05 on the BSE, a 0.71% discount to the issue price of Rs 273.

The scrip was listed at Rs 273, matching the initial public offer (IPO) price. The stock is currently down 0.71% over its listing price.

The counter hit a high of Rs 277 and a low of Rs 261.30. About 22.40 lakh shares of the company changed hands at the counter.

Raksan Transformers' IPO was subscribed 43.76 times. The issue opened for bidding on 10 September 2026 and it closed on 15 September 2026). The price band of the IPO was between Rs 258 ? 273 per share.

The IPO comprised a fresh issue of 28,42,800 equity shares and an offer for sale (OFS) of 11,00,000 equity shares. The promoter shareholding diluted to 74.32% post-issue from 94.22% pre-issue.

The company proposes to utilise the net proceeds from the issue towards funding capital expenditure for setting up a manufacturing facility at Liwaspur, Sub-Tehsil Rai, Sonepat, Haryana; meeting its working capital requirements; repayment, in full or in part, of certain borrowings availed by the company; and general corporate purposes.

Ahead of the IPO, Raksans Transformers on 9 September 2026, raised Rs 42.86 crore from anchor investors. The board allotted 15.70 lakh shares at Rs 273 each to 23 anchor investors.

Raksan Transformers is a manufacturer of distribution transformers, power transformers, solar-application transformers and special-purpose transformers. The company serves power generation, transmission and distribution networks, government entities, utilities, EPC contractors and industrial customers. The company had total 143 employees as on 31st March 2026.

The company recorded revenue from operations of Rs 363.11 crore and net profit of Rs 33.60 crore for the financial year ended 31 March 2026.

Powered by Capital Market - Live News