RAKSAN TRANSFORMERS LIMITED IPO — Subscription & GMP
- Price band
- ₹258 – ₹273
- Lot size
- 400
- Issue size
- ₹107.64 Cr
- Bidding
- 10 Sept 2026 → 15 Sept 2026
- Allotment
- —
- Listing
- 18 Sept 2026
Listing outcome
Official exchange pricesGMP was out by 13.2 percentage points against the buyer — it implied +13.19% and the issue listed 0.00%. Counted in our running GMP accuracy record.
Schedule
- 10 Sept 2026IPO open date
- 15 Sept 2026IPO close date
- 16 Sept 2026Allotment date†
- 16 Sept 2026Funds unblock or debit†
- 18 Sept 2026Tentative listing date
† Derived from the close date using the T+3 working-day timeline. The exchanges publish the open and close dates; the rest are indicative until confirmed, and exchange holidays are not accounted for.
Fundamentals
The business, its valuation and returnsRaksan Transformers Limited - Business Model Summary
Raksan Transformers Limited operates as a specialized manufacturer and supplier of electrical power, distribution, renewable energy, and custom-built special-purpose transformers used across electricity transmission and generation networks.
Core Segments & Manufacturing Model
1. Product Portfolio: - Standard & Heavy Units: Produces power transformers, distribution transformers, and compact substations (CSS). - Specialized Applications: Manufactures solar-application/inverter-duty transformers, furnace transformers, rectifier transformers, and isolation units designed for distinct industrial and utility requirements.
2. Operations & Supply Chain Integration: - Operates dedicated manufacturing plants equipped for comprehensive in-house processes, including core cutting, coil winding, tank fabrication, and rigorous electrical testing. - Utilizes backward integration synergies (such as sourcing structural tank bodies via group entities) to control input costs and production timelines.
Customer Base & Revenue Streams
- Client Mix: Supplies equipment to a diversified institutional clientele comprising state electricity distribution utilities (DISCOMs), public sector undertakings (PSUs), private industrial entities, and Engineering, Procurement, and Construction (EPC) contractors.
- Revenue Generation: Earns revenue through direct B2B institutional sales and competitive tender awards tied to national power infrastructure development, industrial expansion, and renewable energy grid integration.
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS | ₹20.39 | — |
| P/E ratio | 13.39× | — |
Promoter holding pre/post issue is in the offer document but we do not yet extract it. Left blank rather than estimated.
Read from the company’s offer document filed with SEBI. Figures are the latest reported financial year, as restated in that filing.
Figures are as reported and not independently audited, and are read 44 d ago.
Grey market premium
Unofficial · not from any exchangeSubscription status
Live from BSE · fetched 842 hr ago| Category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| 1Qualified Institutional Buyers (QIBs) | 10.47 L | 7.38 Cr | 70.51× |
| 1(a)Foreign Institutional Investors (FIIs) | — | 90.31 L | — |
| 1(b)Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | — | 85.80 L | — |
| 1(c)Mutual Funds | — | 4.94 L | — |
| 1(D)Others | — | 5.57 Cr | — |
| 2Non Institutional Investors | 10.62 L | 4.78 Cr | 45.01× |
| 2(a)Corporates | — | 10.52 L | — |
| 2(b)Individuals (Other than RIIs) | — | 4.57 Cr | — |
| 3Retail Individual Investors (RIIs) | 18.34 L | 5.25 Cr | 28.66× |
| 3(a)Cut Off | — | — | — |
| 3(b)Price Bids | — | 5.25 Cr | — |
| 4Employee Reserved | — | 0 | — |
| 4(a)Employee (Cut off) | — | — | — |
| 4(b)Employee (Price) | — | — | — |
| 5Reservation PortionShareholder | — | 0 | — |
| 5(a)RPS (Cut off) | — | — | — |
| 5(b)RPS (Price) | — | — | — |
| Total | 39.43 L | 17.42 Cr | 44.18× |
Source: NSE issue information · BSE public issue
Demand curve
Shares bid at each price point · BSE₹258 → ₹273 · peak 17.42 Cr shares bid
Allotment status
You will need your PAN, application number or DP/client ID. These links go to the registrar and exchanges directly — UpcomingIPO never asks for those details.
Issue details
- Price band
- ₹258 – ₹273
- Lot size
- 400 shares
- Min. bid quantity
- 800
- Face value
- ₹10.00
- Tick size
- ₹1.00
- Shares offered
- 39.43 L
- Issue size
- ₹107.64 Cr
- Max bid · QIB
- 36.67 L
- Max bid · NII
- 26.20 L
Timeline & process
- Bidding opens
- 10 Sept 2026
- Bidding closes
- 15 Sept 2026
- Allotment
- —
- Listing
- 18 Sept 2026
Intermediaries
- Registrar
- BIG SHARE SERVICES PRIVATE LIMITED
- Sponsor bank
- ICICI BANK
- Lead managers
- HEM SECURITIES LIMITED