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Raksan Transformers Ltd

Raksan Transformers Ltd

BSE SME · SME IPO
Listed BSE SME SME Live Chart
Issue Price
₹273
₹273
GMP (Grey Market)
+₹25
+9.16%
Est. Listing Price
₹298
Based on GMP
Min. Investment
₹109,200
1 lot × 400 shares
Subscribed
33.55x
Over-subscribed
IPO Details
Open Date
10 Sep 2026
Close Date
15 Sep 2026
Allotment
16 Sep 2026
Listing Date
18 Sep 2026
Exchange
BSE SME
Price Band
₹273
Listing Price
See chart
Allotment Status
Price Band
₹273
Per share
Face Value
₹10 per share
 
Lot Size
400 Shares
per lot
Issue Size
55,12,800 shares (agg. up to ₹150 Cr)
Total offering
Issue Type
Bookbuilding IPO
 
Min Investment
₹109,200
1 lot
Pre-IPO Holding
1,64,80,600 shares
Promoters
Post-IPO Holding
2,08,93,400 shares
Promoters
P/E (Pre)
13.39x
 
P/E (Post)
16.98x
 
EPS (Pre)
₹20.39
 
EPS (Post)
₹16.08
 
UPI Deadline
5:00 PM on 15 Sep 2026
Mandate
GMP
+₹25
+9.16% est.
Anchor AllotmentWed, 09 Sep 2026
Basis of AllotmentWed, 16 Sep 2026
Refund InitiationThu, 17 Sep 2026
Demat CreditThu, 17 Sep 2026
Listing DayFri, 18 Sep 2026
UPI Mandate Deadline5:00 PM on 15 Sep 2026
Sale TypeFresh capital cum OFS
Net Offer to Public52,36,800 shares (agg. up to ₹143 Cr)
Market Maker Quota2,76,000 shares (agg. up to ₹8 Cr)
Fresh Issue Shares41,36,800 shares (agg. up to ₹113 Cr)
Offer for Sale11,00,000 shares of ₹10 (agg. up to ₹30 Cr)
QIB Quota50% of Net Issue
HNI / NII Quota15% of Net Issue
Retail Quota35% of Net Issue
Check AllotmentClick here →
Subscription Rate Final
Raksan Transformers Ltd IPO subscribed 33.55 times overall. Retail: 28.47x. QIB: 29.01x. NII: 60.53x. By 15 Sep 2026.
QIB
29.01x
Over
NII/HNI
60.53x
Over
Retail
28.47x
Over
Total
33.55x
Over
Category Subscription Shares Offered % of Total Amount (₹Cr)
Market Maker
Awaited
276,000
— ₹7.53
QIB
Over 29.01x
2,617,200
— ₹71.45
NII / HNI
Over 60.53x
786,000
— ₹21.46
Retail
Over 28.47x
1,833,600
— ₹50.06
Total 33.55x
5,236,800
100% ₹142.96
IPO Shares Offered
Raksan Transformers Ltd IPO total issue size: ₹142.96 Cr. Retail: ₹50.06 Cr. QIB: ₹71.45 Cr. NII: ₹21.46 Cr.
CategoryShares OfferedAmount (₹Cr)Size (%)
QIB 2,617,200 ₹71.45
49.98%
Market Maker 276,000 ₹7.53
5.27%
NII 786,000 ₹21.46
15.01%
Retail 1,833,600 ₹50.06
35.01%
Total 5,236,800 ₹142.96
100.00%
* Based on upper price band ₹273 per share
Basis of Allotment
QIB NII Retail Total
Ex. Anchor Anchor Total QIB Below ₹10L Above ₹10L Total NII
Allocation (shares) — — — — — 786,000 1,833,600 2,619,600
Allotment price (₹) 273 273 273 273 273 273 273 273
No. of applications — — — — — — — —
No. of shares applied — — — — — — — —
Amount collected (₹Cr) — — — — — — ₹50.06 ₹50.06
Times subscribed 29.01x — — — — 60.53x 28.47x 33.55x
Shares allotted — — — — — 786,000 1,833,600 2,619,600
No. of allottees — — — — — — — —
* Upper price band ₹273 · ** Anchor allotment excluded from public shares
Lot Size & Investment
Lot Size
400
Shares per Lot
Issue Price
₹273.00
Upper Band
Min Investment
₹109,200
1 Lot
ApplicationLotsSharesAmount
Retail (Min — 2 Lots)2800₹218,400
Retail (Max — 13 Lots)135,200₹1,419,600
S-HNI (Min — 14 Lots)145,600₹1,528,800
B-HNI (Min — 68 Lots)6827,200₹7,425,600
* Issue Price ₹273 × Lot Size 400 shares
IPO Schedule
Anchor
09 Sep 2026
✓ Done
IPO Open
10 Sep 2026
✓ Done
IPO Close
15 Sep 2026
✓ Done
Allotment
16 Sep 2026
✓ Done
Refunds
17 Sep 2026
✓ Done
Demat Credit
17 Sep 2026
✓ Done
Listing Day
18 Sep 2026
✓ Done
Raksan Transformers Ltd — Live Price LIVE
₹273.00
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Issue ₹273.00 GMP: +₹25 Live Price
About Raksan Transformers Ltd
Incorporated in July 1995, Raksan Transformers Limited is an ISO 9001:2015 certified manufacturer of transformers across different voltage ratings. The Company manufactures a diversified range of transformers, including distribution transformers, power transformers, transformers for solar applications and special purpose transformers, which are used across power generation, transmission and distribution networks, as well as various industrial and infrastructure projects. The Company initially focused on the repair and servicing of distribution and power transformers and subsequently commenced transformer manufacturing in 2005-06. It has since expanded its operations to two manufacturing facilities in Rai, Sonepat, Haryana.As of March 31, 2026, the Company operates through two manufacturing units spread across approximately 2,025 sq. mtrs. and 1,012.5 sq. mtrs., with a combined installed production capacity of approximately 15,00,000 KVA for distribution transformers and 1,350 MVA for power transformers. The facilities are equipped with machinery for core cutting, coil winding, assembly, tank fabrication, oil filtration, welding and testing. The Company also has in-house facilities for core cutting/slitting, wire or strip drawing and tank fabrication, along with an in-house testing laboratory for conducting routine and type tests.Raksan Transformers serves a diverse customer base comprising government entities, power distribution corporations, public sector undertakings, utility companies, EPC contractors and industrial clients. The Company is an approved vendor for more than 20 entities, including power distribution corporations, PSUs and public utility companies. Its manufacturing process incorporates quality control measures at various stages and uses key raw materials such as CRGO steel, copper and aluminium conductors, transformer oil, insulating materials and fabricated transformer tanks. Its group company, SHR Powers Private Limited, manufactures transformer tanks/bodies, supporting the Company's backward integration and supply chain efficiency.The Company's products are manufactured in compliance with applicable Bureau of Indian Standards (BIS) requirements, and the Company is authorized to use the ISI mark on applicable products. Several products are also certified under the Bureau of Energy Efficiency (BEE) STAR rating programme. The Company focuses on designing transformers according to customer-specific requirements, including voltage, power, climatic conditions, system configuration and sound levels.As of June 30, 2026, the Company had 143 full-time employees, including 113 employees in production, along with personnel across designing and quality control, finance, purchase and stores, sales and marketing, and HR and administration.Competitive StrengthsStrong order book.Experienced promoters and management team.Focus on quality assurance and regulatory compliance.Established manufacturing facilities and in-house operations.Track record of profitability and consistent financial performance.Backward integration supporting supply chain and cost efficiencyEstablished relationships with government entities and power utilities. 
Objects of the Issue
1
Funding capital expenditure towards setting up of manufacturing facility at Liwaspur, Sub-Tehsil Rai, Distt. Sonepat, Haryana
2
To meet working capital requirements
3
Repayment of certain borrowing availed by the Company, in part or full
4
General Corporate Purposes
Raksan Transformers Ltd Financials (Amount in Crore)
Revenue from Operations
₹162.5
31 Mar 2024
₹324.8
31 Mar 2025
₹363.6
31 Mar 2026
Profit After Tax (PAT)
₹7.6
31 Mar 2024
₹20.4
31 Mar 2025
₹33.6
31 Mar 2026
Particulars31 Mar 202631 Mar 202531 Mar 2024
Revenue from Operations 363.63 324.78 162.52
EBITDA 46.72 29.51 10.19
Profit After Tax (PAT) 33.60 20.38 7.59
Net Worth 77.42 44.07 23.70
Total Assets 155.59 117.90 67.02
Reserves & Surplus 60.94 43.20 22.83
Borrowings 20.74 23.51 9.81
EBITDA Margin (%) 12.87 — —
PAT Margin (%) 9.25 — —
P/BV Ratio
18.98
RoE
55.32
RoCE
46.72
RoNW
43.41
PAT Margin
9.25
EBITDA Margin
12.87
Debt/Equity
0.27
Issue Structure & Shareholding
Total Shares Offered1,25,86,800
Net Offer to Public52,36,800 shares (agg. up to ₹143 Cr)
Reserved for Market Maker2,76,000 shares (agg. up to ₹8 Cr)
Pre-Issue Promoter Holding1,64,80,600 shares
Post-Issue Promoter Holding2,08,93,400 shares
P/BV Ratio18.98
RoE55.32
RoCE46.72
Debt / Equity0.27
Script CodeN/A
Registrar & Lead Managers
Book Running Lead Managers
Hem Securities Ltd
GMP Disclaimer: Grey Market Premium data is unofficial and unregulated. It does not guarantee actual listing price.
IPO Subscription FAQs
How much Raksan Transformers Ltd IPO subscribed? ▲

Raksan Transformers Ltd IPO is subscribed 33.55 times by Sep 15, 2026. Retail: 28.47x. QIB: 29.01x. NII: 60.53x.

Investor CategorySubscription
Qualified Institutional (QIB)29.01x
Non Institutional (NII/HNI)60.53x
Retail Individual28.47x
Total Subscription33.55x
What is Raksan Transformers Ltd IPO retail subscription status? ▼

The Raksan Transformers Ltd IPO retail category is subscribed 28.47 times as of 15 Sep 2026. The retail portion is oversubscribed.

How to subscribe Raksan Transformers Ltd IPO? ▼

Subscribe via your broker app using ASBA or UPI. Opens 10 Sep 2026 and closes 15 Sep 2026. Min investment: ₹109,200 (1 lot = 400 shares). UPI mandate: 5:00 PM on 15 Sep 2026.

How many times Raksan Transformers Ltd IPO subscribed? ▼

The Raksan Transformers Ltd IPO subscribed 33.55x overall. QIB: 29.01x, NII: 60.53x, Retail: 28.47x. Applications: from NSE/BSE.

How to check Raksan Transformers Ltd IPO allotment? ▼

Check allotment on the registrar website (Bigshare Services Pvt.Ltd) at https://ipo.bigshareonline.com/IPO_Status.html. Enter your PAN, application number or DP/Client ID. Allotment date: 16 Sep 2026. Refunds: on 17 Sep 2026.

When Raksan Transformers Ltd IPO will be listed? ▼

The Raksan Transformers Ltd IPO listing date is 18 Sep 2026, Friday. Listed on: BSE SME. Issue price: ₹273. Estimated listing: ₹298. GMP: +₹25.

When Raksan Transformers Ltd IPO close? ▼

The Raksan Transformers Ltd IPO closes on 15 Sep 2026, Tuesday. UPI mandate: 5:00 PM on 15 Sep 2026. Allotment: 16 Sep 2026. Listing: 18 Sep 2026.