Raksan Transformers Limited
Bookbuilding IPO · BSE
- Price band
- ₹258 - ₹273
- Lot size
- 400 shares
- Issue amount
- ₹150.49 cr
- Total subscription
- 47.5×
- Opens
- 10 Sept 2026
- Closes
- 15 Sept 2026
- Allotment
- 16 Sept 2026
- Listing
- 18 Sept 2026
Offer at a glance
Issue overview
- Issue size
- 55,12,800 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,03,200
- Fresh issue
- ₹120.46 cr
- Offer for sale
- ₹30.03 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,09,200
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,64,80,600
- Shares after issue
- 2,08,93,400
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 800 | ₹2,18,400 |
| sHNI | 3 | 1,200 | ₹3,27,600 |
| bHNI | 10 | 4,000 | ₹10,92,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 15 Sept 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 94 |
| NIB | 0 | 17,055 |
| RETAIL | 2,292 | 65,683 |
| EMPLOYEES | 0 | 0 |
| HNIs(10L +) | 437 | 9,355 |
| HNIs (2-10L) | 218 | 7,700 |
| Shareholder | 0 | 0 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 28.59 | 2,015.79 |
| RETAIL | 50.06 | 1,434.52 |
| HNIs 2+ | 7.15 | 268.28 |
| HNIs 10+ | 14.31 | 1,029.01 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 20.39 | 12.36 | 4.61 |
| ROE | 55.32 | 60.14 | 38.14 |
| ROCE | 46.72 | 43.09 | 34 |
| RONW | 0 | 0 | 0 |
| PRE IPO(PE) | 13.38 | 0 | 0 |
| POST IPO(PE) | 16.98 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Raksan Transformers Limited | 13.38 | 13.38 | 10.00 | 0 | 43.41 | 20.39 |
| Marsons Limited | 49.63 | 133.50 | 1.00 | 0 | 21.28 | 2.69 |
| Shilchar Technologies Limited | 29.47 | 4074.85 | 10.00 | 0 | 32.22 | 138.25 |
| Supreme Power Equipment Limited | 27.75 | 226.2 | 10.00 | 0 | 17.49 | 8.18 |
Company information
Company profile
Incorporated in 1995, Raksan Transformers Ltd. specializes in the repair and servicing of distribution and power transformers. As of March 31, 2025, it operates two manufacturing units in Rai, District Sonepat, Haryana, with areas of approximately 2,025 sq. m and 1,012.5 sq. m. The company’s product range includes distribution transformers, power transformers, transformers for solar applications, and special purpose transformers.
Strengths
- Established Manufacturing Facilities: The company operates two manufacturing units in Sonipat, Haryana, with integrated in-house operations that support efficient production and better operational control.
- Strong Quality Standards: The company follows strict quality checks and has ISO 9001:2015 certification, BIS approval for transformers up to 2500 kVA, and BEE Level 2/3 energy efficiency certification.
- Experienced Leadership: Led by Mr. Sanjeev Kanda, who has over 30 years of experience in the transformer industry, supported by a skilled management team with expertise in manufacturing, finance and regulatory compliance.
Risk factors
- Dependence on Government Tenders: A significant share of revenue comes from government and public sector tenders. Failure to secure new contracts could affect revenue and future business growth.
- Execution & Delivery Risk: Delays in manufacturing, supply chains or third-party execution could result in order cancellations, penalties or additional costs.
- High Working Capital Requirement: Transformer manufacturing requires significant funds for raw materials, inventory and project execution. Any shortage of working capital could affect operations and business growth.
Promoters
Sanjeev Kanda
Dievam Singh Kanda
Renu Kanda
Registrar & documents
Lead manager
Hem Securities Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Shop No. 16, Local Shopping Centre-3, Sector-8, Rohini, North Delhi, New Delhi, New Delhi, 110085
+91 8199946578
[email protected]Company website ↗Understanding RAKSAN IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.