TMC Transformers plans ₹550 cr IPO for 78,000 MVA plant
TMC Transformers (India) Ltd just announced plans to raise ₹550 crore through an IPO, with the proceeds to be used partly for building a brand-new extra-high-voltage transformer facility in Halol, Gujarat, partly to part-fund the company's incremental working capital requirements, and for general corporate purposes.
This plant will have a big capacity, 78,000 MVA, to help meet India's rising need for advanced transformers.
TMC Transformers serves rail renewables metros
TMC makes all kinds of transformers used in railways, renewable energy projects, and metros. The IPO cash will also support its day-to-day operations and future growth.
There's talk of a possible pre-IPO placement worth up to ₹110 crore, which could shrink the final IPO size.
Anand Rathi Advisors and Intensive Fiscal Services are managing the issue.