Transformers & Rectifiers (India) Ltd. aims to raise ₹500 crore via share sale at ₹699.95 per share, a 4.5% discount. The sale will dilute 5.2% equity, funding capital expenditure, debt repayment, and general corporate purposes.
Transformers & Rectifiers (India) Ltd. is launching a share sale to institutional investors to raise up to ₹500 crore. Nuvama Wealth Management Ltd, previously known as Edelweiss Securities Ltd, is the book-running lead manager for the share sale.
The company announced a floor price of ₹699.95 per share in its stock exchange filing. This price represents a 4.5% discount on the closing price on Monday. The share sale is expected to result in an equity dilution of 5.2%.
The funds raised from this share sale will be utilised for various purposes including:
Capital Expenditure: Investments in expanding and upgrading the company's infrastructure and operations.
Debt Repayment: Reducing the company's existing borrowings to improve financial health.
Working Capital: Ensuring the company has adequate resources for daily operational needs.
Inorganic Growth: Funding potential acquisitions and mergers to expand the company’s market presence.
General Corporate Purpose: Supporting other unspecified corporate needs.
After the share sale, the selling shareholder will be subject to a lock-up period of 60 days, during which they are restricted from further selling of shares, with certain exceptions.
According to the shareholding pattern from the March quarter, promoter group entities hold a 69.65% stake in Transformers & Rectifiers (India) Ltd.
This strategic move is aimed to strengthen the company's financial position and support its growth objectives.
Share this article:
Share Market Today | Gifty Nifty Positive, Asian Markets Rebound
26 Jul, 2024 | 5 Min. read
Upcoming Q1 Results Today | Cipla, Power Grid, Indigo, IndusInd Bank
26 Jul, 2024 | 2 Min. read
Commodities Market Today | Crude Rises on Eased Inflation Pressures
26 Jul, 2024 | 1 Min. read
Gold Rate Today | Gold Plummets 2.3%, Silver Down 4.7%
26 Jul, 2024 | 2 Min. read
S&P Upgrades Vedanta Resources from 'CCC+' to 'B' on Improved Liquidity
26 Jul, 2024 | 2 Min. read
Mankind Pharma Acquires Bharat Serums and Vaccines for ₹13,630 Crore
26 Jul, 2024 | 2 Min. read
Indus Towers to Consider Share Buyback Proposal on July 30, 2024
26 Jul, 2024 | 2 Min. read
RVNL Secures ₹191.53 Crore Contract for South Eastern Railway Project
25 Jul, 2024 | 2 Min. read
Commodities Market Today | Oil Eases on Prospects of Middle East Ceasefire
25 Jul, 2024 | 1 Min. read
Share Market Today | Gift Nifty Declines on Negative Global Cues
25 Jul, 2024 | 4 Min. read
Gold Rate Today | Gold Drops 0.4%, Silver Declines 0.8%
25 Jul, 2024 | 2 Min. read
Upcoming Q1 Results Today | Adani Green, DLF, Nestle, Mphasis
25 Jul, 2024 | 2 Min. read
Analysis to Become a Pro Investor
28 Dec, 2023 | 4 Min. read
Women In Real Estate Investing (Investree)
28 Dec, 2023 | 5 Min. read
How To Check Prudent Corporate Advisory IPO Allotment Status
27 Dec, 2023 | 3 Min. read
How To Boost Credit Score? – Steps to Improve Creditworthiness
27 Dec, 2023 | 4 Min. read
Advantages and Disadvantages of Opening Multiple Demat Accounts
26 Dec, 2023 | 4 Min. read
7th CPC LTC: Leave Travel Concession Rules for Central Government Employees
26 Dec, 2023 | 4 Min. read
7th Pay Commission: House Building Advance (HBA) Interest Rate FY 2023-24
26 Dec, 2023 | 5 Min. read
The Future of Trading: Exploring Bajaj Broking’s Demat Features
26 Dec, 2023 | 6 Min. read
7th Central Pay Commission Cpc Fitment Table
23 Dec, 2023 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading