Raksan Transformers (SME IPO)
📅 Dates: 10-15 September • 💰 Issue Size: ₹150.50 Cr.Complete guide to Raksan Transformers SME IPO: latest Grey Market Premium (GMP), live bidding subscription status, price band, lot size, financial report, and investment analysis.
📊 Overview & Key Highlights
| Parameter | Details |
|---|---|
| Issue Type | SME IPO (BSE SME) |
| Issue Dates | 10-15 September |
| Price Band | ₹258 to ₹273 |
| Total Issue Size | ₹150.50 Cr. |
| Minimum Market Lot | 800 shares (Min. Inv: ₹2,18,400) |
| Investor Demand Rating | ⭐⭐⭐⭐⭐ (5/5 - Blockbuster Demand) |
| Listing Price (Debut) | ₹278.00 (+₹3.40 (+1.24%) 🚀) |
| Subscription Status | 47.43x (Final / Bidding Closed) |
📅 Tentative Timetable
| IPO Open Date: | September 10, 2026 |
| IPO Close Date: | September 15, 2026 |
| Basis of Allotment: | September 16 2026 |
| Refunds: | September 17, 2026 |
| Credit to Demat Account: | September 17, 2026 |
| IPO Listing Date: | September 18, 2026 |
📈 Live Subscription Demand
| Category | Subscription Multiplier (x) |
|---|---|
| Qualified Institutional (QIB) | 70.51x |
| Non-Institutional / HNI | 60.46x |
| Retail Individual (RII) | 28.66x |
| Total Subscription | 47.43x (Updated: 07 Oct, 17:58) |
💼 Market Lot & Investment Sizing
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 800 | ₹2,18,400 |
| Retail Maximum | 2 | 800 | ₹2,18,400 |
| S-HNI Minimum | 3 | 1200 | ₹3,27,600 |
| S-HNI Maximum | 9 | 3600 | ₹9,82,800 |
| B-HNI Minimum | 10 | 4000 | ₹10,92,000 |
💰 Financial Summary
| Period Ended | Revenue | Expense | PAT | Assets |
| 2024 | ₹162.52 | ₹152.12 | ₹7.59 | ₹67.02 |
| 2025 | ₹324.78 | ₹297.03 | ₹20.38 | ₹117.90 |
| 2026 | ₹363.63 | ₹318.44 | ₹33.60 | ₹155.59 |
🎯 Investment Analysis & Verdict
📌 Business Model & Revenue Streams
Raksan Transformers manufactures a diverse range of power, distribution, solar, and special-purpose transformers for power generation, transmission, and distribution networks. The company earns its revenue by supplying these engineered-to-order electrical solutions to government entities, state utilities, public sector undertakings, and EPC contractors.🚀 Key Strengths & Growth Drivers
• Established Track Record: Operating since 1995 with backward integration from repair services to full-scale manufacturing across two facilities in Haryana.• Diversified Product Portfolio: Caters to high-demand segments including renewable energy (solar applications) and traditional power grids.
• Capacity Expansion: The IPO proceeds will fund a major new manufacturing facility in Sonepat, directly boosting production scale to capture rising power sector capex.
⚠️ Key Risks & Red Flags
• SME Liquidity: With a lot size of 800 shares (minimum investment ~₹2.18L at the upper band), this is an SME IPO carrying inherently lower liquidity and higher volatility than mainboard issues.• Working Capital Intensive: A significant chunk of capital (~₹39 crore) is earmarked for working capital, indicating heavy reliance on receivables in the power/government infrastructure space.
• Client and Sector Concentration: Heavy dependence on government bodies, PSUs, and utility companies exposes the company to delayed payment cycles and shifting public sector outlays.
🎯 Retail Verdict
Raksan is a solid play on India’s booming power infrastructure and renewable energy push, but the heavy working capital needs and SME structure mean it is only suitable for aggressive investors with a high-risk appetite. Watch out for oversubscription numbers closer to the close date before diving in.🏢 About Raksan Transformers | Dates: 10-15 September | Price: ₹258 to ₹273 | Lot: 800
Raksan Transformers, founded in July 1995, manufactures transformers with different voltage capacities. The firm makes a wide range of transformers, such as distribution transformers, power transformers, transformers for solar applications, and special-purpose transformers used in power generation, transmission, and distribution networks.Raksan started its business as a repair and servicing transformers, and later started making transformers from scratch and expanded its business with 2 manufacturing facilities in Rai, Sonepat, Haryana. Its products serve a wide range of customers, including government entities, power distribution corporations, public sector undertakings, utility companies, and EPC contractors. The company operates 2 manufacturing facilities equipped with machinery for core cutting, coil winding, assembly, tank fabrication, oil filtration, welding, and testing.
🎯 Objects of the Issue
• Funding capital expenditure towards setting up of manufacturing facility at Liwaspur, Sub- Tehsil Rai, Distt. Sonepat, Haryana: ₹71.91 Cr• To meet working capital requirements: ₹39.00 Cr
• Repayment of certain borrowing availed by the Company, in part or full: ₹7.91 Cr
• General Corporate Purpose
📬 Registrar & Allotment Information
Bigshare Services Pvt.Ltd. Phone: 8657578989/8069219065/8069219060 Email: [email protected] Website: Big Share Online💬 Community Discussion & Views
Are you planning to apply for the Raksan Transformers IPO? Share your bidding strategy, allotment status, or listing expectations with fellow investors below!👉 Browse all upcoming Mainboard & SME IPOs on UNP
Disclaimer: All IPO details provided above are for educational and informational purposes only. Readers are advised to consult their financial advisors and review the Red Herring Prospectus (RHP) before investing.
📌 Thread Quick Navigation: Post #2: Live & Historic GMP | Post #3: Subscription Stats | Post #4: Allotment Status | Post #5: Listing Debut | Post #6: Community & Social Reviews
Last edited: