RT
Raksan Transformers Limited IPO
Power & Distribution Transformers · Solar Applications · Heavy Electrical Equipment · Haryana
📋 BSE SME IPO
Fresh + OFS
BSE SME
₹273
Upper Price
₹150.50 Cr
Issue Size
Sep 18, 2026
Listing Date
₹449.92 Cr
Market Cap (Pre)
📅 IPO Timetable
All dates tentative🟢
IPO Opens
Thursday, 10 September 2026
Bidding starts — apply before close
🔒
IPO Closes
Tuesday, 15 September 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Wednesday, 16 September 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Thursday, 17 September 2026
Unallotted funds returned; shares credited to demat
🏷️
Friday, 18 September 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date10 September 2026 (Thu)
IPO Close Date15 September 2026 (Tue)
Listing Date18 September 2026 (Fri)
Face Value₹10 per share
Price Band₹258 to ₹273
Issue Price (Upper Band)₹273 per share
Issue TypeBook Build — Fresh + OFS
Lot Size400 shares (Min Application: 2 Lots / 800 Shares)
Total Issue Size55,12,800 shares (₹150.50 Cr)
Fresh Issue44,12,800 shares (₹120.47 Cr)
Offer for Sale (OFS)11,00,000 shares (₹30.03 Cr)
Market Maker Portion2,76,000 shares (₹7.54 Cr)
Pre-Issue Shares1,64,80,600
Post-Issue Shares2,08,93,400
Promoter Holding (Pre)100.00%
Listing ExchangeBSE SME
Lead ManagerHem Securities Ltd.
RegistrarBigshare Services Pvt.Ltd.
💰 Lot Size & Minimum Investment
At upper price ₹273| Investor Type | Lots | Shares | Amount |
|---|---|---|---|
| Individual (Retail) — Min | 2 | 800 | ₹2,18,400 |
| Individual (Retail) — Max | 2 | 800 | ₹2,18,400 |
| S-HNI (sNII) — Min | 3 | 1,200 | ₹3,27,600 |
| S-HNI (sNII) — Max | 9 | 3,600 | ₹9,82,800 |
| B-HNI (bNII) — Min | 10 | 4,000 | ₹10,92,000 |
⚠️ Note: Investors can bid for a minimum of 800 shares (2 lots) and in multiples of 400 shares thereafter. Market Maker reservation comprises 2,76,000 shares allotted to Hem Finlease Pvt. Ltd.
👥 Investor Reservation
Allocated portion of Net Offer21.26% (26.17 L Sh)
QIB Portion
63.85% (78.60 L Sh)
NII Portion
14.89% (18.34 L Sh)
Retail Portion
📊 Subscription Status
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📈 Company Financials
Restated Consolidated · ₹ Crore| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 155.59 | 117.90 | 67.02 |
| Total Income | 363.63 | 324.78 | 162.52 |
| PAT | 33.60 | 20.38 | 7.59 |
| EBITDA | 46.72 | 29.51 | 10.19 |
| Net Worth | 77.42 | 44.07 | 23.70 |
| Reserves & Surplus | 60.94 | 43.20 | 22.83 |
| Total Borrowing | 20.74 | 23.51 | 9.81 |
Income Growth
FY 2023–24₹162.52 Cr
FY 2024–25₹324.78 Cr
FY 2025–26₹363.63 Cr
🎯 Key Performance Indicators
55.32%
ROE
FY 2025–26
0.27
Debt/Equity
FY 2025–26
46.72%
ROCE
FY 2025–26
9.25%
PAT Margin
FY 2025–26
12.87%
EBITDA Margin
FY 2025–26
43.41%
RoNW
FY 2025–26
18.98x
Price/Book
FY 2025–26
14.38
NAV
FY 2025–26
⚖️ Valuation & EPS
Pre-IPO EPS
₹20.39
FY26 earnings + pre-issue shares
P/E: 13.39xPost-IPO EPS
₹16.08
FY26 earnings + post-issue shares
P/E: 16.98xPrice to Book Value
18.98x
At upper price band ₹273
Market Cap (Pre-IPO)
₹449.92 Cr
At issue price ₹273
ℹ️
Pre-IPO EPS (₹20.39) based on pre-issue shares (1,64,80,600) and FY26 restated PAT (₹33.60 Cr). Post-IPO EPS (₹16.08) accounts for the dilution resulting from the issuance of 44,12,800 fresh equity shares extending the total post-issue equity to 2,08,93,400 shares. Post-IPO Market Cap expands to ₹570.39 Cr at the upper price band of ₹273.
🎯 Objects of the Issue
Net proceeds utilisation1
Funding capital expenditure towards setting up of manufacturing facility at Liwaspur, Sub-Tehsil Rai, Distt. Sonepat, Haryana
₹62.14 Cr
2
To meet working capital requirements
₹35.00 Cr
3
Repayment of certain borrowing availed by the Company, in part or full
₹7.28 Cr
4
General Corporate Purposes
Balance
Total Fresh Issue Goal
₹120.47 Cr
🏢 About Raksan Transformers Ltd.
Est. 1995 · Sonepat, Haryana · Heavy Electrical EquipmentRaksan Transformers Limited, incorporated in July 1995, is an ISO 9001:2015 certified manufacturer of high-reliability transformers spanning a comprehensive spectrum of voltage ratings. Transitioning from specialized repairs into full-scale manufacturing in 2005-06, the company delivers engineering solutions catering to power generation, grid transmission, distribution networks, solar energy projects, and heavy industrial applications.
The business operates two specialized manufacturing hubs in Rai, Sonepat (Haryana) with an aggregate installed capacity of 15,00,000 KVA for distribution transformers and 1,350 MVA for power transformers. Integrated capabilities include automated core cutting, slitting, wire drawing, in-house tank fabrication via its group company SHR Powers Pvt. Ltd., and state-of-the-art routine and type-test testing laboratories. Certified under BIS (ISI mark) and BEE STAR rating schemes, Raksan serves as an approved vendor to over 20 government entities, power corporations, and EPC contractors, backed by 143 full-time employees.
Brand Ecosystem
⚡
Power & Distribution Units
Transformers up to 1,350 MVA capacity serving state utilities, DISCOMs, and heavy industry
☀️
Renewable & Solar Solutions
Tailored step-up and inverter duty transformers engineered specifically for solar power parks
⚙️
In-House Manufacturing Hubs
Dual units in Sonepat handling core slitting, coil winding, tank fabrication, and automated testing
🏛️
Approved Vendor Status
Approved supplier to 20+ government entities, power distribution corporations, and EPC giants
Competitive Strengths
🏆Over three decades of specialized domain experience with a robust, high-visibility institutional order book
⚙️Backward integration across transformer tanks and components enhancing margins and supply chain control
🎖️Stringent regulatory compliance with BIS ISI-mark authorisations and Bureau of Energy Efficiency (BEE) star ratings
📈Exceptional return metrics delivering a 55.32% ROE and 65% PAT expansion to ₹33.60 Cr in FY26
Company Promoters
SK
Sanjeev Kanda & Renu Kanda
Promoters, Raksan Transformers Ltd.
DK
Dievam Singh Kanda
Promoter, Raksan Transformers Ltd.
📅 Key Dates
IPO Opens10 Sep 2026
IPO Closes15 Sep 2026
Allotment16 Sep 2026
Refund & Share Credit17 Sep 2026
Listing Day18 Sep 2026
💡 Quick Summary
Price Band₹258 – ₹273
Upper Price₹273 / share
Lot Size400 shares
Min. Investment (Retail)₹2,18,400 (2 Lots)
Issue Size₹150.50 Cr
ListingBSE SME
🏦 Registrar & Lead Manager
Lead Manager
Hem Securities Ltd.
📍 Registered Address
Raksan Transformers Ltd.
Shop No. 16, Local Shopping Centre-3,
Sector-8, Rohini, North Delhi,
New Delhi — 110085
📞 +91 8199946578
[email protected]
Shop No. 16, Local Shopping Centre-3,
Sector-8, Rohini, North Delhi,
New Delhi — 110085
📞 +91 8199946578
[email protected]
🛡️ Regulatory Note: SME IPO investments are subject to SEBI regulations and higher lot size restrictions. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
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Disclaimer: This page presents publicly available information from the Raksan Transformers IPO RHP for informational purposes only. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
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