Schedule of Trom Industries
| Issue open date | 25 Jul 2024 |
| Issue close date | 29 Jul 2024 |
| UPI mandate deadline | 29 Jul 2024 (5 PM) |
| Allotment finalization | 30 Jul 2024 |
| Refund initiation | 31 Jul 2024 |
| Share credit | 31 Jul 2024 |
| Listing date | 01 Aug 2024 |
| Mandate end date | 13 Aug 2024 |
| Lock-in end date for anchor investors (50%) | 29 Aug 2024 |
| Lock-in end date for anchor investors (remaining) | 29 Oct 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Trom Industries
Incorporated in 2011, Trom Industries Limited is a Solar EPC (Engineering, Procurement, and Construction) company engaged in the comprehensive development of diverse solar projects specializing in residential solar rooftops, industrial solar power plants, ground-mounted solar power plants, and solar street lights. For residential rooftop installations, the company designs and implements solar systems tailored to individual homes. The company scales up its operations in the industrial sector to design and construct larger solar power plants catering to industrial needs. It is an ISO 9001: 2015, ISO 45001: 2018, and ISO 27001: 2018 certified company and is also actively engaged in the development of green hydrogen projects as a pivotal aspect of future business endeavours. The company’s product mix comprises the following:
- Solar products: solar grid-tied rooftop system, solar street light, solar deep freezer, off-grid solar system, solar home light, solar water purifier, and solar water pumps
- AC LED lights: AC LED street lights and AC LED flood lights
- Installation services
- Footwear supply
- Trading activities: solar module, solar Inverter, other trading.
Financials of Trom Industries
Issue size
| Funds raised in the IPO | Amount |
| Overall | ₹31.37 crores |
| Fresh issue | ₹31.37 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure requirements | 4.5 (14.35%) |
| Working Capital requirements | 16.53 (52.7%) |
| General corporate purpose | 13.73 (29.91%) |
*All figures except EPS are in ₹ crores
Strengths
- Wide range of products: With nearly 13 product and service offerings, The company offers a diverse set of products and services catering to the needs of both residential and industrial sector clients.
- Experienced management team with industry expertise: The promoters Jignesh Patel and Pankaj Pawar have an experience of 16 years in the field of solar energy. The company believes that the experience of the management team and their knowledge and resources will enable them to drive the business successfully and profitably.
Risks
- Potential Government Policies on Solar Power Business: Currently, the government provides subsidies for solar power plants and solar water pumps/products to a specific group of end users. If in the future, the state or central government initiates a policy whereby solar water pumps are assembled and provided to customers at rates lower than the company, It will be unable to compete in such a circumstance and that would likely impact the business, operational results, and financial condition.
- Geographical concentration: The company generates nearly 98% of its revenues from the state of Gujarat. Any adverse development affecting the operations in this region could have an adverse impact on the business, financial condition, and results of operations.
- Reliance on top clients: The company derives nearly 50% portion of its revenue from its top five customers. Any reduction in business from these top five customers or any other major clients could have negative implications for both revenue and profitability.
Note:
- The above schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion.
- The allotment status will be available by July 31, 2024, on the registrar’s website and the NSE website.