Raksan Transformers IPO
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Raksan Transformers IPO details
Schedule of Raksan Transformers
| Issue open date | 10 Sep 2026 |
| Issue close date | 15 Sep 2026 |
| UPI mandate deadline | 15 Sep 2026 (5 PM) |
| Allotment finalization | 16 Sep 2026 |
| Refund initiation | 17 Sep 2026 |
| Share credit | 17 Sep 2026 |
| Listing date | 18 Sep 2026 |
| Mandate end date | 30 Sep 2026 |
| Lock-in end date for anchor investors (50%) | 15 Oct 2026 |
| Lock-in end date for anchor investors (remaining) | 14 Dec 2026 |
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 Raksan Transformers
Raksan Transformers is a manufacturer of electrical transformers across various voltage ratings, serving the power generation, transmission, and distribution sectors. The company’s core product portfolio encompasses distribution transformers, power transformers, inverter-duty transformers for solar applications, and special-purpose transformers. These products facilitate the efficient transmission and distribution of electrical energy across diverse industrial and infrastructure projects. The business primarily generates revenue by supplying its products to B2B and B2G clients, with a significant portion of its sales originating from government-controlled entities, public utilities, and state electricity boards. Operating out of its manufacturing facilities in Sonipat, Haryana, the company possesses an annual installed production capacity of 15,00,000 KVA for distribution transformers and 1,350 MVA for power transformers. Its operations span multiple Indian states, with a major market concentration in Uttar Pradesh, Bihar, and Madhya Pradesh.
Financials of Raksan Transformers
Issue size
| Funds Raised in the IPO | Amount (₹ crores) |
| Total issue size | 150.50 |
| Fresh Issue – Proceeds go to the company | 120.47 |
| Offer for sale – Proceeds go to the existing investors | 30.03 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Funding capital expenditure for a manufacturing facility |
62.14 (51.58%) |
| Meeting working capital requirements | 35 (29.05%) |
| Repayment or prepayment of certain borrowings | 7.28 (6.04%) |
| General corporate purposes | 16.05 (13.33%) |
Strengths
- Established in-house manufacturing operations for varied transformer capacities.
- Robust order book demonstrating strong demand and future revenue visibility.
- Proven track record of consistent financial performance and profitability.
- Deeply rooted relationships with key government and public utility clients.
- Experienced promoter and management team guiding strategic growth.
Risks
- High reliance on government contracts exposes the business to policy shifts and tender delays.
- Significant revenue concentration stems from a limited number of key clients.
- Volatility in raw material prices can adversely impact overall profitability.
- Working capital constraints and payment delays may disrupt operations and future growth plans.
- Operations are heavily concentrated in a few specific states, increasing regional risks.