Raksan Transformers IPO

Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.

Raksan Transformers is an ISO 9001:2015 certified company, which manufactures transformers across different voltage ratings. Its product portfolio includes distribution transformers, power transformers, transformers for solar applications, and special purpose transformers, which are used in power generation, transmission and distribution networks, and various industrial and infrastructure projects. The company began operations in 1995, initially providing repair and servicing of distribution and power transformers, and started manufacturing transformers in 2005-06. As of March 31, 2026, the company operates two manufacturing facilities at HSIIDC Industrial Estate, Rai, District Sonepat, Haryana, with a combined area of approximately 3,037.5 sq. mtrs. The facilities have an installed production capacity of approximately 1,500,000 KVA for distribution transformers and 1,350 MVA for power transformers. The company also has a backward integration arrangement through its group company, SHR Powers Private Limited, which manufactures transformer tanks and bodies used in its production. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS).​ Proceeds from the OFS will go to the respective selling shareholders, whereas the net proceeds from the fresh issue will be utilised for the following purposes:​ Funding capital expenditure towards setting up a manufacturing facility at Liwaspur, Distt. Sonepat, Haryana — Rs 62.14 crore To meet working capital requirements — Rs 35 crore Repayment of certain borrowing availed by the company, in part or full — Rs 7.28 crore General corporate purposes