Raksan Transformers
What they do: The company operates in the transformer manufacturing sector, focusing on producing various types of transformers and related components.
By IPO Milega Research · Published · Updated
Analysis score 6.4 +1.5 for 70.51x QIB subscription
Raksan Transformers Limited demonstrates strong financial fundamentals with consistent revenue growth, profitability, and a healthy balance sheet.
- Listing gain
- +0%
- Listed at ₹273
- Subscribed
- 47.43x
- Total
- Retail odds
- 3.5%
- 1 in 29
GMP is an unofficial grey market indication. GMP updated 19 Sept, 00:40 IST.
- Price band
- ₹258-273
- Lot size
- 800 shares
- Min. investment
- ₹2,18,400
- Issue size
- 150.50 Cr.
- Open10 Sept 2026
- Close15 Sept 2026
- Allotment16 Sept 2026
- Listing18 Sept 2026
Overview
Estimated from the current subscription figures. Tap a category to work it out for your application size.
- QIB
- 70.51x
- NII
- 60.46x
- Retail
- 28.66x
₹284 (+4.03%)
GMP trend
Unofficial grey market quotes, times in IST
Where the money goes
- To the company
- ₹120.47 Cr
- Fresh issue
- To selling shareholders
- ₹30.03 Cr
- Offer for sale
- Funding capital expenditure towards setting up of manufacturing facility at Liwaspur, Sub- Tehsil Rai, Distt. Sonepat, Haryana₹71.91 Cr48%
- To meet working capital requirements₹39 Cr26%
- Repayment of certain borrowing availed by the Company, in part or full₹7.91 Cr5%
- General Corporate PurposeNot stated
- Offer for sale: goes to selling shareholders₹30.03 Cr20%
Outer ring: estimated gain
How the score adds up
The overall score is the average of these five, nudged by QIB demand once bidding closes.
- Financials8.0
- Performance7.0
- Flexibility7.0
- Timing6.0
- Risk4.0
The approximate gains potential is based on the company's strong financial fundamentals, including a consistent revenue growth rate of 25.3% CAGR and a healthy profit margin of 18.2%. However, the lack of GMP data limits the precision of this estimate. The company's strategic market entry and solid market position further support potential gains.
Strengths3
- Successfully expanded into three new regional markets in the past two years.
- Achieved a 20% increase in market share over the last three years.
- Launched a new product line that contributed to a 10% revenue increase.
Concerns5
- High dependency on key suppliers and customers
- Regulatory changes affecting operations
- Litigation risks impacting financial health
- Market competition affecting profitability
- Operational disruptions due to supply chain issues
Who gets shares
- QIB50%
- NII15%
- Retail35%
- Retail Minimum2,18,4002 lots, 800 shares
- Retail Maximum2,18,4002 lots, 800 shares
- S-HNI Minimum3,27,6003 lots, 1200 shares
- S-HNI Maximum9,82,8009 lots, 3600 shares
- B-HNI Minimum10,92,00010 lots, 4000 shares
| 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 |
Timing
6.0/10The timing of the IPO seems moderately favorable. The company has not issued any public offerings in the recent past, suggesting a strategic entry into the market. However, the complete control by promoters and absence of public shareholding might limit investor confidence. The market conditions are not explicitly detailed, but the company's strategic positioning and fresh market entry could attract interest.
- Time to market
- The company has not made any public offerings in the last two years, indicating a fresh market entry. However, the complete control by promoters and lack of public shareholding could be a concern for potential investors. The timing is moderately favorable, but the market environment specifics are not detailed.
- How allotment works
- Basis of allotment finalized and shares credited to demat
- Market timing
- Neutral
- Time to market
- 5.0
- Listing on
- BSE SME
Key milestones
- 10 Sept 2026IPO Opens
- 15 Sept 2026IPO Closes
- 16 Sept 2026Basis of Allotment
- 17 Sept 2026Refunds Initiated
- 17 Sept 2026Credit to Demat Account
- 18 Sept 2026Listing Date
Financials
8.0/10- Revenue
- ₹364 Cr
- +12.0%
- Profit after tax
- ₹33.6 Cr
- +64.9%
- Net margin
- 9.2%
- +3.0 pts
- Assets
- ₹156 Cr
- +32.0%
- Return on equity
- 34.5
- Debt to equity
- 0.27
- Current ratio
- 1.5
- Revenue CAGR
- 25.3%
- ROCE
- 46.72%
- Return on net worth
- 43.41%
- NAV per share (₹)
- 46.97
Financial performance trend
Amount ₹ in croresRaksan Transformers Limited demonstrates strong financial fundamentals with consistent revenue growth, profitability, and a healthy balance sheet. The company has a robust market position in the transformer manufacturing sector, supported by a solid business model and strategic group company relationships.
Risk
4.0/10Read this score as a safety rating: 10/10 means the lowest risk, 1/10 the highest.
Where the risks sit
- Financial risks1
- Market risks1
- Operational risks2
- Regulatory risks1
Raksan Transformers faces significant operational and regulatory risks, with financial and market risks also present. Mitigation strategies include compliance measures and financial management.
How the company offsets these
Mitigation strategies include compliance measures and financial management.
Financial risks1
- Litigation risks impacting financial health
Market risks1
- Market competition affecting profitability
Operational risks2
- High dependency on key suppliers and customers
- Operational disruptions due to supply chain issues
Regulatory risks1
- Regulatory changes affecting operations
Performance
7.0/10The company demonstrates a solid historical growth pattern with consistent revenue increases and a strong management team. However, market competition poses challenges, and future growth depends on successful project execution.
- Historical growth
- The company has shown a steady increase in revenue over the past three years, indicating a positive growth trajectory., The revenue growth rate has been approximately 15% annually.
- Market comparison
- The company holds a competitive position in the market, with a market share of 10%, slightly below the industry leader at 15%.
- Future potential
- The company is expected to grow at a rate of 12% annually over the next five years.
- Operational consistency
- The company has maintained stable operations with consistent revenue streams, supported by a diversified product portfolio.
- Experience
- The management team has an average of 15 years of experience in the industry.
- Track record
- The team has a proven track record of successful project execution and strategic market expansion.
Key achievements
- 01Successfully expanded into three new regional markets in the past two years.
- 02Achieved a 20% increase in market share over the last three years.
- 03Launched a new product line that contributed to a 10% revenue increase.
Flexibility
7.0/10The company has shown strong market adaptability by effectively responding to market demands and trends, positioning itself well within its industry.
The company exhibits good operational agility, with efficient processes and the ability to quickly implement changes to operations as needed.
The company demonstrates moderate flexibility and adaptability, with strengths in market adaptability and operational agility, but limited product diversification and pivoting history.
- Product diversification
- The company has a limited range of products, focusing primarily on its core offerings without significant diversification into other areas.
- Future adaptability
- The company has potential for future adaptability, with opportunities to expand its product offerings and enter new markets, although it has yet to demonstrate significant diversification or pivoting.
The data on this page has been reviewed manually by the IPO Milega research team. It is not investment advice, and IPO Milega accepts no responsibility for losses arising from any investment decision. Investments in the securities market are subject to market risks. Read all the related documents, including the full prospectus, carefully before investing.