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Home
InvestmentsIPORaksan Transformers IPO

Raksan Transformers IPO

SME

Open Date

10 Sep 2026

Close Date

15 Sep 2026

Min Investment

₹ 2,18,400

Lot Size

400

Issue Size

₹ 150.50 Cr

Price Range

₹ 258 - ₹ 273

Subscribed

1.38 x
Apply Now
status

IPO Open Now.

IPO Timeline
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IPO Offer Start
10 Sep 2026
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IPO Offer Ends
15 Sep 2026
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Allotment Finalisation
16 Sep 2026
check
Refund Initialisation
17 Sep 2026
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Non-Institutional Buyers (sHNI)
17 Sep 2026
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Listing of Shares
18 Sep 2026
IPO Subscription Details as on 13 Sep 2026, 03:02 PM
Qualified Instituational Buyers (QiB)
3.87 x
Retail
0.34 x
Total
1.38 x
Non-Institutional Buyer (bHNI)
0.65 x
Non-Institutional Buyer (sHNI)
0.24 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
The company is an ISO 9001:2015 certified transformer manufacturer established in 1995, initially engaged in repair and servicing before establishing manufacturing operations in 2005-06. The company operates two manufacturing facilities in Sonepat, Haryana with combined production capacity of 15,00,000 KVA for distribution transformers and 1350 MVA for power transformers. The company manufactures distribution transformers, power transformers, transformers for solar applications, and special purpose transformers, serving government entities, utility companies, EPC contractors, and industrial clients across multiple sectors.
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Founded In

1995

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CEO

Dievam Singh Kanda

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DRHP

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Financials of Raksan Transformers IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2024Mar 2025Mar 2026
Operating Revenue160.95324.21363.11
Other Income1.580.570.52
Total Income
162.52324.78363.63
Total Expenses
152.12297.03318.44
Profit Before Tax10.4027.7545.19
Total Profit
7.5920.3833.60

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company proposes to utilize funds for expansion of manufacturing capabilities by building factory shed and installation of additional plant and machinery. The proposed capacity expansion will complement current manufacturing setup and help expand existing capacity for transformer manufacturing.62
With business expansion, the company will need additional working capital for trade receivables, inventories, payment to trade payables and funding day-to-day operations. The company will meet requirements from net proceeds and balance from borrowings as per requirement.35
The company proposes to utilize funds towards full or partial repayment of certain borrowings to help reduce outstanding indebtedness, debt servicing costs, assist in maintaining favorable debt to equity ratio and enable utilization of internal accruals for business growth.7
The company intends to deploy remaining fresh issue proceeds for general corporate purposes to drive business growth including meeting operating expenses, initial development costs for projects, strengthening business development and marketing capabilities, meeting exigencies and other purposes as approved by Board.-
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  • Established Manufacturing facility and In-house operations: The company operates two manufacturing facilities spread across 3037.5 sq. mtrs with combined installed production capacity of 15,00,000 KVA for Distribution transformers and 1350 MVA for Power transformers, equipped with comprehensive machinery and in-house capabilities for core cutting, wire drawing, and tank fabrication.
  • Strong Order Book: As of June 30, 2026, the company has 83 orders in hand aggregating into an order book of Rs. 32,967.92 lakhs, demonstrating consistent growth due to continued focus on quality and customer retention capabilities.
  • Established relationship with the clients including government entities, power utilities: The company is an approved vendor for over 20 entities including power distribution corporations and public sector undertakings, with a customer base of around 121 customers and revenue from top 5 customers constituting 46.36% of total revenue in FY 2025-26.
  • Quality assurance: The company has obtained ISO 9001:2015 certification, BIS approval for transformers up to 2500 kVA, and BEE certification for Level 2/3 energy efficiency ratings, ensuring compliance with quality management standards across both manufacturing facilities.
  • Experienced and Strong Promotors/Management team: The company is led by promoter Sanjeev Kanda with around 31 years of experience in the transformer industry, supported by directors and senior management with diverse experiences in transformer manufacturing, finance, and regulatory compliance.
  • Track record of profitability and consistent financial performance: The company achieved revenue from operations of Rs. 36,310.82 Lakhs in FY 2025-26 with EBITDA margin of 12.87%, PAT margin of 9.25%, and maintains a debt-to-equity ratio of 0.27:1 as of March 31, 2026.

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