Tarapur Transformers IPO Analysis

Tarapur Transformers Limited (TTL) was incorporated on May 1988 as a Private Limited Company and was subsequently changed to public company on March, 2007. TTL is engaged in the repairs, upgradation and manufacturing of power and distribution transformers. It is a 73.5% subsidiary of Bilpower Ltd, which manufactures laminations and motor stampings. Tarapur Transformers Ltd has been the registered vendor to various state electricity boards (SEB) across the country and is also registered with many private companies for supply and repair of power transformers.

TTL manufactures Transformers up to 220 Kilo Volt (KV) class, having an installed capacity of manufacturing of 1,839.40 Mega Volt Ampere (MVA) & repairing of 1,800 MVA per annum.Currently company operates through three manufacturing units located at Boisar, Pali and Vadodara.

 

Post issue Promoters & Promoter’s group shareholding will reduce to 56.41% from existing 100%.

Issue Objectives  

• Expansion and Modernization of Pali Unit
• To part-finance incremental working capital requirements, acquisition of business, marketing and corporate branding expenses and general corporate expenses

Tarapur Transformers Limited IPO Grading / Rating
CRISIL has assigned an IPO Grade 1 indicating poor fundamentals.

Issue Open: Apr 26, 2010 - Apr 28, 2010
Issue Type: 100% Book Built Issue IPO
Issue Size: 8,500,000 Equity Shares Issue Size: Rs. 55.25 to 63.75 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 65 - Rs. 75 Per Equity Share
Market Lot: 90 Shares
Minimum Order Quantity: 90 Shares
Listing At: BSE, NSE

Tarapur Transformers IPO Analysis
Tarapur Transformers Draft Prospectus
Tarapur Transformers Allotment Status
Tarapur Transformers Basis of Allotment