TMC Transformers filed draft papers for a ₹550 crore IPO.
The IPO is entirely a fresh issue with no OFS component.
Funds will be used to set up a greenfield EHV transformer facility in Gujarat.
TMC Transformers (India) Ltd has filed preliminary papers with capital markets regulator Sebi to raise ₹550 crore through an Initial Public Offering (IPO).
The proposed IPO is entirely a fresh issue of equity shares with no Offer For Sale (OFS) component, according to the Draft Red Herring Prospectus (DRHP) filed on Tuesday.
Proceeds from the fresh issue will be used to fund capital expenditure for setting up a greenfield Extra High Voltage (EHV) transformer manufacturing facility with an aggregate installed capacity of 78,000 MVA at Halol in Gujarat, part-fund the company's incremental working capital requirements, and for general corporate purposes.
1 June 2026
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The Gujarat-based company may also undertake a pre-IPO placement of specified securities worth up to ₹110 crore before filing the Red Herring Prospectus with the Registrar of companies.
If such placement is completed, the size of the fresh issue will be reduced accordingly.
TMC Transformers is an integrated, design-led transformer manufacturer with capabilities across multiple transformer types and voltage classes.
Its product portfolio includes oil-filled transformers of up to 160 MVA/220 kV class, dry-type transformers of up to 20 MVA/36 kV class, and compact substations of up to 3 MVA/36 kV class.
According to the DRHP, the company is among the few transformer manufacturers in India with the capabilities and certifications to cater to major end-user segments, including railways, renewable energy, metro projects, industrial customers and power distribution companies, citing a CRISIL report.
Hriday Narayan R Shukla is the promoter of the company.
Anand Rathi Advisors and Intensive Fiscal Services are the book-running lead managers to the issue.
