Raksan Transformers made its debut on the BSE SME platform at ₹273 per share, exactly matching the issue price. The stock traded at ₹271.05, representing a 0.71% discount to the listing price. The counter experienced volatility during trading, hitting a high of ₹277 and a low of ₹261.30. According to reports from Business Standard, approximately 22.40 lakh shares changed hands during the listing session.
The company's initial public offering was subscribed 43.76 times during the bidding period from 10 September 2026 to 15 September 2026. The IPO comprised a fresh issue of 28,42,800 equity shares and an offer for sale of 11,00,000 equity shares. As reported by Business Standard, the price band was set between ₹258 to ₹273 per share. The promoter shareholding diluted to 74.32% post-issue from 94.22% pre-issue.
The company plans to utilize the net proceeds from the issue for funding capital expenditure for establishing a manufacturing facility at Liwaspur, Sub-Tehsil Rai, Sonepat, Haryana; meeting working capital requirements; repayment of borrowings; and general corporate purposes. According to Business Standard, ahead of the IPO, Raksan Transformers raised ₹42.86 crore from anchor investors on 9 September 2026. The board allotted 15.70 lakh shares at ₹273 each to 23 anchor investors.
Raksan Transformers operates as a manufacturer of distribution transformers, power transformers, solar-application transformers and special-purpose transformers. As reported by Business Standard, the company serves power generation, transmission and distribution networks, government entities, utilities, EPC contractors and industrial customers. The company had 143 employees as of 31 March 2026.
For the financial year ended 31 March 2026, Raksan Transformers recorded revenue from operations of ₹363.11 crore and net profit of ₹33.60 crore. According to Business Standard, the company's strong financial performance contributed to the robust investor response during the IPO subscription period.
