Bookbuilding IPO | ₹550 Cr | Listing at BSE, NSE |
Tmc Transformers (India) Ltd. has filed a Draft Red Herring Prospectus (DRHP) with SEBI on June 30, 2026 to raise funds through Initial Public Offer (IPO).
Tmc Transformers (India) Ltd. IPO is a Book Build Issue of ₹550.00 crores consisting solely of fresh issue of shares with no offer for sale component.
The equity shares are proposed to be listed on NSE and BSE. Anand Rathi Advisors Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Tmc Transformers (India) IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | [.] shares (agg. up to ₹550 Cr) |
| Fresh Issue | [.] shares (agg. up to ₹550 Cr) |
| Share Holding Pre Issue | 6,89,31,455 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Tue, Jun 30, 2026 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 75% of the Net Issue |
| Retail Shares Offered | Not less than 10% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
| Category | Limit | Cut-off |
|---|---|---|
| RII | Up to ₹2 Lakhs | Yes |
| sNII | ₹2 Lakhs – ₹10 Lakhs | No |
| bNII | Above ₹10 Lakhs | No |
| Employee (EMP) | Up to ₹2 Lakhs | Yes |
| Employee + RII/NII | Up to ₹2Lakhs (EMP) + RII/NII limits | Yes (EMP/RII) |
Incorporated in February 2009, TMC Transformers (India) Limited is an established transformer manufacturer in India, engaged in designing, manufacturing, and supplying a wide range of power and distribution transformers across multiple voltage classes. The company manufactures oil-filled transformers up to 160 MVA / 220 kV, dry-type transformers up to 20 MVA / 36 kV, and compact substations up to 3 MVA / 36 kV, catering to industries such as railways, renewable energy, metro, power utilities, industrials, and distribution companies.
The company operates an integrated, design-led manufacturing model supported by in-house engineering, testing, and certification capabilities. It is the only transformer manufacturer in India certified by RDSO for all transformer classes required for 2×25 kV traction substations and is among the only two Indian manufacturers approved to manufacture 100 MVA / 220 kV Scott-connected traction transformers for Indian Railways. TMC Transformers has also demonstrated strong financial performance, recording one of the fastest revenue growth rates among its peers while maintaining industry-leading gross profit margins.
Led by an experienced management team with deep expertise in transformer manufacturing, the company focuses on technology-driven product development, quality assurance, and serving high-entry-barrier sectors with customized transformer solutions.
As of March 31, 2026, the company had 192 full-time employees across manufacturing, design, quality, sourcing, sales, finance, administration, legal, and senior management functions.
Strengths
Tmc Transformers (India) Ltd.'s revenue increased by 54% and profit after tax (PAT) rose by 105% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 395.20 | 172.12 | 94.52 |
| Total Income | 419.65 | 273.16 | 248.00 |
| Profit After Tax | 95.71 | 46.65 | 15.10 |
| EBITDA | 133.05 | 66.69 | 22.39 |
| NET Worth | 205.33 | 102.04 | 55.42 |
| Reserves and Surplus | 205.30 | 102.00 | 55.37 |
| Total Borrowing | 117.42 | 20.70 | 22.86 |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Powerica Ltd. | Mainboard | ₹1,100.00 Cr | ₹395 | 24.45 | ₹390.00 | -1.27% | ₹616.05 (-0.17%) |
| Atlanta Electricals Ltd. | Mainboard | ₹687.85 Cr | ₹754 | 46.33 | ₹823.35 | +9.20% | ₹1,797.00 (-1.16%) |
| Accord Transformer & Switchgear Ltd. | SME | ₹25.59 Cr | ₹46 | 11.41 | ₹52.50 | +14.13% | ₹56.60 (-4.00%) |
| Avana Electrosystems Ltd. | SME | ₹35.22 Cr | ₹59 | 12.4 | ₹80.30 | +36.10% | ₹122.95 (+4.59%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure towards setting up the Proposed Facility | 231.78 |
| 2 | Part funding of the incremental working capital requirements of the Company | 165.95 |
| 3 | General corporate purposes | |
| Total | 397.73 |
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 75.21% |
| ROCE | 79.31% |
| Debt/Equity | 0.13 |
| RoNW | 62.28% |
| PAT Margin | 22.94% |
| EBITDA Margin | 31.89% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 13.89 | |
| Promoter Holding | 96.57% |
Lead Manager Reports
Tmc Transformers (India) IPO is a main-board IPO of 0 equity shares of the face value of ₹10 aggregating up to ₹550 Crores. The issue is priced at To be declared. The minimum order quantity is .
The Tmc Transformers (India) IPO open and close dates are not available as of now.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Tmc Transformers (India) IPO using UPI as a payment gateway. Zerodha customers can apply in Tmc Transformers (India) IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Tmc Transformers (India) IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Tmc Transformers (India) IPO dates are not announced. Please check back again after some time.
Tmc Transformers (India) IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Tmc Transformers (India) IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Tmc Transformers (India) IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Tmc Transformers (India) IPO allotment status.
The Tmc Transformers (India) IPO listing date is not yet announced. The tentative date of listing is .
