Raksan Transformers IPO: dates, price band, lot size and GMP
Raksan Transformers IPO listed on 18 Sep at ₹273 (BSE SME). Issue dates 10 – 15 Sep 2026, price band ₹258 – ₹273, lot 400 shares. The shares now trade on the exchange; any pre-IPO price on this site is historical.
Listing: Raksan Transformers listed on 18 Sep 2026 on BSE SME at ₹273, ₹0 (0.0%) against the ₹273 upper band. Raksan Transformers IPO listing date, price and gain · Recently listed IPOs
Updated 21 Oct 2026, 20:10 IST. Unofficial grey-market figures, dated.
BuyUnlistedShares tracks 211 IPOs on its calendar; the Raksan Transformers IPO has a price band of ₹258 – ₹273, a lot of 400 shares and no grey-market premium reported yet as of 21 Oct 2026.
Key details
| Board | SME |
|---|---|
| Issue dates | 10 – 15 Sep 2026 |
| Price band | ₹258 – ₹273 |
| Lot size | 400 shares |
| Issue size | ₹150.50 Cr |
| Fresh issue | ₹112.93 Cr |
| Offer for sale | ₹30.03 Cr |
| Subscription | 47.43x |
| Registrar | Bigshare Services Pvt.Ltd. |
| Lead managers | Hem Securities Ltd. |
| Status | Listed |
Timeline
- Issue opens: 10 Sep
- Issue closes: 15 Sep
- Allotment: 16 Sep
- Refunds: 17 Sep
- Demat credit: 17 Sep
- Listing: 18 Sep
Live subscription
| Category | Subscribed |
|---|---|
| QIB | 70.51x |
| NII | 60.46x |
| sNII | 37.65x |
| bNII | 71.8x |
| Retail | 28.66x |
| Total | 47.43x |
Last updated 15 Sep 2026, 6:54 PM IST.
Issue details
| Face value | ₹10 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | BSE SME |
| Market cap at the upper band | ₹570.39 Cr |
| P/E (pre-issue) | 13.39x |
| P/E (post-issue) | 16.98x |
| Fresh issue (shares) | 41,36,800 |
| Offer for sale (shares) | 11,00,000 |
| Total shares offered | 52,36,800 |
| Promoter holding pre-issue | 100% |
| Promoter holding post-issue | 73.61% |
| Promoters | Sanjeev Kanda, Dievam Singh Kanda, Renu Kanda |
| Lead managers | Hem Securities Ltd. |
| Registrar phone | 8657578989/8069219065/8069219060 |
| Registrar email | ipo@bigshareonline.com |
| Company website | raksantransformers.com |
| Anchor bid date | 9 Sep 2026 |
| Anchor lock-in ends (50%) | 16 Oct 2026 |
| Anchor lock-in ends (remaining) | 15 Dec 2026 |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 2 | 800 | ₹2,18,400 |
| Retail (maximum) | 2 | 800 | ₹2,18,400 |
| sNII (minimum) | 3 | 1,200 | ₹2,18,400 |
| bNII (minimum) | 3 | 1,200 | ₹10,92,000 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| Anchor Investor | 30% | 15,70,000 | |
| QIB | 20% | 10,47,200 | Not more than 50% of the Net Offer |
| NII (HNI) | 15% | 7,86,000 | Not less than 15% of the Net Offer |
| sNII | 5% | 2,61,000 | |
| bNII | 10% | 5,25,000 | |
| Retail | 35% | 18,33,600 | Not less than 35% of the Net Offer |
| Market Maker | 5.3% | 2,76,000 |
Subscription by day
| Day | QIB | NII | sHNI | bHNI | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 · 10 Sep | 1.17x | 0.41x | 0.07x | 0.57x | 0.13x | 0.49x |
| Day 2 · 11 Sep | 3.87x | 0.41x | 0.24x | 0.57x | 0.35x | 1.31x |
| Day 3 · 15 Sep | 70.51x | 60.46x | 37.65x | 71.80x | 28.66x | 47.43x |
Key ratios as of 31 Mar 2025
| EPS (pre-issue) | ₹20.39 |
|---|---|
| EPS (post-issue) | ₹16.08 |
| P/E (pre-issue) | 13.39x |
| P/E (post-issue) | 16.98x |
| RoNW | 46.23% |
| RoCE | 43.09% |
| RoE | 60.14% |
| PAT margin | 6.28% |
| EBITDA margin | 9.1% |
| Price / book | 10.21x |
| NAV per share | ₹26.74 |
| Debt / equity | 0.53 |
| Market cap (upper band) | ₹570.39 Cr |
Financials (₹ Cr)
| Metric | FY26 | FY25 | FY24 | FY26 vs FY25 |
|---|---|---|---|---|
| Assets | 155.59 | 117.9 | 67.02 | +32% |
| Total Income | 363.63 | 324.78 | 162.52 | +12% |
| Profit After Tax | 33.6 | 20.38 | 7.59 | +64.9% |
| EBITDA | 46.72 | 29.51 | 10.19 | +58.3% |
| NET Worth | 77.42 | 44.07 | 23.7 | +75.7% |
| Reserves and Surplus | 60.94 | 43.2 | 22.83 | +41.1% |
| Total Borrowing | 20.74 | 23.51 | 9.81 | −11.8% |
About Raksan Transformers
Incorporated in 1995, Raksan Transformers Ltd.primarily engaged in the repair and servicing of distribution and power transformers. As of March 31, 2025, the company operate through two manufacturing units, Plot No. 1676-1677, Sector-38, Phase-I, HSIIDC Industrial Estate, Rai, District Sonepat, Haryana and Plot no. 1413, HSIDC, Industrial Estate, Rai, District Sonepat collectively spread across approximately 2025 sq. mtrs and 1012.5 sq. mtrs. Products: Distribution Transformers Power Transformers Transformers for solar applications Special Purpose Transformers
Objects of the issue
- Funding capital expenditure towards setting up of manufacturing facility at Liwaspur, Sub-Tehsil Rai, Distt. Sonepat, Haryana — ₹62.14 Cr
- To meet working capital requirements — ₹35 Cr
- Repayment of certain borrowing availed by the Company, in part or full — ₹7.28 Cr
- General Corporate Purposes
Net proceeds: ₹104.42 Cr
Peer comparison
| Company | EPS (Basic) | EPS (Diluted) | P/E (x) | RoNW (%) | Financial statements |
|---|---|---|---|---|---|
| Raksan Transformers Ltd. (issuer) | 20.39 | 20.39 | — | 43.41% | Restated |
| Marsons Ltd | 2.69 | 2.69 | 49.63x | 21.28% | — |
| Shilchar Technologies Ltd | 138.25 | 138.25 | 29.47x | 32.22% | — |
| Supreme Power Equipment Limited | 8.18 | 8.15 | 27.75x | 17.49% | — |
Notes: Source - All the financial information for listed industry peers mentioned above is sourced from the Annual Reports of the aforesaid companies for the year ended March 31, 2026 and stock exchange data dated August 28, 2026 to compute the corresponding financial ratios. For the Company, we have taken Current Market Price as the Issue price of equity share. Further, P/E Ratio is based on the current market price of the respective scrips. The EPS, NAV, RoNW and total Income of the Company are taken as per Restated Financial Statement for the Financial Year 2025- 26.
Offer documents: DRHP (PDF) · RHP (PDF)
Track this issue
- Raksan Transformers IPO listing day: listed at ₹273 (0.0% vs the upper band), 18 Sep 2026
- Raksan Transformers IPO GMP today and trend
- Raksan Transformers IPO subscription status, day by day
- Raksan Transformers IPO allotment status and how to check
Frequently asked questions
When does the Raksan Transformers IPO open and close?
The issue is scheduled for 10 – 15 Sep 2026.
What is the Raksan Transformers IPO price band?
The price band is ₹258 – ₹273 per share with a lot size of 400 shares.
How big is the Raksan Transformers IPO?
The total issue size is ₹150.50 Cr, of which ₹112.93 Cr is a fresh issue and ₹30.03 Cr an offer for sale.
When will Raksan Transformers list?
The tentative listing date is 18 Sep on the SME platform.
How do I apply for the Raksan Transformers IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), Raksan Transformers · as filed with SEBI · bsesme.com
- Red herring prospectus (RHP), Raksan Transformers · as filed · bseindia.com
- Registrar allotment page, Bigshare Services Pvt.Ltd. · allotment 16 Sep · ipo.bigshareonline.com
- BSE SME issues page · listing 18 Sep · bsesme.com
- Raksan Transformers company website · raksantransformers.com
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 18 Sep, 04:07 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Raksan Transformers IPO”, https://buyunlistedshares.com/ipo/raksan-transformers-ipo, as of 21 Oct 2026.
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Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk, run by Gayatri Financial Synergy LLP. In the market since 2002. Data as of 21 Oct 2026.
Our notes on this IPO
- Read our note: Raksan Transformers IPO: Dates, Price Band, Allotment and Listing
Guides for IPO applicants and pre-IPO holders
- The risks of buying unlisted and pre-IPO shares in India
- Unlisted Shares Lock-In Period: What Every Investor Must Know (2026)
- What Happens to Your Unlisted Shares After the IPO? Lock-In Periods Explained
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