On 13 June,2024, the Allotment Committee of Transformers and Rectifiers Ltd (TRIL) announced issuance of 7,518,796 equity shares to certain qualified institutional buyers (QIB) worth Rs 500 Crore.

These shares will be sold at a price of ₹665 each. This price is discounted by ₹34.95 per share, which is about 5% less than the original floor price of ₹699.95 per share. The decision and pricing follow the rules set by SEBI, the regulatory authority, under a specific regulation.

Institutional investors participating in the QIP will have a lock-in period of 60 days. Nuvama Wealth Management is serving as the bankers to the deal.

TRIL is one of the leading manufacturers of a wide range of transformers globally. TRIL is second largest Transformer manufacturing company based on Capacity in India. It has capability to develop world class power, distribution, furnace and specialty transformers with world class infrastructure at three plants around the city of Ahmedabad (Gujarat, India).

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