Raksan Transformers IPO Listing: Shares Debut Flat, Slip 0.71% After
- September 18, 2026
- Posted by: Harsh Piplani
- Category: News
Raksan Transformers lists at Rs 273 on BSE SME, flat versus issue price. Later trades at Rs 271.05, down 0.71%. Subscribed 43.76 times overall. Issue size Rs 150.50 Cr.
Quick Answer
Raksan Transformers debuted at Rs 273 on the BSE SME platform today, exactly matching its issue price. The stock then slipped slightly through the session to trade at Rs 271.05, down 0.71 percent from the listing price, on a day of subdued SME trading. The transformer manufacturer’s IPO had been subscribed 43.76 times overall.
Raksan Transformers IPO Listing Today: The IPO closed subscription at 43.76 times overall on 15 September 2026. Here is a recap of the offer itself, the listing day details, and how the stock actually traded once it opened.
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Raksan Transformers IPO Listing: Issue Details
Raksan Transformers Limited raised Rs 150.50 crore, combining a fresh issue of 28,42,800 shares with an offer for sale of 11,00,000 shares by the promoters. The issue listed on the BSE SME platform, with a tentative listing date of 18 September 2026. Bidding ran from 10 September 2026 to 15 September 2026, at a face value of Rs 10 per share and a price band of Rs 258 to Rs 273 per share.
| Particular | Detail |
|---|---|
| Allotment Date | 16 September 2026 |
| IPO Open Date | 10 September 2026 |
| IPO Close Date | 15 September 2026 |
| Issue Size | Rs 150.50 crore |
| Face Value | Rs 10 per share |
| Lot Size | 400 shares |
| Issue Price | Rs 273 per share |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Listing Date | 18 September 2026 |
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Raksan Transformers IPO Listing Price and Performance
Shares opened at Rs 273 on the BSE SME platform, exactly matching the issue price for a flat debut. The stock then eased to Rs 271.05, a 0.71 percent dip from the listing price, after touching a high of Rs 277 and a low of Rs 261.30 through the session. About 22.40 lakh shares changed hands at the counter. This is one of the more muted SME debuts of the week, despite the issue being subscribed over 43 times.
About the Raksan Transformers IPO
Raksan Transformers Limited, incorporated in 1995 and based near Delhi, manufactures distribution and power transformers under its RAKSAN brand, along with solar-application and special-purpose transformers, serving power generation, transmission and distribution utilities, government entities, EPC contractors and industrial customers. The company had 143 employees as of 31 March 2026 and is an approved vendor for more than 20 power sector entities, with roughly 13 percent of FY25 revenue coming from exports. Promoters of the company are Sanjeev Kanda, Dievam Singh Kanda, and Renu Kanda. Bigshare Services is the registrar for the issue.
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Raksan Transformers Limited Financials
Here is how Raksan Transformers Limited has performed financially over the last three fiscal years.
| Year Ended | 31 Mar 2026 (Rs cr.) | 31 Mar 2025 (Rs cr.) | 31 Mar 2024 (Rs cr.) |
|---|---|---|---|
| Revenue | 363.63 | 324.78 | 162.53 |
| Profit After Tax | 33.61 | 20.38 | 7.59 |
| EBITDA | 46.72 | 29.51 | 10.19 |
Explanation
Revenue more than doubled between FY24 and FY26, from Rs 162.53 crore to Rs 363.63 crore, with FY25 doing most of the heavy lifting. Profit after tax jumped even faster, rising from Rs 7.59 crore to Rs 33.61 crore over the same period, and the EBITDA margin expanded from about 6.3 percent in FY24 to nearly 13 percent in FY26. The company also entered its IPO with a comparatively low debt-to-equity ratio of around 0.27.
Grey market premium (GMP) is an unofficial, unregulated indicator for the Raksan Transformers IPO that is not endorsed by SEBI, NSE, or BSE. Investors looking for indicative GMP data around the Raksan Transformers IPO listing can go through other relevant sources, though such figures should never be the sole basis for an investment decision.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs
What was the Raksan Transformers IPO listing price?
Ans. Raksan Transformers shares listed at Rs 273 on the BSE SME platform, exactly matching the Rs 273 issue price for a flat debut.
Was the Raksan Transformers IPO listing a premium or a discount?
Ans. The listing itself was flat. The stock later slipped 0.71 percent below its listing price during the session, hitting a low of Rs 261.30.
How much was the Raksan Transformers IPO subscribed?
Ans. The IPO was subscribed 43.76 times overall by the close of bidding on 15 September 2026.
What is the issue price of the Raksan Transformers IPO?
Ans. The issue price was fixed at Rs 273 per share, the top of the Rs 258 to Rs 273 price band.
What is the lot size of the Raksan Transformers IPO?
Ans. The lot size was 400 shares, meaning a minimum investment of about Rs 1,09,200 at the upper price band.
Who is the registrar for the Raksan Transformers IPO?
Ans. Bigshare Services Private Limited is the registrar.
What does Raksan Transformers do?
Ans. Raksan Transformers manufactures distribution and power transformers, along with solar-application and special-purpose transformers, mainly for power utilities and government entities.
Where can I track the Raksan Transformers share price now?
Ans. You can track it on the BSE SME platform, or through the Univest platform.
Should I hold shares after the Raksan Transformers IPO listing?
Ans. That depends on your own risk appetite and time horizon. Worth weighing the strong FY24-26 growth against the fact that the stock is already trading below its listing price, and that the business is capital intensive with government-tender dependency.
