• Raksan Transformers Ltd IPO
Raksan Transformers Limited logo featuring an orange globe icon with 'RAKSAN' text and a red lightning bolt 'S', alongside the tagline "The Name of Trust"

Raksan Transformers IPO

  • Status: Live
  • RHP:
  • BSE SME
  • ₹ 206,400 / 800 shares

    Minimum Investment

Raksan Transformers IPO Details

  • Open Date

    10 Sep 2026

  • Close Date

    15 Sep 2026

  • IPO Price Range

    ₹ 258 to ₹273

  • IPO Size

    ₹ 150.50 Cr

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Timeline Subscription Status Financials SWOT FAQ Contacts

Raksan Transformers IPO Timeline

Raksan Transformers IPO Subscription Status

Last Updated: 11 September 2026 10:40 AM by 5paisa

Raksan Transformers Limited is an ISO 9001:2015 certified manufacturer of distribution, power, solar and special-purpose transformers. Operating two manufacturing facilities in Rai, Sonepat, Haryana, the Company serves government entities, utilities, PSUs, EPC contractors and industrial clients. Its facilities support integrated manufacturing, testing and quality control processes. Approved by over 20 entities, Raksan manufactures BIS-compliant transformers and offers customised solutions based on voltage, power, climatic and operational requirements. 

Established in: 1995 

Managing Director:  Sanjeev Kanda 

Peers: 

Marsons Limited 

Shilchar Technologies Limited 

Supreme Power Equipment Limited

Raksan Transformers IPO Size 

Types Size
Total IPO Size ₹150.50 Cr  
Offer For Sale ₹120.47 Cr 
Fresh Issue ₹30.03 Cr 

Raksan Transformers IPO Lot Size  

Application Lots Shares Amount (₹)
Retail (Min)   2 800  2,06,400 
Retail (Max)   2 800  2,18,400 
S-HNI (Min)  3 1,200  3,09,600 
S-HNI (Max)  9 3,600  9,82,800 
B-HNI (Min)  10 4,000  10,32,000 

Raksan Transformers IPO Reservation

Investors Category Subscription (times) Shares Offered* Shares bid for Total Amount (Cr.)*
QIB (Ex Anchor) 1.17 10,47,200 12,30,400 33.590
Non-Institutional Buyers 0.06 7,86,000 50,000 1.365
  bNII 0.05 5,25,000 24,800 0.677
 sNII 0.10 2,61,000 25,200 0.688
Retail 0.17 18,33,600 3,12,000 8.518
Total** 0.43 36,66,800 15,92,400 43.473

*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.

Profit and Loss

Balance Sheet

Particulars (In ₹ Crores) FY24 FY25 FY26
Revenue 160.95   324.21   363.11  
EBITDA 10.19   29.51  46.72  
PAT 7.59  20.38  33.60 
Particulars (In ₹ Crores) FY24 FY25 FY26
Total Assets 67.02   117.90   155.59  
Share Capital 0.87   0.87  16.48  
Total Liabilities 67.02   117.90   155.59  
Particulars (In ₹Crores.) FY24 FY25 FY26
Net Cash Generated From / (used in) Operating Activities 7.43   5.36   14.89  
Net Cash Generated From / (used in) Investing Activities -7.42   -22.55   -11.19  
Net Cash Generated From / (used in) Financing Activities 3.58   12.76  -3.68 
Net Increase (Decrease) in Cash and Cash Equivalents 3.58   -4.43  0.02  


Strengths

1. Diversified transformer portfolio across multiple applications  

2. Established relationships with utilities and government entities  

3. In-house manufacturing, testing and fabrication capabilities  

4. BIS compliance and recognised quality certifications maintained  

Weaknesses

1. Operations remain highly working capital intensive  

2. Significant dependence on fluctuating raw material prices  

3. Manufacturing operations concentrated within Haryana facilities  

4. Exposure to competitive transformer manufacturing industry conditions

Opportunities

1. Rising investments in power transmission infrastructure  

2. Renewable energy expansion supports transformer demand growth  

3. Growing electrification creates additional market opportunities  

4. Customised transformers can expand industrial customer base 

Threats

1. Raw material volatility could pressure operating margins  

2. Intense industry competition may affect pricing flexibility  

3. Delayed utility projects could impact order execution  

4. Regulatory changes may increase compliance-related requirements 

1. Established presence across key domestic denim markets  

2. Hybrid manufacturing model supports operational flexibility efficiently  

3. Own NJD brand strengthens product market presence  

4. IPO proceeds could support future business expansion 

Raksan Transformers operates in India’s denim fabric market, serving garment manufacturers, distributors, dealers and wholesalers across key domestic regions. Its hybrid model combines third-party manufacturing with leased in-house looms, providing operational flexibility while expanding production capabilities. The NJD brand, established distribution network and promoter experience support its market presence. Planned investments in warehousing, infrastructure and working capital could strengthen operational capacity and support wider business expansion over time. 

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FAQs

Raksan Transformers IPO opens from September 10 2026 to September 15, 2026. 

The size of Raksan Transformers IPO is approximately ₹150.50 crore. 

The price band of Raksan Transformers IPO is fixed at ₹258 to ₹273 per share. 

To apply for Raksan Transformers IPO, follow the steps given below: 

●    Login to your 5paisa demat account and select the issue in the current IPO section     

●    Enter the number of lots and the price at which you wish to apply for the Raksan Transformers IPO.     

●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange. 

You will receive a mandate notification to block funds in your UPI app. 

The minimum lot size is 800 shares, requiring an investment of approximately ₹‬2,06,400. 

The share allotment date of Raksan Transformers IPO is September 16, 2026. 

The Raksan Transformers IPO will likely be listed on September 18, 2026. 

Hem Securities Ltd is the book-running lead manager. 

1. Funding capital expenditure towards setting up of manufacturing facility at Liwaspur, Sub-Tehsil Rai, Distt. Sonepat, Haryana     

2. To meet working capital requirements     

3. Repayment of certain borrowing availed by the Company, in part or full     

4. General Corporate Purposes