Electric Equipment - Transformers - Listed on 18 September 2026
Raksan Transformers (Electric Equipment - Transformers) closed its IPO window in 2026 and listed on NSE and BSE on 18 September 2026 at an upper band issue price of Rs 273, opening at Rs 273 for a listing gain of 0.0% and closing day one at Rs 286.6 (+5.0% on closing basis). The IPO was subscribed 44.18x overall - QIB 70.51x, HNI/NII 45.01x, Retail 28.66x. The total issue size was Rs 150.5 Cr (Fresh Issue Rs 120.47 Cr, OFS Rs 30.03 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Electric Equipment - Transformers
Raksan Transformers operates in the Electric Equipment - Transformers space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Raksan Transformers issue was offered at an upper price of Rs 273 and raised approximately Rs 150.5 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 20 | +7.33% |
| Day 2 | Rs 28 | +10.26% |
| Day 3 | Rs 30 | +10.99% |
| Day 4 | Rs 55 | +20.15% |
| Day 5 | Rs 55 | +20.15% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Raksan Transformers IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Raksan Transformers IPO listed at 0.0% versus the upper issue price of Rs 273 on 18 September 2026.
Raksan Transformers IPO was subscribed 44.18x overall. QIB portion was subscribed 70.51x, HNI / NII 45.01x and Retail 28.66x.
IPO GMP started at Rs 20 on Day 1 and moved to Rs 55 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.