Trom Industries Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | July 25, 2024 to July 29, 2024 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 100 to ₹ 115 per share |
| Lot Size | 1,200 Shares |
| Total Issue Size | 27,27,600 shares (aggregating up to ₹ 31.37 Cr) |
| Fresh Issue | 27,27,600 shares (aggregating up to ₹ 31.37 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 64,67,266 |
| Shareholding post issue | 91,94,866 |
| Market Maker portion | 1,36,800 shares Sunflower Broking |
About Trom Industries Limited IPO
Trom Industries Limited is a Solar EPC company specializing in residential solar rooftops, industrial solar power plants, ground-mounted solar power plants and solar street lights. Trom is engaged in the comprehensive development of diverse solar projects. For residential rooftop installations, Trom designs and implements solar systems tailored to individual homes. In the industrial sector, the company scales up its operations to design and construct larger solar power plants catering to industrial needs. Ground-mounted solar power plants involve the development of solar arrays on open land.
Trom Industries IPO is a book-built issue of Rs 31.37 crores. The issue is entirely a fresh issue of 27.28 lakh shares. Trom Industries IPO opens for subscription on July 25, 2024 and closes on July 29, 2024. Trom Industries IPO price band is set at ₹100 to ₹115 per share. The minimum lot size for an application is 1200 Shares. Expert Global Consultants Private Limited is the book-running lead manager of the Trom Industries IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Trom Industries IPO is Sunflower Broking.
Trom Industrie IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Trom Industries IPO Anchor Investors Details
| Bid Date | July 24, 2024 |
| Shares Offered | 776,400 |
| Anchor Portion Size (In Cr.) | 8.93 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 29, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 28, 2024 |
Company & Financials
Founded in 2011, Trom Industries Limited is a solar EPC (Engineering, Procurement and Construction) company specializing in residential solar rooftop systems, industrial solar power plants, ground-mounted solar power plants and solar street lights.
Trom Industries' business segments include:
- Residential rooftop installations: The company designs and implements solar systems customized for individual homes.
- Installations for the industrial sector: The company plans and builds large-scale solar power plants for industrial needs.
- Ground-mounted solar power plants: This involves the development of ground-mounted solar collectors.
- Supply and installation of solar street lights for public and commercial areas.
The company's product portfolio includes (1) solar products: Solar street lights, solar freezers, off-grid solar systems, solar home lights, solar water purifiers and solar water pumps, and (2) AC LED lights: AC LED street lights and AC LED flood lights.
Objectives of Trom Industries IPO
The company intends to utilize the proceeds of the issue to meet the following objectives:
- 1. Funding of capital expenditure requirements of the Company towards the set up of a Solar Power Plant.
- 2. To meet the working capital requirements.
- 3. General corporate purposes.
Trom Industries IPO Review
The company is operating in a highly competitive and fragmented segment. It posted inconsistency in its top and bottom lines and marked super earnings for FY24. Based on these super earnings, the issue appears reasonably priced. FY24 earnings indicate the likely trends going forward. Investors may park funds for the medium to long term.
Trom Industries Limited IPO Financial Information
Latest Revenue
5,454.68
₹ Crore
Profit After Tax
572.93
₹ Crore
Net Worth
1,222.57
₹ Crore
Total Borrowing
573.71
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 2,919.93 | 5,454.68 | 572.93 | 1,222.57 | 573.71 | ||||
| 31 Mar 2023 | 2,155.35 | 2,413.80 | 28.86 | 249.92 | 492.82 | ||||
| 31 Mar 2022 | 1,854.32 | 3,056.55 | 35.98 | 221.12 | 85.66 | ||||
| Amount in ₹ Crore | |||||||||
Trom Industries Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 77.82% |
| ROCE | 47.11% |
| Debt/Equity | 0.47 |
| RoNW | 77.82% |
| P/BV | 6.08 |
| PAT Margin (%) | 10.54 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 8.86 | 6.23 |
| P/E (x) | 12.98 | 18.46 |
Frequently Asked Questions
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Competitive Strengths
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Trom Industries Limited IPO Timeline
| IPO Open Date | Thursday, July 25, 2024 |
| IPO Close Date | Monday, July 29, 2024 |
| Basis of Allotment | Tuesday, July 30, 2024 |
| Initiation of Refunds | Wednesday, July 31, 2024 |
| Credit of Shares to Demat | Wednesday, July 31, 2024 |
| Listing Date | Thursday, August 1, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 29, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹138,000 |
| Retail (Max) | 1 | 1200 | ₹138,000 |
| HNI (Min) | 2 | 2400 | ₹276,000 |