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December 9, 2007

Transformers and Rectifiers (India) Limited (TRIL) - IPO

Transformers and Rectifiers (India) Limited (TRIL)


07 to 12 Dec 2007


2995000 Equity Shares

Reserved for Retail

853500 (28%)


100% Book Building

Face Value

Rs. 10-

Price Range

Rs 425 to 465

Market Lot


Maximum shares Retails investor can apply at cut off

210 shares (Rs. 97650)


Intime Spectrum Registry Limited

Registrar's email

Lead Manager

Enam Securities Pvt Ltd




CARE IPO Grade 4" indicating above average fundamentals

About the company

Initially incorporated in July, 1994 as Triveni Electric Company Ltd., TRIL subsequently changed its name to its present form in March, 1995. TRIL is into manufacturing of electrical transformers for power sector and industrial applications.

The company has manufacturing facilities located at Changodar and Odhav in Ahmedabad; Gujarat, for producing 7,200 mva of transformers per annum. The company manufactures distribution and industrial transformers upto 33 kv class at its Odhav facility and power transformers from 66 kv up to 220 kv at its Changoder facility. TRIL has two subsidiaries, viz. Transweld Mechanical Engineering Works Ltd. and Transpares Ltd., which produce transformer tanks and radiators respectively.

TRIL is primarily into manufacturing of electrical transformers for various applications in the power and industrial sectors.

TRIL has a healthy order book position of Rs.319 crore as on September 1, 2007 with most of the contracts having an embedded price variation clause, shielding the company from adverse movement in prices of key raw materials like copper and steel. TRIL has strong in- house design capabilities which is a key success factor for this industry as transformers are custom built as per the requirements of the customer.

Objects of the Issue

1. Setting up of greenfield manufacturing facility at Moraiya, near Ahmedabad, Gujarat for manufacturing transformers;

2. To part-finance incremental working capital requirements;

3. To meet the expenses of the Issue

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