Trom Industries IPO: Read the New IPO in Detail

• Trom Industries IPO is a book-built issue of Rs 31.37 crores.
• This upcoming IPO bidding opens on July 25 and closes on July 29, 2024.
• Trom Industries SME IPO price is set at Rs 100 - Rs 115 per share.
• The minimum investment required Rs 1,38,000.
  

Trom Industries IPO: Synopsis

Trom Industries IPO is open for subscription starting Thursday, July 25, 2024, and closing on Monday, July 29, 2024. The price of this upcoming IPO is set at Rs 96 per share. 

The minimum lot size set for the retail category is 1200 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 2400 shares. The minimum investment required for retail category investors is Rs 1,38,000 (115 x 1200 shares). However, for the HNI category, the minimum investment amount required is Rs 2,76,000 (115 x 2400 shares). 

Trom Industries IPO is a book-built issue of Rs 31.37 crores. This upcoming IPO is an entirely fresh issue of 6.02 lakh equity shares. The allotment for this new IPO is expected to be finalised on Tuesday, July 30, 2024. 

Trom Industries IPO will be listed on NSE SME on Thursday, August 1, 2024. Expert Global Consultants Private Limited is the book-running lead manager, Kfin Technologies Limited is the registrar, and Sunflower Broking is the market maker for this IPO.

Also Read | S A Tech Software India IPO: Diving Into the Details of the IPO

Trom Industries IPO: About the Company

Trom Industries Limited was founded in 2011, is a solar EPC company specialising in residential solar rooftop systems, industrial solar power plants, ground-mounted solar power plants, and solar street lights. 

Trom Industries' business is in 1) Residential rooftop installations - they design and implement solar systems customised for individual homes. 2) Installations for the industrial sector - The company plans and builds large-scale solar power plants for industrial needs. 3) Ground-mounted solar power plants - This involves the development of ground-mounted solar collectors. 4) Supply and installation of solar street lights for public and commercial areas. 

Trom's product portfolio includes solar products:  Solar street lights, solar freezers, off-grid solar systems, solar home lights, solar water purifiers, and solar water pumps.

Trom Industries IPO: Objectives

The funds will be allocated to fund the company's capital expenditure requirements and to meet the day-to-day capital needs for the proper functioning of the business. The remaining funds will be utilised for general corporate purposes.

Trom Industries IPO: Other Important Details

Time-Table of Trom Industries IPO

Trom Industries IPO: Financial Metrics (Amt in Rs Lakhs)

Trom Industries posted revenue of Rs 5,454.68 lakhs and net profit of Rs 572.93 lakhs for the period ending on 31 Mar 2024. The company’s revenue increased by 125.98% but net profit increased by 1885.2% between the FY ending on 31 March 2024 and 31 Mar 2023. 

Minimum Investment: Lot Size Details

Promoters of Trom Industries Limited and Their Holdings

The promoters of Trom Industries company are Jignesh Patel and Pankaj Pawar. The promoters shareholdings before IPO is 98.84% but after the IPO the shareholdings will drop to 69.52%.

Trom Industries: Strength of Company

1. Trom Industries specializes in residential solar rooftop systems, industrial solar power plants, ground-mounted solar power plants, and solar street lights.

2. The company’s business is in the green energy sector, which has huge growth potential in future.

3. Trom Industries' fundamentals look strong. The debt-to-equity ratio is 0.47, and the price-to-book value ratio is 6.08.

FAQs

1. What are the details of the Trom Industries IPO?

Trom Industries IPO is a book-built issue of Rs 31.37 crores. This upcoming IPO is an entirely fresh issue of 6.02 lakh equity shares. The allotment for this new IPO is expected to be finalised on Tuesday, July 30, 2024.

2. Who are the lead managers for the Trom Industries IPO?

Expert Global Consultants Private Limited is appointed as the book-running lead manager for the IPO.

3. What is the role of Kfin Technologies in this IPO?

Kfin Technologies Limited is the registrar for Trom Industries Limited, handling the IPO's administrative aspects.

4. How can I apply for the Trom Industries IPO?

The public subscription of this new IPO will open on July 25, 2024. Click here to initiate the application process. 

5. How will the net proceeds from the IPO be utilised?

The funds will be allocated to fund the company's capital expenditure requirements and to meet the day-to-day capital needs for the proper functioning of the business. The remaining funds will be utilised for general corporate purposes.

6. How can I check the allotment status of the IPO?

Investors who applied can check the allotment status of the Trom Industries Limited IPO by visiting here. For further updates follow Bigul. 

Also Read | Aprameya Engineering IPO: Checkout the new IPO in Detail