Gujarat based Trom Industries Limited's IPO Closes on Monday, July 29, 2024 - World News Network

VMPL
New Delhi [India], July 25: Trom Industries Limited was originally formed as a Partnership Firm under the name and style of “Trom Solar” on August 08, 2011. Our Company was converted into a public limited company pursuant to a resolution passed in the meeting of the partners held on April 10, 2019, and the name of our Company was changed to “Trom Industries Limited”. Trom Industrial 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. It has now announced an Initial Public offer to opens on Thursday, July 25, 2024. This is a book -built issue of 2,727, 600 (aggregating up to Rs 31.37Cr.). The post-issue its listing will be on the Emerge Platform of the National Stock Exchange of India Limited (“NSE Emerge”).
IPO Information:
IPO Date – Thursday, July 25, 2024 to Monday, July 29, 2024
Listing Date – Thursday, August 01, 2024
Face Value – Rs10 per share
Price Band – Rs110 to Rs115 per share
Lot Size – 1200 Shares
Total Issue Size – 2,727,600 shares (aggregating up to Rs31.37 Cr)
Fresh Issue – 2,727,600 shares (aggregating up to Rs31.37 Cr)
Issue Type – Book Built Issue IPO
Listing At – NSE SME
Shareholding pre-issue – 6,467,266
Shareholding post issue – 9,194,866
Market Maker portion – 136,800 shares Sunflower Broking
Total QIB Category – Not more than 12,94,800Equity Shares
Non-Institutional Category – At least 5,88,800 Equity Shares
Retail Individual Category – At least 9,07,200 Equity Shares
The Net proceeds of the Issue will be utilised for:
1) Funding of capital expenditure requirements of the Company towards set up of Solar Power Plant
2) Working Capital requirements and
3) General Corporate purposes.
The Book Running Lead Manager to the issue is Expert Global Consultants Private Limited and the Registrar to the issue is KFin Technologies Limited.
About the Company
Trom Industries Limited is a Solar EPC (Engineering, Procurement, and Construction) Company specializing in residential solar rooftop, 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. Additionally, the Company extends its services to include the Supply and Installation of solar street lights for public and commercial areas. Its business encompasses engineering design, procurement of materials, on-site construction, project management, and adherence to regulatory standards across various sectors. Its solar applications contribute to the growth of sustainable energy solutions across residential, industrial, public domains and government sector. Also, its business operations encompass the extensive trading and distribution of a diverse range of products, including solar panels, inverters, and an array of materials intricately connected to the establishment and functioning of solar power plants. Furthermore, the company is also engaged in the trading of all types of footwear to a very small scale during the year. Trom Industries Limited is actively engaged in the development of green hydrogen projects as a pivotal aspect of its future business endeavours. Its warehouse is located at Plot No. B/53-A, G.I.D.C Electronics Estate, Sector No. 25, Gandhinagar-382024, Gujarat, India.

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