In this article you get to know insight about Transteel Seating Technologies Limited IPO Details. Transteel, incorporated in February 1995, is a seasoned furniture company with over two decades of experience in serving the corporate and B2B sectors. The company’s manufacturing facility is situated in Yeshwanthpur, Bangalore, Karnataka.
Transteel places customer satisfaction as its top priority. The company understands that the customer’s journey commences from the moment they visit the website and continues until the furniture is delivered. Whether it’s seamless website navigation, comprehensive product information, a hassle-free purchasing process, or timely delivery, Transteel’s objective is to provide an exceptional experience that goes beyond its customers’ expectations.
The competitive strengths of the company include:
An Experienced Management Team with Domain Expertise.
Sales and Distribution Channels Spanning Across All States of India.
A Commitment to Providing Value for Money, Offering Affordable Furniture Solutions.
Objects of the Issue
Prepayment/Repayment of Certain Debt Facilities: The company will use a portion of the funds to prepay or repay specific debt facilities that it has availed of.
Purchase of Equipment to Facilitate Manufacturing: The funds will be directed towards acquiring equipment that will enhance and support the manufacturing process.
Working Capital Requirements: A significant portion of the proceeds will be set aside to meet the company’s working capital needs. Adequate working capital is essential for the day-to-day operations of the business.
General Corporate Purposes: The company plans to allocate a portion of the funds for general corporate purposes, which can encompass a wide range of activities, including strategic investments, research and development initiatives, and exploring expansion opportunities.
Transteel Seating Technologies Limited IPO Details
| IPO Date | October 30, 2023 to November 1, 2023 |
| Face Value | ₹10 per share |
| Price | ₹67 to ₹70 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 7,140,000 shares (aggregating up to ₹49.98 Cr) |
| Fresh Issue | 6,784,000 shares (aggregating up to ₹47.49 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing | NSE SME |
| Share holding pre issue | 13,394,510 |
| Share holding post issue | 20,178,510 |
| Market Maker portion | 714,000 shares |
Transteel Seating Technologies Limited IPO Reservation
Qualified Institutional Buyers (QIB): QIBs will be offered up to 50% of the Net Issue.
Retail Investors: Retail investors will be allocated not less than 35% of the Net Issue.
Non-Institutional Investors (NII) or High Net Worth Individuals (HNI): NII or HNI investors will receive not less than 15% of the Net Issue.
Transteel Seating Technologies Limited IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 2000 | ₹140,000 |
| Retail (Max) | 1 | 2000 | ₹140,000 |
| HNI (Min) | 2 | 4,000 | ₹280,000 |
Transteel Seating Technologies Limited IPO Promoter Holding
Prior to the issue, the company’s shareholding was 83.75%, and after the issue, it will be reduced to 53.83%. This indicates the dilution of the promoter’s and existing shareholders’ ownership as a result of the issuance of new shares through the public offering.
Transteel Seating Technologies Limited IPO Tentative Dates
| IPO Open Date | Monday, October 30, 2023 |
| IPO Close Date | Wednesday, November 1, 2023 |
| Basis of Allotment | Monday, November 6, 2023 |
| Initiation of Refunds | Tuesday, November 7, 2023 |
| Credit of Shares to Demat | Wednesday, November 8, 2023 |
| Listing Date | Thursday, November 9, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 1, 2023 |
Transteel Seating Technologies Limited IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: Bigshare Services IPO Status
If you have any inquiries or require information related to the IPO, allotment status, or other related services, you can get in touch with them using the provided contact details.
FAQs
What is Transteel Seating Technologies Limited, and what is its area of expertise?
Transteel Seating Technologies Limited is a furniture company with over two decades of experience in serving the corporate and B2B sectors. The company specializes in providing furniture solutions for businesses.
Where is Transteel’s manufacturing facility located?
Transteel’s manufacturing facility is situated in Yeshwanthpur, Bangalore, Karnataka.
What is Transteel’s approach to customer satisfaction?
Transteel places customer satisfaction as a top priority and aims to provide an exceptional experience for its customers, starting from the website visit to timely product delivery. This includes seamless website navigation, comprehensive product information, and a hassle-free purchasing process.
What are the competitive strengths of Transteel Seating Technologies Limited?
Transteel’s competitive strengths include having an experienced management team with domain expertise, an extensive sales and distribution network covering all states of India, and a commitment to providing value for money by offering affordable furniture solutions.
What are the objectives of the Transteel Seating Technologies Limited IPO?
The IPO proceeds will be used for various purposes, including prepayment/repayment of certain debt facilities, purchase of equipment to enhance manufacturing, meeting working capital requirements, and general corporate purposes.
When is the Transteel Seating Technologies Limited IPO scheduled to take place?
The Transteel Seating Technologies Limited IPO is scheduled to be open for subscription from October 30, 2023, to November 1, 2023.
What is the face value of Transteel Seating Technologies Limited shares?
The face value of Transteel Seating Technologies Limited shares is ₹10 per share.
What is the price range for the IPO shares?
The IPO shares are priced in the range of ₹67 to ₹70 per share.
What is the lot size for the Transteel Seating Technologies Limited IPO?
The lot size for retail investors is 2000 shares, and for HNI (High Net Worth Individuals), it is 4000 shares.
How is the IPO issue structured in terms of share allocation?
The IPO is a Book Built Issue IPO, and the shares will be listed on NSE SME. The allocation includes Qualified Institutional Buyers (QIBs), retail investors, and Non-Institutional Investors (NII).
What is the change in promoter holding due to the IPO?
Prior to the issue, the company’s shareholding was 83.75%, and after the issue, it will be reduced to 53.83%. This reflects the dilution of the promoter’s and existing shareholders’ ownership as a result of issuing new shares through the public offering.
What are the tentative dates for the Transteel Seating Technologies Limited IPO process?
The IPO opens on Monday, October 30, 2023, and closes on Wednesday, November 1, 2023. The listing date is Thursday, November 9, 2023.