TMC Transformers files papers with Sebi for Rs 550 crore IPO

TMC Transformers filed a Draft Red Herring Prospectus with Sebi for a Rs 550 crore IPO, entirely a fresh issue with no Offer For Sale component. Proceeds will fund a greenfield Extra High Voltage transformer manufacturing facility in Halol, Gujarat with 78,000 MVA installed capacity, incremental working capital, and general corporate purposes. The company may also undertake a pre-IPO placement of up to Rs 110 crore before filing the Red Herring Prospectus.