Transteel Seating Technologies Ltd Company is a leading manufacturer of office furniture in India, offering customized solutions. The Indian office furniture market, worth $5.41 billion in 2022, is expected to grow at 15% by 2030. The sector is fueled by favorable demographics, skilled workforce, and reduced dependency on Chinese imports. Global peers include Steelcase, HNI, and Hayworth.
Transteel Seating Technologies Ltd’s IPO is scheduled to begin on October 30, 2023, and conclude on November 1, 2023, with an issue size of 49.98 crores, including 67,84,000 Fresh Issue Equity Shares and 3,56,000 Offer for Sale shares, with the Anchor Allocation scheduled for October 27, 2023. Lead Manager to the issue is Gretex and Pantomath Group. Net proceeds from IPO Funds will be utilized for Capex (14.89 crs), Working Capital (20 crs), Repayment of Debt (6.65 cr) and balance for general purpose and unidentified inorganic acquisitions.
Transteel, a company with a 37% CAGR in revenue over the past three years, reported a total revenue of Rs. 59.47 cr. in 2022-23 and Rs. 27.98 cr. in 2021-22. The company’s growth is attributed to the end of corporate work-from-home policies, making it well-positioned to meet the increasing demand for office furniture.