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Voltamp Transformers Limited IPO

Mainboard NSE & BSE Industrials Listed
Min Investment
₹6,900
20 shares · 1 lot

Voltamp Transformers Limited is an Indian manufacturer of customised energy-efficient transformers. Its products include oil-filled power and distribution transformers up to 220 kV, dry-type transformers, compact substations and ring main units. The company also provides maintenance, testing, repair, overhaul and spare-parts services.

Open
24 Aug
Close
29 Aug
Allotment
TBA
Refund
TBA
Listing
20 Sep

Market Sentiment

Grey Market Premium

No GMP data recorded yet for this IPO.

GMP is an informal, unregulated grey-market figure. It is not a guaranteed listing price and can move sharply during the bidding window.

Subscription

17.65x
Overall subscription
QIB 25.00x
NII 23.00x
Retail 6.00x

IPO Details

Price Band ₹295 - ₹345 per share
Lot Size20 shares
Min Investment₹6,900
Face Value₹10
Total Issue Size ₹168.49 crore
Offer for Sale₹168.49 crore
Issue TypeBook Built
Lead Manager(s)Enam Financial Consultants Private Limited
RegistrarIntime Spectrum Registry Limited
Listing AtNSE & BSE

Financial Analysis

EPS
₹321.65
P/E
14.9 x
RoE
22.13%
RoCE
27.21%
Net Worth
₹1587.62 Cr
Metric 2024-25
Revenue 1,934.23
EBITDA 356.11
Profit After Tax 325.41
Net Worth 1,587.62
EPS 321.65
Figures in ₹ crore unless stated otherwise (INR).

Valuation Metrics

Issue P/E
14.9 x
Price / Book
5.02
RoNW
33.14%
Mkt Cap
₹349.04 Cr
Book Value
₹69

Objects of the Issue

PurposeAmount (₹ Cr)%
Achieve the benefits of listing the equity shares on BSE and NSE and provide liquidity and a public market for the shares.00
Offer for sale by the selling shareholders; the company did not receive any proceeds from the offer.168.49100

Strengths & Risks

Strengths

  • Established transformer manufacturer with operations originating in 1963 and an extensive installed base in India and overseas.
  • Diversified product portfolio covering oil-filled power and distribution transformers, dry-type transformers, compact substations, ring main units and after-sales services.
  • Strong relationships with large industrial customers, public-sector undertakings, multinational companies, utilities and engineering, procurement and construction contractors.
  • Manufacturing and in-house testing capabilities across multiple facilities in Gujarat.
  • Technical expertise in cast-resin dry-type transformers supported by technology transfer from HTT, Germany.
  • Debt-free balance sheet and substantial investment and liquidity position.

Risks & Concerns

  • Demand is dependent on capital expenditure and investment cycles in power, infrastructure and core industrial sectors.
  • Transformer manufacturing requires substantial quantities of copper, aluminium, electrical steel and transformer oil, exposing margins to raw-material price volatility.
  • Delays in customer projects, inspections, dispatch clearances or order execution can affect revenue recognition and working capital.
  • Dependence on key industrial and institutional customers may create customer-concentration and order-book risks.
  • Competition from domestic and international transformer manufacturers may affect pricing, order inflows and margins.
  • Product failures, warranty claims or failure to meet technical and quality specifications could result in financial and reputational losses.
  • The IPO was entirely an offer for sale, and the company received no proceeds for business expansion or working capital.
Summarised from the company's own DRHP/RHP disclosures. Informational only, not investment advice — always read the full prospectus before applying.

Listing Performance

Issue Price
₹345
Listing Price
₹399
Listing Gain
+15.7%
Day High
₹431
Day Low
₹375
Day Close
₹417

Post-Listing Returns

Current Price
₹9,180
All-Time High
₹14,800
All-Time Low
₹265
1 Month
+0.0%
1 Year
+0.0%
Since IPO
+2560.9%

Corporate Actions

Dividends

AnnouncedTypePer Share (₹)%
05 May 2026Final1001,000
05 May 2025Final1001,000
02 May 2024Final90900
25 May 2023Final40400
26 May 2023Special20200
25 May 2022Final35350
25 Jun 2021Final25250
04 May 2020Interim25250
29 May 2019Final15150
30 May 2019Special7.575
10 May 2018Final15150
15 May 2017Final15150
31 May 2016Final12.5125
20 May 2015Final10100
06 May 2014Final10100
17 May 2013Final15150
21 May 2012Final10100
01 Jun 2011Final990
10 May 2010Final12.5125
14 May 2009Final12.5125

Shareholding Pattern

QuarterPromotersFIIDIIPublic
2026-06-303021.5333.8514.55

Peer Comparison

CompanyMkt Cap (₹ Cr)P/ERoEEPS
Voltamp Transformers Limited9,27130.4118.07301.85

Company Information

Voltamp Transformers Limited is an Indian manufacturer of customised energy-efficient transformers. Its products include oil-filled power and distribution transformers up to 220 kV, dry-type transformers, compact substations and ring main units. The company also provides maintenance, testing, repair, overhaul and spare-parts services.

ISININE540H01012
CINL31100GJ1967PLC001437
Incorporated02 Mar 1967
IndustryElectrical Equipment
HeadquartersVadodara, Gujarat
Websitehttps://www.voltamptransformers.com

Company Timeline

Latest
24 Jul 2026
FY2025-26 dividend ex-date
Shares traded ex-dividend for the INR 100 per-share final dividend.
05 May 2026
FY2025-26 results and dividend
The board approved FY2025-26 audited results, recommended a final dividend of INR 100 per share and approved INR 25 crore for acquisition of land near Vadodara.
06 Aug 2025
Credit ratings reaffirmed
CARE reaffirmed CARE AA; Stable and CARE A1+ ratings for the company's bank facilities.
28 Aug 2024
All-time high
The equity share recorded an all-time high price of INR 14,800.
20 Aug 2021
Amalgamation effective
The NCLT order was filed with the Registrar of Companies and the amalgamation became effective.
16 Aug 2021
NCLT approval
NCLT Ahmedabad sanctioned the amalgamation of Kunjal Investments Private Limited with Voltamp Transformers Limited.
01 Jun 2020
Amalgamation appointed date
Appointed date under the amalgamation scheme with Kunjal Investments Private Limited.
11 May 2020
Amalgamation approved by board
The board approved a scheme to amalgamate Kunjal Investments Private Limited with Voltamp Transformers Limited.
20 Sep 2006
Stock-market listing
Equity shares listed on NSE and BSE, opening at INR 399 and closing at INR 417.05.
29 Aug 2006
IPO closed
The IPO closed with an offer price fixed at INR 345 per equity share.
24 Aug 2006
IPO opened
The book-built offer for sale opened at a price band of INR 295 to INR 345 per equity share.
01 Jan 1967
Incorporation
Voltamp Transformers Limited was incorporated in Gujarat after conversion of the erstwhile Voltamp Corporation partnership business.

Board of Directors

NameDesignationIndependent
Kanubhai S. PatelChairman and Managing DirectorNo
Kunjalbhai L. PatelVice Chairman and Managing DirectorNo
Taral K. PatelNon-Executive DirectorNo
Sameer S. KheraIndependent DirectorYes
Roopa B. PatelIndependent Woman DirectorYes
Mayur K. SwadiaIndependent DirectorYes

Resources & Documents

Latest News

Frequently Asked Questions

What was the Voltamp Transformers IPO issue price?

The IPO offer price was INR 345 per equity share, at the upper end of the INR 295-345 price band.

When did Voltamp Transformers list on the stock exchanges?

Voltamp Transformers listed on NSE and BSE on 2006-09-20.

What was the listing gain for Voltamp Transformers?

The stock opened at INR 399, representing a 15.65% gain over the INR 345 issue price.

What are the NSE symbol, BSE code and ISIN of Voltamp Transformers?

The NSE symbol is VOLTAMP, the BSE code is 532757 and the ISIN is INE540H01012.

Has Voltamp Transformers issued bonus shares or split its stock?

No verified bonus issue or stock split has been identified since its 2006 listing.

What was the latest declared dividend?

The company recommended a final dividend of INR 100 per equity share for FY2025-26, with an ex-dividend date of 2026-07-24.

Is Voltamp Transformers debt-free?

Reported market data indicates a debt-to-equity ratio close to zero.

Who are the promoters of Voltamp Transformers?

The promoter group includes members of the Patel family, with aggregate promoter shareholding of approximately 30% as of 2026-06-30.

What merger has Voltamp Transformers completed?

Kunjal Investments Private Limited was amalgamated with Voltamp Transformers Limited under an NCLT-approved scheme that became effective on 2021-08-20.

What products does Voltamp Transformers manufacture?

The company manufactures oil-filled power and distribution transformers, dry-type transformers, compact substations, ring main units and related service products.

Last verified: 26 Jul 2026. Figures are indicative and may change; verify with official exchange filings before investing.