Transteel Seating Technologies Ltd

(TRANSTEEL)

Transteel Seating Technologies Ltd. was originally incorporated on February 08 1995 as a Private Limited Company as Transteel Seating Technologies Private Limited with the Registrar of Companies Karnataka Bangalore. Later in year 2022 the Company got converted to Public Limited Company and name of the Company has been changed to Transteel Seating Technologies Limited through a Fresh Certificate of Incorporation upon Conversion on April 19 2023 by Registrar of Companies Bangalore.In 1995 the Company started Manufacturing Ergonomic Furniture to cater to the needs of the Indian IT companies that were being setup in and around Bangalore.Thereafter it moved to larger factory to address growing demands of the IT Sector in 1997. Later it expanded to Chennai in 2001 through diversification. The Company acquired more corporate accounts like IBM Sony SBI etc. and put in work on a Pan India basis during period 20062017. During 2018 it moved to a 2.5 acre fully integrated Manufacturing facility and opened a branch in Mumbai in 2020.Transteel a furniture provider has been catering to businesses of all sizes for over two decades. However in 2019 took a considerable leap by adopting a digitalfirst approach transforming the way customers engage with the brand. This shift has made it convenient for customers to browse and purchase diverse range of furniture online. With this the Company has developed skill and expertise in making chairs office furniture and other residential and commercial furniture. Over the years it continued to focus on craft performance oriented Tables and Chairs. These furniture solutions are a mix of design value and ergonomics which ensure that ones back stays in good shape day after day. It has developed the in house Technical Design Team to provide turnkey solution and implementation of interior and work space in Commercial Residential and Educational Institutions.The Company has its manufacturing facility situated at Yeswantpur Bangalore. It outsource the mould of products to vendors for preparing them as per requirements these mould are then given to Injection moulding vendors to mould the part of products. Once the parts ready they are sourced to factory where they developed assembly lines to assemble each product. Also some products are manufactured in factory itself.Recently Company has acquired a property measuring 2100 Sq. ft. from the Promoters of Company by issuing shares to the Promoters. The Company is in process of converting the said property into a showroom for its products. Since the property along with land belongs to the Company and is situated in a renowned area of Bangalore hence it plans on opening a showroom at the said property.The Company is proposing an Initial Public Offering aggregating upto 7228800 Equity Shares comprising a Fresh Issue of 6867200 Equity Shares and the Offer for Sale upto 361600 Equity Shares..

Share Price: ₹62.40 per share as on 21 Oct, 2024 04:01 PM
Market Capitalisation: ₹126.42Cr as of today
Listing date: 06 Nov, 2023