TRANSTEEL SEATING TECH L Share price

Transteel Seating Technologies Limited was originally incorporated on February 08, 1995 as a Private Company as 'Transteel Seating Technologies Private Limited' with the Registrar of Companies, Karnataka, Bangalore. Later in 2022, the Company got converted to Public Limited and name of the Company was changed to Transteel Seating Technologies Limited' on April 19, 2023 at 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 2006-2017. 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 digital-first 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 2,100 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. On November 1, 2023, Company launched the IPO by issuing an aggregate of 71,40,000 equity shares of Rs 10 each, by raising funds aggregating to Rs 49.98 crores, comprising a fresh issue of 67,84,000 equity shares amounting to Rs 47.49 crore and the offer for sale of 3,56,000 equity shares amounting to Rs 2.49 crore. During the year 2024-25, Company amended the Object Clause of Memorandum of Association with its long-term strategic goals and diversification plans. This alteration, approved by the shareholders at the Extraordinary General Meeting held on January 22, 2025, and duly filed with the Registrar of Companies, enables the Company to expand into project management, design and development services, and digital solutions tailored to the construction and real estate sectors. This strategic move positions the Company to offer a broader range of services, including consultancy, execution, and technology-driven solutions, to meet the evolving demands of commercial, residential, and infrastructure projects.