Atlanta Electricals IPO price band has been fixed in the range of ₹718 to ₹754 per equity share of the face value of ₹2. The Atlanta Electricals IPO date of subscription is scheduled for Monday, September 22 and will close on Wednesday, September 24. The allocation to anchor investors for the Atlanta Electricals IPO is scheduled to take place on Friday, September 19.
The floor price and the cap price are 359 times and 377 times the face value of the equity shares, respectively. The Atlanta Electricals IPO lot size is 19 equity shares and in multiples of 19 equity shares thereafter.
Atlanta Electricals IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. A discount of ₹70 per equity share is being offered to eligible employees in the employee reservation portion.
Tentatively, Atlanta Electricals IPO basis of allotment of shares will be finalised on Thursday, September 25 and the company will initiate refunds on Friday, September 26 while the shares will be credited to the demat account of allottees on the same day following refund. Atlanta Electricals share price is likely to be listed on BSE and NSE on Monday, September 29.
Atlanta Electricals IPO details
The Atlanta Electricals IPO consists of fresh issue of equity shares aggregating upto ₹400 crore and offer for sale of up to 3,810, 895 equity shares.
The firm plans to allocate the net proceeds from the new issue to support the following objectives: repaying or prepaying, either wholly or partially, specific existing borrowings taken by the company; addressing the company’s working capital needs; and covering general corporate purposes.
Motilal Oswal Investment Advisors Ltd. serves as the book running lead manager, while MUFG Intime India Pvt. Ltd. functions as the registrar for the issue.
Company Details
Atlanta Electricals Limited specializes in the production of power, auto, and inverter duty transformers in India.
As of September 30, 2024, the company offers a range of six products: power transformers, inverter-duty transformers, furnace transformers, generator transformers, and transformers for special applications.
As of September 30, 2024, the company caters to clients in 19 states and three union territories across India, delivering 4,000 transformers with a total capacity of 78,000 MVA to state and national power grids, private entities, and significant renewable energy projects.
The company operates three manufacturing plants, with two situated in Anand, Gujarat, and one in Bengaluru, Karnataka.
As of September 30, 2024, the company has built a diverse customer base of 208 clients, including GETCO, Adani Green Energy, TATA Power, and SMS India.
The company has also exported its transformers to nations such as the United States, Kuwait, and Oman.
As of September 30, 2024, the workforce comprises 301 employees across various departments.
As per the draft red herring prospectus (DRHP), the company’s listed peers are Voltamp Transformers Ltd (with a P/E of 27.51), Transformers and Rectifiers India Ltd (with a P/E of 274.26), and Danish Power Ltd (with a P/E of 34.16).