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What is the story about?
The ₹687.34 crore initial public offering (IPO) of Atlanta Electricals opened for subscription on Monday, September 22, and will close on September 24. The transformer manufacturer is attracting decent market interest, with its GMP hovering around 18% above the issue price.
The IPO is a book-built issue, with a price band set at ₹718-754 per share. For retail investors, the minimum bid is 19 shares, requiring an investment of ₹14,326 at the upper end of the band.
The issue comprises a fresh issue of 0.53 crore shares aggregating to ₹400 crore and an offer for sale of 0.38 crore shares aggregating to ₹287.34 crore.
Brokerage firm Anand Rathi Research said the issue is "fully priced" but recommended a 'Subscribe – Long Term' rating for the issue.
The brokerage cited robust order book, product diversification, and favourable sector outlook.
With strong fundamentals, sectoral tailwinds, and institutional interest, Atlanta Electricals' IPO is being closely tracked to see if investor enthusiasm in the grey market translates into a solid debut on the exchanges.
Atlanta Electricals anchor book
The company has raised ₹205 crore from anchor investors, days before its initial share-sale opening for public subscription.
Kotak Mutual Fund (MF), Axis MF, HDFC MF, ICICI Prudential MF and Pinebridge Global Funds are among the anchor investors, according to a circular uploaded on the BSE website.
The company proposes to utilise the proceeds from the issue for payment of debt, supporting working capital requirements of the company and for general corporate purposes.
Company overview
Atlanta Electricals is touted to be one of the leading manufacturers of power, auto and inverter duty transformers in India, in terms of production volume as of fiscal 2025.
They were among the few companies in India, manufacturing transformers up to and including 200 Mega Volt-Amp (MVA) capacity and with 220 kilovolts (kV) voltage prior to the acquisition of BTW-Atlanta Transformers India and the commissioning of their Vadod Unit.
On the earnings front, the company's revenue grew 43% year-on-year in FY25 to ₹1,244 crore, while profit after tax nearly doubled to ₹118.6 crore from ₹63.4 crore in FY24. EBITDA margin improved to 16%, while return on equity came in at a healthy 33.9%.
Motilal Oswal Investment Advisors and Axis Capital are the book-running lead managers to the issue, and MUFG Intime India is the registrar of the issue.
The allotment for the Atlanta Electricals IPO is expected to be finalised on September 25, and shares will be listed on both the NSE and BSE, with the tentative listing date fixed for September 26.
The IPO is a book-built issue, with a price band set at ₹718-754 per share. For retail investors, the minimum bid is 19 shares, requiring an investment of ₹14,326 at the upper end of the band.
The issue comprises a fresh issue of 0.53 crore shares aggregating to ₹400 crore and an offer for sale of 0.38 crore shares aggregating to ₹287.34 crore.
Brokerage firm Anand Rathi Research said the issue is "fully priced" but recommended a 'Subscribe – Long Term' rating for the issue.
The brokerage cited robust order book, product diversification, and favourable sector outlook.
With strong fundamentals, sectoral tailwinds, and institutional interest, Atlanta Electricals' IPO is being closely tracked to see if investor enthusiasm in the grey market translates into a solid debut on the exchanges.
Atlanta Electricals anchor book
The company has raised ₹205 crore from anchor investors, days before its initial share-sale opening for public subscription.
Kotak Mutual Fund (MF), Axis MF, HDFC MF, ICICI Prudential MF and Pinebridge Global Funds are among the anchor investors, according to a circular uploaded on the BSE website.
The company proposes to utilise the proceeds from the issue for payment of debt, supporting working capital requirements of the company and for general corporate purposes.
Company overview
Atlanta Electricals is touted to be one of the leading manufacturers of power, auto and inverter duty transformers in India, in terms of production volume as of fiscal 2025.
They were among the few companies in India, manufacturing transformers up to and including 200 Mega Volt-Amp (MVA) capacity and with 220 kilovolts (kV) voltage prior to the acquisition of BTW-Atlanta Transformers India and the commissioning of their Vadod Unit.
On the earnings front, the company's revenue grew 43% year-on-year in FY25 to ₹1,244 crore, while profit after tax nearly doubled to ₹118.6 crore from ₹63.4 crore in FY24. EBITDA margin improved to 16%, while return on equity came in at a healthy 33.9%.
Motilal Oswal Investment Advisors and Axis Capital are the book-running lead managers to the issue, and MUFG Intime India is the registrar of the issue.
The allotment for the Atlanta Electricals IPO is expected to be finalised on September 25, and shares will be listed on both the NSE and BSE, with the tentative listing date fixed for September 26.
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