Even before opening, Atlanta Electricals created strong market buzz, having raised ₹205 crore from anchor investors including big names like Kotak MF, Axis MF, HDFC MF, ICICI Prudential MF, and Pinebridge Global Funds.
IPO Structure
The IPO is a book-built issue, comprising:
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Fresh Issue: 5.3 million shares (~₹287.34 crore)
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Offer for Sale (OFS): 3.8 million shares (~₹400 crore)
Reservation split as per SEBI norms:
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QIBs: up to 50%
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Retail investors: at least 35%
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NIIs: at least 15%
Price Band and Lot Size
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Price Band: ₹718 – ₹754 per share
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Lot Size: 98 shares
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Minimum Investment: ₹14,326 (1 lot)
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Maximum for Retail Investors: 13 lots (₹1.86 lakh approx.)
Grey Market Premium (GMP) Today
Atlanta Electricals IPO is enjoying a healthy premium in the unofficial market. As of today, shares are trading at around ₹896 apiece, implying a GMP of ₹142.
👉 This translates into a potential 19% listing gain over the upper price band of ₹754.
Important Dates
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Issue Closes: September 24
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Basis of Allotment: September 25
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Demat Credit & Refunds: September 26
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Listing on NSE & BSE: September 29
About the Company
Founded as a leader in transformer manufacturing, Atlanta Electricals (AEL) has built a strong reputation in power, auto, furnace, inverter-duty, and generator transformers.
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Manufacturing Strength: 5 plants with a combined installed capacity of 63,060 MVA
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Product Portfolio: 6 categories of transformers with capacity up to 200 MVA and voltage ratings up to 220 kV
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Clients: Well-diversified across industries and geographies
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Order Book: Robust, ensuring future revenue visibility
Use of IPO Proceeds
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Fresh issue proceeds will be used for:
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Repayment/prepayment of borrowings
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Working capital
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General corporate purposes
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OFS proceeds will go to selling shareholders.
Should You Subscribe?
Analysts are cautiously optimistic about the IPO:
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Strong order book gives stability and growth visibility
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Advanced manufacturing facilities and a diverse customer base support resilience
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At the upper price band, valuation comes at P/E 48.8x (FY25 earnings), with EV/EBITDA 30.1x → IPO appears fully priced
Our Take
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For listing gains: With a 19% GMP, Atlanta Electricals IPO may deliver decent short-term upside if grey market sentiment holds.
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For long-term investors: Despite being fully priced, the company operates in a crucial sector (power infrastructure), backed by strong order flow and advanced manufacturing. This makes it an attractive long-term growth story.
