Atlanta Electricals Raises Rs 205 Crore From Anchor Investors Prior To IPO Launch

Atlanta Electricals Ltd. has raised Rs 204.70 crore from anchor investors on Friday, ahead of its initial public offering. The company allotted 27.15 lakh shares at Rs 754 apiece to 15 anchor investors.

ICICI Prudential Energy Opportunities Fund got the highest allocation of 17.10%. Ashoka Whiteoak ICAV- Ashoka Whiteoak India Opportunities Fund got the second highest allotment of 12.21% and HDFC Mutual Fund- HDFC Manufacturing Fund got 11.40% stake in the company.

Five domestic mutual funds have applied through eight schemes, the transformers manufacturers said in an exchange filing on Friday. They have collectively netted 58.62% of the anchor portion. Kotak Mutual Fund, Axis Mutual Fund and HDFC Mutual Fund were among the major fund houses in this category.

Motilal Oswal Investment Advisors, and Axis Capital are the book running lead managers, while MUFG Intime India is registrar of the offer.

The company will launch its initial public offering on Monday to raise up to Rs 687 crore. The company has set a price band of Rs 718-754 per share for its three-day IPO. The IPO comprises a fresh issue of shares worth Rs 400 crore and an offer-for-sale component worth Rs 287 crore consisting of 38 lakh shares.

The company will utilise Rs 210 crore of the proceeds for capital expenditure and Rs 79.1 crore for debt repayments as well as supporting working capital requirements for the firm and for general corporate purposes.

Atlanta Electricals manufactures transformers and is based in Gujarat. The company has over three decades of experience in designing and producing power, auto, and inverter duty transformers. The company operates multiple manufacturing facilities in Gujarat and Karnataka. It supplies to a wide range of public and private sector clients across 19 states and three union territories.

The company’s profit after tax for the period stood at Rs 51.72 crore for the six-month period ended Sept. 30, 2024, and RS 63.52 crore for the year ended March 31, with a topline of Rs 573.89 crore for the six-month period and Rs 872.04 for the year ended March. Similarly, the firm reported a profit of Rs 87.54 crore and Rs 55.3 crore.