Shares Of Atlanta Electricals To Debut Today; Check Latest GMP Ahead Of Listing

Shares of Atlanta Electricals will be listed on the BSE and NSE on September 29. The allotment of shares was made on September 25, while the subscription window was open from September 22 to September 24.

The issue was oversubscribed 70.63 times. It received bids for 46,17,87,742 shares against 65,38,439 offered.

Ahead of its listing on Monday, the unlisted shares of the company are in the news today after the latest grey market premium suggested a positive listing for the Gujarat-based transformer company. Here's all the latest news surrounding the listing of Atlanta Electricals IPO.

The GMP for the Atlanta Electricals IPO was Rs 114 as of 8:15 a.m. on September 29. This indicates a listing price of Rs 868 per share at a premium of 15.12% on the upper limit of the price band.

This means the unlisted shares of the company were trading at Rs 868 in the private market ahead of listing on Monday. Investors can expect a potential gain of up to 15% when shares debut on the BSE and NSE today.

Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.

The Atlanta Electricals IPO was a book build issue of Rs 687.34 crore. It comprises a fresh issue of 53 lakh shares amounting to Rs 400 crore and an offer-for-sale (OFS) of 38 lakh shares worth Rs 287.34 crores.

The price band for the IPO was set between Rs 718 and Rs 754 per share. Retail investors needed to bid for a single lot size of 19 shares, leading to an investment of Rs 14,326.

The transfer of shares to the demat accounts of successful bidders was completed by September 27. Refunds for non-allottees was also done on the same day.

Motilal Oswal Investment Advisors Ltd. was the book-running lead manager and MUFG Intime India Ltd. was the registrar for the issue.

The company will use proceeds from the IPO to clear debt, fund working capital requirements and for general corporate purposes.

Atlanta Electricals is a manufacturer of power, auto and inverter duty transformers. It has three manufacturing facilities, two in Gujarat and one in Karnataka. 

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.