Atlanta Electricals Ltd., was subscribed 3.07 times led by non-institutional investors on its second day of bidding on Tuesday. The IPO was subscribed 0.97 times on its first day on Monday. The initial public offering set to raise Rs 687 crore and the price band for the IPO is set between Rs 718 and Rs 754 per share.
The face value per share is Rs 2. 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.
Six existing shareholders, which includes one promoter entity, will sell their shares through the OFS. The IPO will close on Sept. 24. Motilal Oswal Investment Advisors, and Axis Capital are the book-running lead managers, while MUFG Intime India is the registrar of the offer.
To participate in the IPO, retail investors need to bid for a single lot size of a minimum bid of 19 shares, requiring an investment of Rs 14,326.
About The Company
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.
Atlanta Electricals IPO Details
Open date: Sept. 22
Close date: Sept. 24
Allotment date: Sept. 25
Listing date: Sept. 29
IPO size: Rs 687.34 crore
Fresh issue: 53.05 lakh shares amounting to Rs 400 crore.
OFS: 38.10 lakh shares amounting to Rs 287 crore.
Minimum bid: Lot size of 19 shares
Subscription: Day 2
The Atlanta Electricals IPO was subscribed 3.07 times as of 5:00 p.m. on Tuesday.
Institutional investors (QIB): 1.48 times.
Non-Institutional investors (NII): 5.55 times.
Retail investors: 2.94 times.
Employee Reserved: 1.43 times.
Atlanta Electricals: IPO GMP
The latest grey market premium of Atlanta Electricals is Rs 120 as of 7:36 p.m. according to Investorgain.com. The stock's estimated listing price is Rs 874, implying a gain of 15.92% over the IPO price of Rs 754.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
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