Atlanta Electricals Ltd. is set to launch its initial public offering on Monday to raise Rs 687 crore. 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 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.
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
Atlanta Electricals IPO: Use Of Proceeds
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.
About Atlanta Electricals
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.
Financial Performance
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 top line of Rs 573.89 crore for the six-month period and Rs 872 crore for the fiscal year ended March. Similarly, the firm reported a profit of Rs 87.54 crore and Rs 55.3 crore.
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