Atlanta Electricals Ltd. was subscribed 70.63 times as of 7:00 p.m. on Wednesday for its final day of subscription. The IPO 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 sought to raise Rs 687 crore and the price band for the IPO was set between Rs 718 and Rs 754 per share.
The face value per share was Rs 2. The IPO comprised 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, sold their shares through the OFS. The IPO will close today. Motilal Oswal Investment Advisors, and Axis Capital were the book-running lead managers, while MUFG Intime India is the registrar of the offer.
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.
Subscription: Day 3
The Atlanta Electricals IPO was subscribed 70.63 times as of 7:00 p.m. on Wednesday.
Institutional investors (QIB): 194.92 times.
Non-Institutional investors (NII): 54.21 times.
Retail investors: 10.42 times.
Employee Reserved: 3.29 times.
Atlanta Electricals: IPO GMP
The latest grey market premium of Atlanta Electricals is Rs 116 as of 7:02 p.m. according to Investorgain.com. The stock's estimated listing price is Rs 870, implying a gain of 15.38% 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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