Atlanta Electricals initial public offering (IPO) drew decent demand on the opening day of bidding, September 22, with investors applying for 63.86 lakh shares against the total issue size of 64 lakh shares. This left the IPO almost entirely subscribed by the close of Day 1, according to exchange data.
Non-institutional buyers showed healthy interest, with their portion subscribed 1.03 times, while the retail investors’ portion was booked 1.01 times. The QIB (Qualified Institutional Buyers) portion was also fully booked.
The company aims to raise ₹687 crore through the offering, which is a combination of a fresh issue of 0.53 crore shares aggregating to ₹400 crore and an offer for sale of 0.38 crore shares aggregating to ₹287.34 crore.
The IPO price band is set at ₹718 to ₹754 per share. Retail investors can apply for a minimum of 19 shares in one lot and can apply for up to 13 lots. At the upper end of the IPO price band, ₹754 apiece, retail investors are required to make a minimum investment of ₹14,326 per lot.
The company proposes to use the proceeds from the issue towards debt repayment, funding working capital requirements, and general corporate purposes. The allotment of shares is expected to be finalized on September 25, 2025, with a tentative listing on both the BSE and NSE scheduled for Monday, September 29, 2025.
Motilal Oswal Investment Advisors is the book-running lead manager, and MUFG Intime India is the registrar of the issue.
GMP signals healthy listing
As of today, the grey market premium (GMP) for Atlanta Electricals IPO stands at ₹141 per share. This suggests that the shares are anticipated to list 18.7% higher than the company’s upper band issue price of ₹754.
The grey market premium represents the expected difference between an IPO’s issue price and its anticipated listing price in the unofficial market. However, it’s important to remember that GMP is a preliminary indicator and should not be the sole factor in making investment decisions.
About Atlanta Electricals
The company claims that it is one of the leading manufacturers of power, auto, and inverter duty transformers in India in terms of production volume as of Fiscal 2025. With a pan-India presence and over 30 years of operations in the transformer manufacturing industry, it supplies a wide range of transformers, starting from 5 MVA/11 kV up to 200 MVA/220 kV.
As of March 31, 2025, the company has a customer base across 19 states and three union territories in India, having supplied 4,400 transformers aggregating to 94,000 MVA to various state and national electricity grids, private sector players, prominent renewable energy generation projects, and construction companies.
At the end of FY25, the company’s order book stood at ₹16,429 million, with public sector projects accounting for the majority at 82.08%, while the remaining orders came from the private sector.
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