Atlanta Electricals Ltd., a prominent transformer manufacturer, has successfully raised Rs 204.70 crore from anchor investors, setting the stage for its upcoming Initial Public Offering (IPO). The company allotted 27.15 lakh shares to 15 anchor investors at Rs 754 per share, the upper end of its IPO price band.

Anchor Investment Highlights

The anchor book saw strong participation from domestic mutual funds and institutional investors. Here's a breakdown of the major allocations:

Notably, five domestic mutual funds, applying through eight schemes, secured a significant 58.62% of the anchor portion, demonstrating strong institutional interest in the company.

IPO Details

Atlanta Electricals is set to launch its IPO to raise up to Rs 687 crore. The key details of the offering are:

• Price Band: Rs 718-754 per share
• Fresh Issue: Rs 400 crore
• Offer-for-Sale: Rs 287 crore

Fund Utilization

The company has outlined clear objectives for the funds raised through the fresh issue:

• Rs 210 crore for capital expenditure
• Rs 79.1 crore for debt repayments and working capital

Company Overview

Atlanta Electricals operates manufacturing facilities in Gujarat and Karnataka, catering to clients across 19 states and three union territories in India. The company's recent financial performance highlights its growth trajectory:

The company's strong financial performance and strategic expansion plans have likely contributed to the robust interest from anchor investors. As Atlanta Electricals prepares to go public, the market will be watching closely to see how this established player in the electrical equipment sector performs in the public domain.

Gujarat-based transformer manufacturer Atlanta Electricals Ltd. has announced the details of its Initial Public Offering (IPO), set to open on September 22. The company aims to raise Rs 687.00 crore through this public issue, marking a significant milestone in its over three-decade journey in the electrical equipment sector.

IPO Structure and Pricing

The IPO comprises two components:

• A fresh issue of shares worth Rs 400.00 crore
• An offer for sale (OFS) of equity shares valued at Rs 287.00 crore

Atlanta Electricals has set the price band for its IPO at Rs 718-754 per share. Investors can participate with a minimum bid of 19 shares.

Key Dates

The company will be listed on both NSE and BSE.

About Atlanta Electricals

With over 30 years of experience in the transformer manufacturing industry, Atlanta Electricals has established a strong presence across India. The company operates manufacturing facilities in Gujarat and Karnataka, serving clients in 19 states and three union territories. Notably, state electricity companies constitute 82% of the company's order book, highlighting its strong position in the public sector electrical equipment market.

Utilization of IPO Proceeds

The company has outlined plans for the funds raised through the fresh issue:

• Rs 210.00 crore allocated for capital expenditure
• Rs 79.10 crore earmarked for debt repayment

This allocation suggests Atlanta Electricals' focus on expanding its production capabilities while also improving its financial position.

Lead Managers

Atlanta Electricals has appointed two firms as merchant bankers for the IPO:

1. Motilal Oswal Investment Advisors
2. Axis Capital

These financial institutions will guide the company through the IPO process, ensuring compliance with regulatory requirements and facilitating the public offering.

Investor Considerations

As Atlanta Electricals prepares to enter the public market, potential investors may consider the company's established market presence, geographical reach, and strong order book dominated by state electricity companies. The IPO presents an opportunity to invest in a company with a significant footprint in India's electrical equipment sector.

Investors are advised to review the company's prospectus and consult with financial advisors to make informed decisions based on their individual investment goals and risk tolerance.