Atlanta Electricals Unveils Rs 687-Crore IPO, Set to Open on September 22
Atlanta Electricals Ltd., a Gujarat-based transformer manufacturer, is launching its IPO to raise Rs 687 crore. The offering includes a fresh issue of Rs 400 crore and an OFS of Rs 287 crore, with a price band of Rs 718-754 per share. The IPO opens on September 22 and closes on September 24, with listing scheduled for September 29 on NSE and BSE. The company, with over 30 years in the industry, plans to use the funds for capital expenditure and debt repayment. State electricity companies make up 82% of its order book.
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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
| Event | Date |
|---|---|
| Opening Date | September 22 |
| Closing Date | September 24 |
| Share Allotment | September 25 |
| Listing Date | September 29 |
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:
- Motilal Oswal Investment Advisors
- 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.
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