ATC Energies shares list at 9% discount, misses IPO GMP estimates

ATC Energies was a book-built issue of ₹63.76 crore, comprising a fresh issue of 4.32 million equity shares and OFS of 1.08 million shares aggregating to ₹12.74 crore

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Shares of battery maker ATC Energies made a negative debut on the NSE SME platform on Wednesday, April 2, 2025. The company's stock listed at ₹107 per share on the NSE Emerge, down over 9.3 per cent from the issue price of ₹118 per share.

 

The listing of ATC Energies was below the grey market estimates. Ahead of the listing, unlisted shares of ATC Energies were trading at ₹122 per share in the grey market, according to the sources tracking unofficial markets. 

 

ATC Energies IPO details

ATC Energies was a book-built issue of ₹63.76 crore, comprising a fresh issue of 4.32 million equity shares, and offer for sale (OFS) of 1.08 million shares aggregating to ₹12.74 crore.  

 

ATC Energies was available for subscription from Tuesday, March 25, 2025, till Thursday, March 27, 2025, at a price band of ₹112-118 per share, with a lot size of 1,200 shares. 

 

The SME IPO received a muted response from investors, with the issue being oversubscribed by only 1.61 times. Retail investors led the demand and oversubscribed the portion reserved for them by 2.49 times. Qualified institutional buyers (QIBs) subscribed for 1.38 times the reserved quota, and non-institutional investors (NIIs) subscribed for 0.81 times. 

 

The basis of the allotment of company's shares was finalised on Friday, March 28, 2025. 

 

According to the red herring prospectus (RHP), the company aims to utilise the net proceeds from the fresh issue for repayment and /or prepayment, in full, of the borrowing availed by the company to purchase its Noida factory including land and building. In addition, the company plans to use the proceeds to fund the capital expenditure requirement towards refurbishment, civil and upgradation works at its Noida factory, and the capital expenditure requirement towards IT upgradation at its Noida factory, Vasai factory and registered office. The remaining funds will be used to meet working capital requirements and general corporate purposes.

 

About ATC Energies

Incorporated in 2020, ATC Energies System manufactures lithium and li-ion batteries. With factories in Vasai, Thane, and Noida (NCR), the company used advanced technology and quality testing infrastructure over a combined area of 3,160 sq. mt. Initially supplying mini batteries for the banking industry, ATC Energies has expanded its product range to include batteries of all sizes for various industries.