Atlanta Electricals IPO Day 2 update: Subscription up 2x, NIIs lead demand

Atlanta Electricals received bids for 14.73 million shares against 6.5 million shares on offer, resulting in an overall subscription of 2.25 times, as of 02:15 PM on Tuesday, September 23, 2025

Atlanta Electricals IPO Day 2 subscription status: The initial public offering (IPO) of transformer manufacturer Atlanta Healthcare continues to see decent demand on the second day of the offer in the primary market. 

 

The mainline offering received bids for 14.73 million shares against 6.5 million shares on offer, resulting in an overall subscription of 2.25 times, as of 02:15 PM on Tuesday, September 23, 2025, according to NSE data. 

 

The non-institutional investors (NIIs) category received 3.49 times subscription, while the quota reserved for retail investors got subscribed 2.19 times. However, the Qualified Institutional Buyers (QIBs) portion received 1.46 times the subscription.

 

 

Ahead of the IPO, Atlanta Electricals raised ₹205 crore from anchor investors. Kotak Mutual Fund (MF), Axis MF, HDFC MF, ICICI Prudential MF and Pinebridge Global Funds participated in the anchor round. The company has allotted 2.71 million equity shares to anchor investors at ₹754 per share.

Atlanta Electricals IPO review

Analysts at Anand Rathi Research Team have recommended that investors subscribe to the public issue of Atlanta Electricals IPO for the long-term perspective. Geojit have also recommended that investors subscribe to the issue, saying that strong fundamentals, healthy return ratios, capacity expansion, robust order book, and strategic initiatives support its valuation.  ALSO READ: Anand Rathi Share IPO opens today: GMP up 7%; should you subscibe?

Atlanta Electricals IPO GMP

According to platform tracking grey market activity, the unlisted shares of Atlanta Electricals were trading at a premium of ₹110 or 14.6 per cent, indicating a listing price of around ₹864 against the issue price of ₹754.

Here are the key details of Atlanta Electrical's IPO:

The ₹687.34 crore public issue will close for bidding on Wednesday, September 24. The basis of allotment of shares is expected to be finalised on Thursday, September 25. Shares of Atlanta Electricals will be listed on the National Stock Exchange (NSE) and BSE, tentatively on Monday, September 29.

 

The price band has been set in the range of ₹718 to ₹754. At the upper end of the price band, a retail investor would require a minimum investment amount of ₹14,326 to bid for one lot of 19 shares.

 

MUFG Intime India is the registrar of the issue. Motilal Oswal Investment Advisors and Axis Capital are the book-running lead managers.

 

According to the red herring prospectus (RHP), the company plans to use the net proceeds from the fresh issue for repayment of debt, funding working capital requirements, and general corporate purposes.

About Atlanta Electricals

Incorporated in December 1988, Atlanta Electricals manufactures power, auto and inverter duty transformers in India. As of March 31, 2025, the company's portfolio comprises six products, including power transformers, inverter-duty transformers, furnace transformers, generator transformers, and special-duty transformers. The company serves customers in 19 states and three union territories across India, supplying 4,400 transformers totalling 94,000 MVA to state and national grids, private players, and major renewable energy projects. The company operates five manufacturing facilities, out of which four are functional, two located at Anand, Gujarat, and one in Bengaluru, Karnataka, and Vadod Unit has commenced commercial production in July 2025.