Atlanta Electricals IPO posts positive debut; shares list at 14% premium

Atlanta Electricals Share Price: Atlanta Electricals shares listed at ₹858.10, a premium of ₹104.10 per share or 13.81 per cent over the issue price of ₹754 per share

Atlanta Electricals share price: Shares of inverter-duty transformers manufacturing company, Atlanta Electricals made a solid S-Street debut today, September 29, following the successful completion of its initial public offering (IPO).

 

Atlanta Electricals shares listed at ₹858.10, a premium of ₹104.10 per share or 13.81 per cent over the issue price of ₹754 per share. On the National Stock Exchange, the company's shares began trading at a slightly lower premium of ₹103 per share or 13.66 per cent, at ₹857 per share over the issue price.

 

Atlanta Electricals IPO listing came slightly below the grey market estimates. Ahead of their market debut, the unlisted shares of the company were quoted exchanging hands at around ₹868 per share, reflecting a grey market premium (GMP) of ₹114 or 15.12 per cent over the upper end of the issue price.

 

Atlanta Electricals IPO details

Atlanta Electricals IPO comprised a fresh issue of 5.3 million shares worth ₹287.34 crore, with an offer for sale (OFS) with promoters and shareholders selling 3.8 million equity shares worth ₹287.34 crore. Offered at a price band of ₹718-754 per share, with a lot size of 98 shares, the issue received overwhelming demand among the investors with the issue getting oversubscribed by 70.63 times.

 

Atlanta Electricals will not receive any proceeds from the OFS and it will be given to the selling shareholders as their respective portion of the proceeds after deducting their proportion of offer expenses and relevant taxes thereon.

 

The company, however, will utilise the proceeds from the fresh issue for repayment/prepayment, in full or in part, of certain outstanding borrowings availed, and funding working capital requirements. The company will further deploy the proceeds for general corporate purposes.

About Atlanta Electricals

Atlanta Electricals is the manufacturer of power, auto, and inverter-duty transformers, with capabilities expanded to 500 MVA and 765 kV. With over three decades of experience, the company operates five manufacturing facilities across Gujarat and Karnataka. The company's product portfolio comprises six categories including power transformers, inverter-duty transformers, furnace transformers, generator transformers, and special-duty transformers. The company operates five manufacturing facilities with a combined installed capacity of 63,060 MVA.