Atlanta Electricals IPO subscribed 97%

The offer received bids for 63.51 lakh shares as against 65.38 lakh shares on offer.

The initial public offer of Atlanta Electricals received bids for 63,51,928 shares as against 65,38,439 shares on offer, according to stock exchange data at 17:00 IST on Monday (22 September 2025). The issue was subscribed 0.97 times.

The issue opened for bidding on 22 September 2025 and it will close on 24 September 2025. The price band of the IPO is fixed between Rs 442 and 465 per share. An investor can bid for a minimum of 32 equity shares and in multiples thereof.

The issue comprises both fresh issue of equity shares upto Rs 400 crore and an OFS of upto 38,10,895 equity shares. The OFS comprises sale of 4,35,900 equity shares by Atlanta UHV Transformers LLP, the promoters selling shareholders as well as 6,66,560 equity shares by Hemang H Shah, 7,77,185 shares by Nimish H Shah, 2,17,500 shares by Dhaval H Mehta, 3,26,250 shares by Gitaben H Mehta and 13,87,500 equity shares by Jignesh S Patel all other selling shareholders.

Of the net proceeds from the fresh issue, Rs 79.12 crore will be used for repayment/ prepayment (in full or in part), of certain outstanding borrowings availed by the company; Rs 210 crore will be used for funding working capital requirements and balance for general corporate purposes.

Atlanta Electricals (AEL) is one of the leading transformer manufacturers specializing in power, auto and inverter duty transformers up to and including 200 Mega Volt-Amp (MVA) capacity and with 220 kilovolts (kV). About 65.85% of its revenue from operation in FY25 came from supply of transformers to utilities including state electricity companies. As of March 31, 2025, the product portfolio of the company comprises 6 products, such as power transformers, inverter duty transformers, furnace transformers, generator transformers, and special duty transformers.

Ahead of the IPO, Atlanta Electricals on Friday, 19 September 2025, raised Rs 2.04 crore from anchor investors. The board allotted 27.14 lakh shares at Rs 754 each to 15 anchor investors.

The firm reported a consolidated net profit of Rs 119.97 crore and sales of Rs 1244.18 crore for the twelve months ended on 31st March 2025.

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