Atlanta Electricals IPO ends with subscription of 70.63 times

The offer received bids for 46.17 crore shares as against 65.38 lakh shares on offer.

The initial public offer of Atlanta Electricals received bids for 46,17,87,742 shares as against 65,38,439 shares on offer. The issue was subscribed 70.63 times.

The Qualified Institutional Buyers (QIB) category was subscribed 194.92 times, the Non-Institutional Investors category was subscribed 54.20 times and the Retail Individual Investors category was subscribed 10.42 times.

The issue opened for bidding on 22 September 2025 and it closed on 24 September 2025. The price band of the IPO is fixed between Rs 442 and 465 per share.

The issue comprised both a fresh issue of equity shares up to Rs 400 crore and an OFS of up to 38,10,895 equity shares. The OFS comprises the sale of 4,35,900 equity shares by Atlanta UHV Transformers LLP, the promoter selling shareholder; 6,66,560 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 and other selling shareholders.

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