The IPO of Atlanta Electricals received 0.80 times subscription on the first day. The QIB category fully subscribed it, while retail investors subscribed 0.75 times and NIIs 0.67 times. The price band is ₹718–₹754 per share, and the Grey Market Premium (GMP) is ₹125, which could lead to an estimated listing gain of up to 16.58%.
Atlanta Electricals IPO: Atlanta Electricals' IPO will remain open for subscription until September 24. On the first day, it received 0.80 times subscription, with the QIB category subscribing 1.00 times, retail investors 0.75 times, and non-institutional investors 0.67 times. This book-built issue, worth ₹687.34 crore, comprises a fresh issue of ₹400 crore and an Offer-for-Sale (OFS) of ₹287.34 crore. The GMP in the grey market is ₹125, indicating an estimated listing gain of 16.58%. The company manufactures transformers and supplies its products across 19 states in India.
Day 1 Bidding Distribution
On the first day, the highest bids for the IPO came from the QIB category. Retail investors subscribed 0.75 times, while non-institutional investors (NIIs) subscribed 0.67 times. Additionally, the QIB category saw 1.00 times subscription. This indicates a balanced interest from investors in this IPO.
IPO Structure
Atlanta Electricals' IPO is a book-built issue. It includes 0.53 crore shares worth ₹400 crore offered as a fresh issue. Additionally, 0.38 crore shares worth ₹287.34 crore will be sold under the Offer-for-Sale window. The IPO price band has been fixed at ₹718 to ₹754 per share. The shares are expected to be allotted on September 25, with listing anticipated on BSE and NSE on September 29.
Company Overview
Atlanta Electricals was established in 1983. The company is active in the manufacturing of transformers. Its headquarters are located in Anand, Gujarat. The company has over 30 years of experience in power, auto, furnace, and inverter-duty transformers. Currently, it operates three manufacturing units in Anand and Bengaluru. Another production facility is under construction in Vadodara.
Grey Market Performance
Atlanta Electricals' shares are trading at favorable rates in the grey market. According to InvestorGain data, the Grey Market Premium (GMP) for this IPO was ₹125 around 12:33 PM on September 22. Based on this, the estimated listing price could be ₹879 per share. Investors are likely to see an estimated profit of approximately 16.58% per share. On August 21, its GMP was ₹142, indicating a decline in one day.
Company's Production Capacity and Market Presence
Atlanta Electricals has supplied approximately 4,000 transformers with a total capacity of 78,000 MVA across 19 states and three Union Territories in India. The company has long established its presence in the power and industrial sectors. Its transformers are used in various industries, and there is market trust in the company's quality.
Investor Response
The positive response received by the IPO on the first day clearly indicates that investors are enthusiastic about the future of Atlanta Electricals. A balanced subscription was observed in both the fresh issue and OFS segments. Experts suggest that this IPO remains attractive in the grey market as well. Investors showed interest on the very first day, which reflects the company's b business and market demand.
The allotment of Atlanta Electricals' shares will be done on September 25. Subsequently, listing on BSE and NSE is expected on September 29. Investors are eagerly awaiting this listing. Amidst favorable grey market prices and b subscription, this IPO has become significant for investors.
