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Atlanta Electricals IPO
70.44xsubscribed

Atlanta Electricals IPO

Electric Equipment
listed
₹13,642Min. investment

Atlanta Electricals Limited IPO Details

SectorElectric Equipment
Price range₹718 – ₹754
IPO type
Regular
Lot size19 shares
Issue size₹687Cr
Red Herring Prospectus
Read
Market cap
₹5,797CrLower than sector avg
RevenueApr 2024 - Mar 2025
₹1,244.1CrHigher than sector avg
Growth rate3Y CAGR
19.30%

Atlanta Electricals IPO Subscription Status

Date
QIB
NII
Retail
Total
22-Sep-25
1.0 times (X)
0.99 times (X)
0.97 times (X)
0.98 times (X)
23-Sep-25
1.05X
5.5X
2.97X
3.08X
24-Sep-25
101.08X
53.49X
10.18X
70.44X

As on 22-Sep-25, 5:30 PM

Atlanta Electricals IPO Timeline

  1. Pre-apply
    18 Sep 2025
  2. Bid start
    22 Sep 2025
  3. Bid end
    24 Sep 2025
  4. Allotment
    25 Sep 2025
  5. Release of funds
    26 Sep 2025
  6. Demat transfer
    26 Sep 2025
  7. Listing
    29 Sep 2025

About Atlanta Electricals Limited

Founded in 1988, Atlanta Electricals is a leading manufacturer of various types of transformers. The company makes power, auto and inverter duty transformers and is able to produce transformers with a rated capacity of up to 500 Mega Volt-Amp (MVA) and with 765 kilovolts (kV).
The company serves key players in the transmission and distribution, renewable energy and mobility sectors, which has helped support its growth. As of March 31, 2025, it has a diversified customer base of 208 customers, which include Gujarat Energy Transmission Corporation Limited (GETCO), Adani Green Energy Limited, TATA Power and SMS India.
Atlanta Electricals has dispatched 4,400 transformers, aggregating to 94,000 MVA across 19 states and three union territories as of March 31, 2025. The company successfully retained a clientele of 208 customers including GETCO, Adani Green Energy, TATA Power etc. The order book as of March 2025, was ₹1,642.96 crore in which public sectors contributed for 82.08% and private sector contributed for 17.92%.
The company has five manufacturing facilities, out of which four facilities are fully operational, two located at Anand, Gujarat, one at Bengaluru, Karnataka and the Vadod Unit which commenced commercial production in July, 2025, with combined installed capacity of 63,060 MVA.
Its Gujarat Unit – I and Gujarat Unit – II facilities comprise National Accreditation Board for Testing and Calibration Laboratories (“NABL”) accredited testing laboratories with 4 transformer testing labs capable of conducting routine tests for transformers up to 200 MVA/ 245kV and one transformer oil testing lab.
The product portfolio offers a range of transformers for many sectors like power, industrial, and renewable energy industries. Some of the transformers are as follows - auto transformers (66 kV to 220 kV), inverter duty transformers (0.60 kV to 33 kV), furnace transformers (0.43 kV to 66 kV), power transformers (11 kV to 220 kV), generator transformers (3.30 kV to 220 kV), and special duty transformers (0.43 kV to 132 kV).
The company provides transformers suited for high-altitude locations like Leh and those with fire-safe, biodegradable ester fluids for city needs. The company caters to national and state electricity grids, renewable energy schemes and engineering procurement and construction companies.
India's transformer component industry grew at a 10.2% CAGR during 2019-2024 to $1.3 billion and is likely to grow to $2.6 billion by 2030 at a CAGR of 12.2%. Increase in investments in the power transmission and distribution infrastructure, which is supported by programs such as RDSS, is likely to increase demand. The company, with over 30 years of experience and supplying to 19 states and 3 union territories, and a robust export presence, coupled with NABL-accredited quality testing, allows it to leverage growth in this sector.
The company is investing in backward integration by producing key components like tanks, radiators, and insulation to cut costs and gain control. It is also increasing global reach through exports and entering Ultra High Voltage (UHV) and renewable energy segments. With installed capacity increasing to 47,280 MVA at several locations, it is concentrating on higher utilisation, economies of scale, and digital instruments for maximising efficiency.
Now, Atlanta Electricals Ltd is launching its initial public offering (IPO), which consists of a fresh issue of ₹400 crore and an offer for sale of ₹287.34 crore. The total issue size of the IPO is ₹687.34 crore. Its shares will be listed on the NSE and BSE.

Atlanta Electricals Limited IPO Analysis

IPO REVIEW

Atlanta Electricals IPO | Analysis Video

Should you apply?

Watch our analysts break down the Atlanta Electricals Limited IPO — business model, financials, valuation and key risks — to help you decide whether to apply. The video covers the IPO price band, important dates, and what the subscription numbers mean for retail investors.

Checklist

Quality analysis
Revenue growth
Company valuation
Earnings expansion
Risk analysis
Debt to Equity ratio
Promoter holdings
Shares pledged
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

Strength and Weakness

Leading manufacturer of transformers

The company is one of the leading manufacturers of power, auto and inverter duty transformers in India in terms of volume as of FY25. The Indian transformer component market is expected to grow at a CAGR of 12.2% by 2030. The company has over three decades of experience and is well-positioned to capture industry tailwinds.

Diversified product portfolio

As of FY25, the company’s portfolio comprises six products, such as power transformers, inverter duty transformers, furnace transformers, generator transformers, and special duty transformers. It has successfully manufactured and supplied transformers tailored to unique specifications. It is one of the few companies to deliver 66 kV transformers to Leh, which were designed for installation at an altitude of over 3,000 meters.

Strong order book and diversified customer base

The company’s order book stood at ₹1,642.95 crore in FY25, ₹1,271.36 crore in FY24 and ₹534.06 crore in FY23. The order book has grown consistently over the years with its diversified customer base, catering to 208 clients in FY25 across 19 states and 3 union territories.

Manufacturing capabilities

The company operates four manufacturing facilities with a capacity utilisation of 98.28% in FY25. Its present capacity includes 35 winding machines, 8 core building stations, 14 core coil assembly stations, 2 vapour phase drying ovens, 6 vacuum drying ovens, and seven tanking workstations.

Objectives of Atlanta Electricals Limited IPO

Working capital
52.50%
The company will utilise ₹210 crore towards funding working capital requirements.
General corporate purposes
27.80%
Part of the IPO proceeds will be used for general corporate purposes.
Repayment of loans
19.78%
The company will utilise ₹79.12 crore towards repayment of borrowings.

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio
This IPO₹1,244.1Cr19.30%₹118.65Cr₹5,797Cr45.500.40
This sector (avg.)₹1,165.91Cr0%₹116.9Cr₹10,304.95Cr99.840.59
₹12,188.31Cr---₹1,874.61Cr₹1,18,213.1Cr66.900.01
₹17,364.2Cr---₹1,688.8Cr₹1,10,443.7Cr65.400.01
₹9,908.66Cr---₹972.98Cr₹91,981.6Cr81.420.01

*Revenue for financial year 2024-25. Lower P/E and D/E ratios are generally preferred.

Atlanta Electricals IPO Contact Details

Company NameAtlanta Electricals Limited

How to apply for Atlanta Electricals IPO?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Atlanta Electricals Limited IPO FAQs

Investors can apply for the Atlanta Electricals IPO through their Demat account via the stock exchange or through their broker.
The issue size of the Atlanta Electricals IPO is 687 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Atlanta Electricals IPO will be open between 2025-09-22 and 2025-09-24.
Atlanta Electricals IPO allotment date is 2025-09-26. For Atlanta Electricals IPO allotment status check, you can visit the website of the registrar of the IPO.
For Atlanta Electricals IPO, the IPO registrar is MUFG Intime India Private Limited. You can check Atlanta Electricals IPO allotment status on the website of the registrar.
The shares are proposed to be listed on the BSE and NSE.
The Atlanta Electricals IPO shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
The Atlanta Electricals IPO lot size is 19 and minimum order quantity is 19.
Atlanta Electricals IPO has set the price band for its IPO at 754 per equity share with a face value of 2.