Atlanta Electricals' ₹687 crore IPO opens on Sep 22, sets price band at ₹718-₹754 per share; check key dates

Atlanta Electricals IPO: Transformers manufacturer Atlanta Electricals is all set to come up with its ₹687.34-crore maiden initial public offering for subscription on September 22. The issue will conclude on September 24.

The initial share sale is a fresh issuance of shares aggregating to ₹400 crore and an offer for sale worth ₹287.34 crore. The price band has been fixed at ₹718 to ₹754 per share.

Those offloading under the OFS route include Atlanta UHV Transformers LLP, Nimish Harendra Shah, Hemang Harendra Shah, Dhaval Harshadbhai Mehta, Gitaben Harshadbhai Mehta and Jignesh Suryakant Patel.

The objectives of the offer include repayment of certain outstanding borrowings by the company, working capital needs and corporate general purposes.

Atlanta Electricals IPO: Lot size

Investors can apply for a minimum of 19 shares and in multiples thereafter. Half of the net offer has been reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.

Atlanta Electricals IPO: Key dates

Axis Capital Ltd and Motilal Oswal Investment Advisors Ltd were the issue's book-running lead managers, while MUFG Intime India Private Limited (formerly Link Intime India Private Limited) serves as the registrar.

About Atlanta Electricals

Atlanta Electricals is a leading manufacturer of power, auto and inverter duty transformers in India in terms of production volume as of the financial year 2023-24. It makes transformers up to and including 200 megavolt-ampere capacity and with 220 kilovolts.

It has a diversified customer base, which includes Gujarat Energy Transmission Corporation Limited (GETCO), TATA Power, Adani Green Energy Limited, and SMS India.

Its product portfolio includes auto transformers, inverter duty transformers, furnace transformers, power transformers, generator transformers and special duty transformers.