NEW DELHI: Atlanta Electricals Ltd, a manufacturer of power, auto, and inverter-duty transformers, announced on Wednesday that it will launch its initial public offering (IPO) on September 22 to raise ₹687 crore. The company has set a price band of ₹718–₹754 per share, implying a valuation of around ₹5,800 crore at the upper end.
The IPO will close on September 24, while anchor investor bidding is scheduled for September 19. The offering comprises a fresh issue of equity shares worth ₹400 crore and an offer-for-sale (OFS) of 38.1 lakh shares valued at ₹287 crore at the top of the price band, being sold by promoters and other shareholders.
Proceeds from the IPO are planned to be used for debt repayment, supporting working capital needs, and other general corporate purposes.
According to a Crisil report, India’s transformer market is being driven by rising electricity demand, with per capita consumption increasing by over 50% in the past decade. Growth is further supported by government investments in renewable energy and the expansion of the power transmission network, which are expected to create new opportunities in the transformer sector.
In the IPO allocation, 50% is reserved for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors. The minimum application lot size is 19 shares, with additional shares in multiples thereof.
Motilal Oswal Investment Advisors and Axis Capital are serving as book-running lead managers for the issue. Atlanta Electricals is expected to debut on the stock market on September 29.
