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Atlanta Electricals IPO Day 1: 88% Subscription So Far

 

The Indian stock market is buzzing today with the launch of Atlanta Electricals IPO, a fresh entrant in the power transformer segment that's drawing keen interest from investors. As of late afternoon on September 22, 2025, the issue has clocked an impressive 88% subscription on Day 1, reflecting solid demand especially from retail and institutional buyers. If you're eyeing this IPO or just curious about the details, let's break it down step by step – from the price band and lot size to key dates and why it might be worth your attention.

What is Atlanta Electricals and Why the Hype Around Its IPO?

Atlanta Electricals Limited, based in Gujarat with roots dating back to 1988, specializes in manufacturing power, auto, and inverter-duty transformers. The company stands out as one of India's top players in production volume for fiscal 2025, capable of handling high-capacity units up to 500 MVA and 765 kV voltages. Operating from facilities in Anand (Gujarat) and Bengaluru (Karnataka), it serves over 200 clients across 19 states and three union territories, including big names like Gujarat Energy Transmission Corporation, Adani Green Energy, and Tata Power.

This IPO comes at a time when India's power sector is booming, driven by renewable energy push and infrastructure growth. The company reported revenue growth from ₹874 crore in FY23 to ₹1,244 crore in FY25, a healthy CAGR of about 19%. Ahead of the public issue, Atlanta raised ₹205 crore from anchor investors like Kotak MF, HDFC MF, and Axis MF, signaling strong backing from big funds.

The total issue size is ₹687.34 crore, split into a fresh issue of ₹400 crore (to fuel expansion and debt repayment) and an offer for sale (OFS) of ₹287.34 crore by promoters and existing shareholders. It's a book-built issue managed by Axis Capital and Motilal Oswal, with MUFG Intime as registrar.

Atlanta Electricals IPO Subscription Status: Day 1 Hits 88%

As the bidding kicked off this morning, the IPO saw a steady pickup. By 3:00 PM, it was subscribed 88% overall, with bids for around 57.5 lakh shares against the total offer of 65.38 lakh shares. Here's a quick category-wise snapshot:

CategorySubscription RateBids Received
Retail Investors1.05xStrong early interest
Non-Institutional (NII)0.85xPicking up pace
Qualified Institutional Buyers (QIB)0.95xAnchors set the tone
Overall0.88x

Retail folks led the charge with over 105% subscription in their quota, while QIBs and NIIs showed balanced demand. This is a promising start for a three-day issue, though it might heat up further as word spreads. Keep an eye on live updates via NSE or BSE for the latest figures.

Price Band and Lot Size: How Much to Bid?

Getting the basics right is key for any IPO application. The price band for Atlanta Electricals shares is fixed at ₹718 to ₹754 per share (face value ₹2), giving investors flexibility to bid at the floor, cap, or cutoff price.

  • Lot Size: Minimum 19 shares per lot.
  • Retail Minimum Investment: At the upper band (₹754), one lot costs ₹14,326. You can apply for up to 13 lots (247 shares) worth ₹1,86,238.
  • sNII (Small NII): 14 lots (266 shares) – ₹2,00,564.
  • bNII (Big NII): 70 lots (1,330 shares) – ₹10,02,820.
  • Employee Quota: Eligible staff get a ₹70 discount per share.

Bidding is straightforward via UPI for retail (under ₹5 lakh) – just link your demat account and ASBA. Remember, 35% quota for retail, 50% for QIBs, and 15% for NIIs.

Key Dates for Atlanta Electricals IPO: Mark Your Calendar

Timing is everything in IPOs. Here's the full schedule to stay ahead:

EventDate
Issue OpenSeptember 22, 2025
Issue CloseSeptember 24, 2025
Basis of AllotmentSeptember 25, 2025
Refund InitiationSeptember 26, 2025
Share CreditSeptember 26, 2025
Listing DateSeptember 29, 2025 (BSE & NSE)

Allotment status will be available on the registrar's site (linkintime.co.in) or BSE/NSE portals post-September 25. Refunds hit accounts the next day for non-allottees.

Grey Market Premium (GMP): Signs of a Strong Debut?

The grey market is abuzz with Atlanta Electricals shares trading at a GMP of ₹140-142 over the upper band (₹754), implying an estimated listing price of ₹894-896 – a potential 18-19% gain on debut. This unofficial buzz often hints at listing pops, but remember, GMP isn't guaranteed and can swing with market mood. As of now, it's holding steady, which bodes well for Day 2 and 3 subscriptions.

Should You Subscribe to Atlanta Electricals IPO?

On the flip side, valuation at the upper band clocks a P/E of 48.8x on FY25 earnings and EV/EBITDA of 30.1x, which some analysts call fully priced. Risks include raw material volatility and competition from peers like Transformers and Rectifiers India. Still, the sector's tailwinds – think green energy and grid upgrades – make it a long-term bet.

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