Atlanta Electricals IPO 2025 : Key Details, Price And Analysis

Atlanta Electricals Ltd

Atlanta Electricals Ltd manufactures power transformers, inverter-duty transformers, furnace transformers, generator transformers, and special-duty transformers. It supplies to the state and national grid as well as to private players in the thermal power and the RE space. The company has 4 functional manufacturing facilities across Gujarat and Karnataka. It has 208 customers and includes big names like Adani Power, Tata Power, GETCO etc.

The IPO is a combination of fresh issue and OFS and the fresh funds will be used for debt repayment and funding working capital needs. Atlanta Electricals Ltd was promoted by Niral Patel, Amish Patel, Tanmay Patel and their respective family trusts. The IPO will be lead-managed by Motilal Oswal and Axis Capital; while MUFG Intime India Private Ltd will be the IPO registrar. The company is headquartered at Anand in the state of Gujarat.

Highlights of the IPO Issue

Here are the key highlights of the public issue of Atlanta Electricals Ltd.

• The IPO of will be open from September 22nd, 2025 to September 24th, 2025. It has a face value of ₹2 per share and IPO price band is set in range of ₹718 to ₹754 per share.

• The IPO of Atlanta Electricals Ltd will be a combination of a fresh issue of shares and an offer for sale (OFS) by early shareholders.

• The fresh issue portion comprises the issue of 53,05,039 shares (53.05 lakh shares), which at the upper price band of ₹754 per share translates into ₹400 crore.

• The OFS of the IPO comprises the sale of 38,10,895 shares (38.11 lakh shares), which at the upper price band of ₹754 per share translates into ₹287.34 crore.

• The overall IPO will comprise of a fresh issue and an OFS of 91,15,934 shares (91.16 lakh shares) worth ₹687.34 crore at the upper band price of ₹754 per share.

The IPO of Atlanta Electricals Ltd will be listed on the NSE and the BSE on the IPO mainboard.

Key Dates, Investor Allocation, And Lot Sizes

Here are the key dates pertaining to the IPO of Atlanta Electricals Ltd

Data Source: Company RHP

Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).

The table below captures the gist of the allocation to various categories.

Data Source: Security Parameters Filing (NSE)

The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement. Here is a quick look at the lot sizes applicable for the IPO of Atlanta Electricals Ltd for various categories of investors.

It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 19 shares)

Financial Highlights

The table captures the key financials of Atlanta Electricals Ltd for last 3 financial years.

Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)

The company has shown fairly strong financials in terms of sales growth and in terms of profit growth, in the last one year. The PAT margins have stabilized at just under 10%, while the ROE continues to be very impressive on a consistent basis.

Valuation Metrics

At the current issue price of ₹754 per share, the valuation of the company is at a P/E ratio of 45.5X in terms of latest year EPS of ₹16.57. If we extrapolate the EPS growth, the forward P/E may take a couple of years to be attractive, although the ROE levels are fairly high. The electrical goods industry does command an attractive P/E ratio, although that is more in the FMEG space, and less in the B2B space.

The financial track record of the company has been strong and the company does bring some strengths to the table. It has a diversified customer base and a strong order book to boot. It has a leadership position in the manufacture of the full range of transformers with a track record of profitability. Investors in the IPO will have to consciously adopt a long-term approach to this stock.

A Brief on the Anchor Allocation

The anchor issue of Atlanta Electricals Ltd saw a relatively strong response on 19th September 2025 with 29.34% of the IPO size absorbed by anchors. Out of 92,53,324 shares (92.53 lakh shares) on offer, anchors picked up 27,14,885 shares (27.15 lakh shares) accounting for 29.34% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹754 per share. This includes the face value of ₹2 per share plus a share premium of ₹752 per share. The anchor bidding opened and closed on 19th September 2025.

Key Points to Note in the Anchor Allocation Process

Here are the key details pertaining to the anchor bidding of Atlanta Electricals Ltd

An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery.

Anchor Allocation Investors

On 19th September 2025, Atlanta Electricals Ltd allotted 27,14,885 shares to 15 anchor investors. The allocation was done at the upper IPO price band of ₹754 per share which resulted in overall anchor allocation of ₹204.70 crore. The anchors have already absorbed 29.34% of the total issue size of ₹697.70 crore. Listed below are the 10 IPO anchor investors who accounted for anchor collection of ₹167.63 crores, or, 81.89% of anchor allocation.

Data Source: BSE Filings (Value Allocated in ₹ in Crore)

The detailed and comprehensive report on the anchor allocation with the mutual fund portion separated can be accessed on BSE by clicking on the link below.

https://www.bseindia.com/markets/MarketInfo/DownloadAttach.aspx?id=20250919-43&attachedId=cbcdac70-96a1-4906-83d8-b5837e9c6ddf

Out of the 27,14,885 shares allocated to the anchors in the IPO, there were a total of 15,91,573 shares allocated to domestic mutual funds regulated by SEBI. This allocation was done across 8 mutual fund Schemes of 5 AMCs in India. Mutual Funds accounted for 58.62% of the overall anchor allocation absorbed. Most of the other anchor shares were allocated to alternative investment funds (AIFs) and FPIs.

Next Step in the IPO

Post the closure of the IPO subscription on 24th September 2025, the basis of allotment will be finalized on 25th September 2025 and the refunds will be initiated on 26th September 2025. In addition, the demat credits are expected to also happen on 26th September 2025 and the stock will list on 29th September 2025 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 26th September 2025 under ISIN (INE0Z4F01028).

IPO Subscription Status On Day-1

As of 5.10 pm on 22nd September 2025, out of the 65.38 lakh shares on offer in the IPO (excluding anchor portion), Atlanta Electricals Ltd saw bids for 63.57 lakh shares. This implies an overall subscription of 0.97X at a macro level. The granular break-up of subscriptions as of the close of Day-1 of the IPO of Atlanta Electricals Ltd was as under:

The subscriptions were led by the QIB Investors followed by the HNI / NII investors and the Retail investors in that order. QIB bids and NII bids typically gather most of the momentum on the last day, and that would be the case in this issue also. Both the QIB and the NII bids pick up momentum on the last day since that is when the bulk HNI funding bids, corporate bids, and the bulk QIB bids come in. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.

Data Source: NSE / BSE (as of close of Day-1 of the IPO)

The IPO is open up to September 24, 2025, at which point we will know the final subscription status of the IPO.

IPO Subscription Status On Day-2

As of 5.35 pm on 23rd September 2025, out of the 65.38 lakh shares on offer in the IPO (excluding anchor portion), Atlanta Electricals Ltd saw bids for 201.05 lakh shares. This implies an overall subscription of 3.07X at a macro level. The granular break-up of subscriptions as of the close of Day-2 of the IPO of Atlanta Electricals Ltd was as under:

The subscriptions were led by the HNI / NII Investors followed by the Retail investors and the QIB investors in that order. QIB bids and NII bids typically gather most of the momentum on the last day, and that would be the case in this issue also. Both the QIB and the NII bids pick up momentum on the last day since that is when the bulk HNI funding bids, corporate bids, and the bulk QIB bids come in. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.

Data Source: NSE / BSE (as of close of Day-2 of the IPO)

The IPO is open up to September 24, 2025, at which point we will know the final subscription status of the IPO.

IPO Subscription Status On Day-3

As of 7.20 pm on 24th September 2025, out of the 65.38 lakh shares on offer in the IPO (excluding anchor portion), Atlanta Electricals Ltd saw bids for 4,617.88 lakh shares. This implies an overall subscription of 70.63X at a macro level. The granular break-up of subscriptions as of the close of Day-3 of the IPO of Atlanta Electricals Ltd was as under:

The subscriptions were led by the HNI / NII Investors followed by the Retail investors and the QIB investors in that order. QIB bids and NII bids typically gather most of the momentum on the last day, and that would be the case in this issue also. Both the QIB and the NII bids pick up momentum on the last day since that is when the bulk HNI funding bids, corporate bids, and the bulk QIB bids come in. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.

Data Source: NSE / BSE (as of close of Day-3 of the IPO)

The IPO was open up to the close of trading hours on September 24, 2025, and the IPO is now closed for subscription. The subscription status that you see above is the final subscription status of the IPO as of the last updated at 7.00 pm on September 24, 2025.

About the Atlanta Electrical IPO

The IPO of Atlanta Electricals Ltd opened on September 22nd, 2025 and closed on September 24th, 2025. The overall IPO comprised of a fresh issue of 92,53,324 shares (92.53 lakh shares) worth ₹697.70 crore at the upper price band of ₹754 per share. The allotment status will be finalized by end of day (EOD) of September 25, 2025. Here is how to check your allotment status for the IPO of Atlanta Electricals Ltd. You can check IPO status on the BSE website or on the NSE website or on the IPO Registrar website (MUFG Intime India Private Ltd).

Checking The Allotment Status of IPO on BSE Website

This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. Visit the BSE link for the IPO allotment by clicking on the link below.

https://www.bseindia.com/investors/appli_check.aspx

Once you reach the page, here are the steps to follow.

• Under Issue Type – Select Equity Option

• Under Issue Name – Select Atlanta Electricals Ltd from the drop-down box

• Enter the Application Number / CAF exactly as in the acknowledgement slip .OR.

• Enter your PAN (10-digit alphanumeric) number

• Once this is done, you need to click on the Captcha to verify you are not a robot

• Finally click on the Search Button

You can use either of the parameters to query; Application / CAF number or Investor PAN.

The allotment status will be displayed on the screen in front of you informing about the number of shares of Atlanta Electricals Ltd allotted into your demat account. You can save a screenshot of the allotment status output for subsequently verifying with the demat account credits.

Checking The Allotment Status of IPO on NSE Website

This is a common link for all IPOs. Click on NSE link for IPO allotment as below.

https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

Once you reach the page, here are the steps to follow.

• Under Issue Type – Select Equity & SME IPO Details Option

• Under SELECT SYMBOL – Select ATLANTAELE from the dropdown box

• Enter the Application Number / CAF exactly as in the acknowledgement slip .AND.

• Enter your PAN (10-digit alphanumeric) number

• Once both are entered, click on the Submit Button

You must input the Application / CAF number and the Investor PAN.

The allotment status will be displayed on the screen in front of you informing about the number of shares of Atlanta Electricals Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.

Checking Allotment Status of IPO on MUFG Intime India Private Limited

Here are the steps to follow. Visit the Link Intime registrar website for IPO status by clicking on the link below:

https://in.mpms.mufg.com/Initial_Offer/public-issues.html

There are 4 options available to you to access the allotment status, and you can use any of these options to query.

• You can use PAN access. Enter the 10-character alphanumeric income tax permanent account number (PAN). Make it a point to verify your PAN before entering.

• The second option is to use Application Number / CAF to query the allotment status in the IPO. The application / CAF number is available on the acknowledgement slip.

• You can use DPID-Client ID combination. For NSDL combination is alphanumeric, while for CDSL, combination is numeric. This is available in your demat statement.

• You can also query by the combination of your bank account number and IFSC number provided as the IPO mandate bank. It is available on your cheque book.

Finally, click on the SUBMIT button.

In case, you have any issues with the output, register an investor query with Link Intime India Private Ltd. You can either send an email with all requisite details and problem to [email protected] or you can call on (0)-81081-14949 for voice call.