MUMBAI, 17 SEPTEMBER, 2025 (GPN): Atlanta Electricals Ltd, manufacturer of power, auto and inverter duty transformers, on Wednesday said it will launch its initial public offering (IPO) on September 22 to raise Rs 687 crore.

The company has fixed a price band of Rs 718 to Rs 754 per share, valuing the company at roughly Rs 5,800 crore at the upper end.

Atlanta Electricals’ maiden public offering is scheduled to conclude on September 24, and the one day bidding for anchor investors will open on September 19.The Gujarat-based company’s IPO is a combination of a fresh issue of equity shares worth Rs 400 crore and an offer-for-sale (OFS) of 38.1 lakh equity shares valued Rs 287 crore at the upper end of the price band, by a promoter and other selling shareholders.

The firm plans to allocate the net proceeds from the new issue to support the following objectives: repaying or prepaying, either wholly or partially, specific existing borrowings taken by the company; addressing the company’s working capital needs; and covering general corporate purposes.

According to a Crisil report, India’s transformer market is driven by the relentless growth in electricity demand, with per capita consumption surging by over 50 per cent in the last decade.

Additionally, the government’s investment in the renewable energy sector and expanding the power transmission network, which will create opportunities for the transformer market’s growth.

Atlanta Electricals IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. A discount of Rs. 70 per equity share is being offered to eligible employees in the employee reservation portion. The minimum lot size for application is 19 shares and in multiples thereafter.The floor price and the cap price are 359 times and 377 times the face value of the equity shares, respectively.

Motilal Oswal Investment Advisors and Axis Capital are the book-running lead managers to the issue. Atlanta Electricals is expected to make its stock market debut on September 29.

Atlanta Electricals Limited specializes in the production of power, auto, and inverter duty transformers in India.
As of September 30, 2024, the company offers a range of six products: power transformers, inverter-duty transformers, furnace transformers, generator transformers, and transformers for special applications.

As of September 30, 2024, the company caters to clients in 19 states and three union territories across India, delivering 4,000 transformers with a total capacity of 78,000 MVA to state and national power grids, private entities, and significant renewable energy projects.

The company operates three manufacturing plants, with two situated in Anand, Gujarat, and one in Bengaluru, Karnataka.

As of September 30, 2024, the company has built a diverse customer base of 208 clients, including GETCO, Adani Green Energy, TATA Power, and SMS India.The company has also exported its transformers to nations such as the United States, Kuwait, and Oman.

As of September 30, 2024, the workforce comprises 301 employees across various departments. As per the draft red herring prospectus (DRHP), the company’s listed peers are Voltamp Transformers Ltd (with a P/E of 27.51), Transformers and Rectifiers India Ltd (with a P/E of 274.26), and Danish Power Ltd (with a P/E of 34.16).