Atlanta Electricals IPO Price: ₹718 to ₹754 per share
IPO Dates: 22nd September 2025 – 24th September 2025
Company Overview
Incorporated in December 1988, Atlanta Electricals Limited is a leading Indian manufacturer of power, auto, and inverter duty transformers. Over the years, the company has established a strong market presence, specializing in transformers of up to 200 Mega Volt-Amps (MVA) capacity and voltage ratings of up to 220 kilovolts (kV).
The company was initially incorporated as Atlanta Electricals Pvt. Ltd. in December 1988, later converted into a public limited company in April 1996, and then reverted to private status in March 2003. In November 2024, it was once again converted into a public limited company under the current name, Atlanta Electricals Ltd.
Product Portfolio
As of March 31, 2025, the company offers a comprehensive portfolio of six products, including:
- Power transformers
- Inverter-duty transformers
- Furnace transformers
- Generator transformers
- Special-duty transformers
These products cater to diverse industrial needs and are widely used in state and national electricity grids, private sector projects, and renewable energy ventures.
Market Presence and Customer Base
Atlanta Electricals has built a strong nationwide presence, serving customers across 19 states and three union territories in India. By March 31, 2025, the company had supplied 4,400 transformers aggregating 94,000 MVA to major power projects and infrastructure networks.
Its customer base has grown significantly, expanding from 137 customers in FY 2023 to 208 in FY 2025, reflecting a CAGR of 23.22%. The clientele includes leading names such as Gujarat Energy Transmission Corporation (GETCO), Adani Green Energy, TATA Power, and SMS India. Beyond the domestic market, the company has also exported transformers to countries including the United States, Kuwait, and Oman.
Manufacturing Capabilities
The company operates five manufacturing facilities, of which four are fully functional. Two units are located in Anand, Gujarat, one in Bengaluru, Karnataka, and the newest unit at Vadod, Gujarat, which commenced commercial production in July 2025.
With a market share of around 12% in transformer production (5 MVA to 200 MVA, up to 220 kV), Atlanta Electricals has positioned itself as a key player in the industry.
Competitive Strengths
- Broad Product Portfolio: A diverse range of transformers designed to meet varied customer requirements.
- Strong Order Book: Robust pipeline supported by a well-diversified customer base.
- Manufacturing Excellence: State-of-the-art facilities with strict focus on quality, regulatory compliance, and health & safety.
- Experienced Management: Led by an expert management team and skilled workforce with deep industry knowledge.
- Market Leadership: Track record of profitability and steady financial performance in a sector with high entry barriers.
Bidding Starts In
Atlanta Electricals IPO Specifics:
| IPO Date | September 22, 2025 to September 24, 2025 |
| Face Value | ₹2 per share |
| Price Band | ₹718 to ₹754 per share |
| Lot Size | 19 Shares |
| Total Issue Size | 91,15,934 shares (aggregating up to ₹687.34 Cr) |
| Fresh Issue | 53,05,039 shares (aggregating up to ₹400.00 Cr) |
| Offer For Sale | 38,10,895 shares (aggregating up to ₹287.34 Cr) |
| Employee Discount | ₹70 |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 7,15,84,800 shares |
| Share Holding Post Issue | 7,68,89,839 shares |
Atlanta Electricals IPO Timetable (Important Dates)
| IPO Open Date | Monday, September 22 2025 |
| IPO Close Date | Wednesday, September 24 2025 |
| Basis of Allotment | Thursday, September 25 2025 |
| Initiation of Refunds | Friday, September 26 2025 |
| Credit of Shares to Demat | Friday, September 26 2025 |
| Listing Date | Monday, September 29 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 24, 2025 |
Atlanta Electricals IPO Lot Size
Bidders have the opportunity to bid for a minimum of 19 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 19 | ₹14,326 |
| Retail (Max) | 13 | 247 | ₹1,86,238 |
| S-HNI (Min) | 14 | 266 | ₹2,00,564 |
| S-HNI (Max) | 69 | 1,311 | ₹9,88,494 |
| B-HNI (Min) | 70 | 1,330 | ₹10,02,820 |
Atlanta Electricals IPO Reservation
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
Atlanta Electricals Limited IPO Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2025 |
|---|---|---|---|
| Assets | 560.76 | 559.25 | 866.19 |
| Total Income | 876.66 | 872.05 | 1250.49 |
| Profit After Tax | 87.54 | 63.36 | 118.65 |
| EBITDA | 143.12 | 123.16 | 199.88 |
| Net Worth | 164.90 | 228.47 | 349.90 |
| Total Borrowing | 73.09 | 48.60 | 141.03 |
Key Performance Indicator – Atlanta Electricals IPO
| KPI | Values |
|---|---|
| Market Cap | ₹ 5797.49Cr |
| EPS | ₹16.57 |
| P/E (x) | 46.33 |
| ROE | 33.91% |
| ROCE | 39.43% |
| Debt/Equity | 0.40 |
| RoNW | 33.91% |
| PAT Margin | 9.54% |
Objects of the Issue:
Atlanta Electricals Limited proposes to utilize the net proceeds from its Initial Public Offering (IPO) for the following purposes:
- Repayment/Prepayment of Borrowings: ₹79.12 crore will be used towards repayment or prepayment, in full or in part, of certain outstanding borrowings availed by the company, thereby reducing debt and strengthening the balance sheet.
- Funding Working Capital Requirements: ₹210 crore will be allocated to meet the company’s working capital needs, supporting day-to-day operations, business growth, and financial flexibility.
- General Corporate Purposes: The remaining funds will be deployed towards general corporate activities, including administrative expenses, business development, and other strategic initiative
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
