Atlanta Electricals IPO

About Atlanta Electricals IPO

The Atlanta Electricals Ltd IPO consists of a fresh issue and an offer for sale. The fresh issue aggregates up to ₹400 crores with shares of face value of ₹2 each. The offer for sale is up to 3,810,895 equity shares aggregating up to ₹287.34 crores. The price band is ₹718-₹754 per share and the lot size is 19. The IPO opens on September 22, 2025 and closes on September 24, 2025.

The listing date is on or about September 29, 2025 and the allotment date is on September 25, 2025. The credit of shares to the Demat account will take place on or about September 26, 2025, while the initiation of refund will take place on or about September 26, 2025.

Atlanta Electricals Ltd is one of the leading manufacturers of power, auto and inverter duty transformers in India, in terms of production volume as of Fiscal 2025. It’s among the few companies in India, manufacturing transformers up to and including 200 Mega Volt-Amp (“MVA”) capacity and with 220 kilovolts (“kV”) voltage.

Objectives of Atlanta Electricals IPO

The company proposes to utilise the IPO proceeds for:

• Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by it
  
• Funding working capital requirements
  
• General corporate purposes
  

Industry Outlook

India's transformer market is driven by the relentless growth in electricity demand, with per capita consumption surging by over 50% in the last decade. The transformer segment has registered a growth of 10.4% in between 2019-23 and is expected to grow at a CAGR of ~6-7% from 2024-2029. As electricity demand continues to rise, the EHV and UHV power transformer market is poised for significant growth.

These transformers play a crucial role in transmitting electricity over long distances with minimal losses, making them essential for efficient power distribution networks.

Company Information

Atlanta Electricals Ltd is one of the leading manufacturers of power, auto and inverter duty transformers in India, in terms of production volume as of Fiscal 2024. It’s also one of the few companies in India, manufacturing transformers up to and including 200 Mega Volt-Amp (MVA) capacity and with 220 kilovolts (kV) voltage.

As of March, 2025, the company had a customer base in 19 states and three union territories, across India, with a supply of 4,400 transformers, aggregating to 94,000 MVA to various state and national electricity grids, private sector players and prominent renewable energy generation projects.

Strengths of Atlanta Electricals IPO

• One of the leading manufacturers of power, auto and inverter duty transformers in India, well-positioned to capture the industry tailwinds
  
• Broad and diversified product portfolio with focussed product development tailored to meet the customer requirements
  
• Strong order book coupled with well diversified customer base
  
• Manufacturing capabilities with focus on quality and high level of regulatory compliance and health and safety measures
  
• Experienced management team and qualified personnel with significant industry experience
  
• Track record of profitability and consistent financial performance in an industry with significant entry barriers
  

Risks of Atlanta Electricals IPO

• Any disruptions in the Gujarat region could have a material adverse effect on business, financial condition and results of operations
  
• Any economy downturn or change in government policy may have an adverse impact on business, financial condition, cash flows and results of operations
  
• The company may be adversely affected if it doesn’t succeed in all or a majority of the contracts that it tenders for
  
• The company’s order book may not be representative of its future results and its actual income may be significantly less than the estimates reflected in its order book
  
• It has in the past entered into related party transactions, which may potentially involve conflicts of interest with the equity shareholders
  
• The loss of any top 10 customers will materially and adversely affect revenues and profitability
  
• Any variation in the supply and cost of key raw materials and traded goods could have an adverse effect on business, financial condition and operations
  
• A reduction in purchases of power transformers could adversely affect business, results of operations and financial condition
  

Anchor Investor Bidding Date TBA

IPO Registrar and Book Running Lead Managers

• Registrar: MUFG Intime India Pvt Ltd, formerly known as Link Intime India Pvt Ltd
  
• Book Running Lead Managers: Motilal Oswal Investment Advisors Ltd and Axis Capital Ltd
  

Business Model

With a pan India presence and operations spanning over 30 years in the transformer manufacturing industry, Atlanta Electricals Ltd supply a wide range of transformers starting from 5 MVA/11 kV up to 200 MVA/220 kV.

Company Growth Trajectory

The revenue from operations of Atlanta Electricals Ltd grew from ₹873.883 crores in FY 23 to ₹1244.180 crores in FY 25. Orders received from government entities grew from ₹330.668 crores in FY 23 to ₹1348.520 crores while that received from public entities during the same period increased from ₹203.394 crores to ₹294.438 crores.

The company also prioritises maintaining an optimal capital structure by prudently managing its leverage and adhering to a conservative debt policy. As of March 31, 2025, its debt-to-equity ratio was 0.40, calculated based on long-term borrowings, short-term borrowings, and current maturities in relation to equity share capital and other equity. This disciplined financial approach ensures stability and positions it well for future growth.

Market Position

As of March 31, 2025, Atlanta Electricals Ltd had a customer base in 19 states and three union territories, across India, with a supply of 4,400 transformers, aggregating to 94,000 MVA to various state and national electricity grids, private sector players and prominent renewable energy generation projects and construction companies.

How to Check Allotment Status of Atlanta Electricals IPO?

Visit the Registrar’s Website

• Visit the website of MUFG Intime India Pvt Ltd
  
• Choose ‘Public Issues’ from Investor Services dropdown
  
• Choose the name of the company from ‘Select Company’ dropdown
  
• Enter any of these - PAN Number, Application Number, DP/Client ID, Account Number / IFSC
  
• Click on Submit to check the status
  

Check on Bombay Stock Exchange Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:

• Select 'Equity' from the dropdown menu
  
• Choose 'Atlanta Electricals Ltd' in the next dropdown
  
• Enter your application number
  
• Enter your PAN
  
• Click 'Search’ to know allotment status
  

Verify on the National Stock Exchange Website

The National Stock Exchange (NSE) has an IPO Bid Verification module. You can use it to check the status of Atlanta Electricals Ltd IPO. Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'. On the NSE IPO Bid Verification page, enter:

• Application number
• PAN

Then click 'Submit' to know the allotment status.

How to Apply for Atlanta Electricals Ltd IPO?

• Step 1: Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
  
• Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
  
• Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
  
• Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
  
• Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.