ATC Energies IPO opened for subscription on March 25, 2025, and will close on March 27, 2025. The issue consists of 54.04 lakh shares, including a fresh issue of 43.24 lakh shares and an offer for sale of 10.80 lakh shares. The allotment is expected to be finalised on March 28, 2025, with the tentative listing date scheduled for April 2, 2025, on the NSE SME platform.
The price band for the IPO is yet to be announced. Indorient Financial Services Limited is the book-running lead manager for the issue, while Kfin Technologies Limited has been appointed as the registrar. Alacrity Securities Limited is the market maker for the IPO.
Investors looking to participate in the IPO can refer to the Red Herring Prospectus (RHP) for detailed information on the company’s financials, objectives, and other key aspects. With its upcoming listing, ATC Energies aims to strengthen its market presence and drive business growth. The IPO is expected to attract interest from investors looking for opportunities in the SME segment.
Industry Outlook
- The global lithium-ion battery market is projected to grow from USD 64.8 billion in 2023 to over USD 146 billion by 2028, with a strong CAGR of 17.6%, driven by increasing demand for EVs and renewable energy storage.
- India's lithium-ion battery market is expected to expand from USD 2 billion to USD 6 billion by 2026 and USD 15 billion by 2030, fueled by rising demand in multiple industries, government support, and advancements in battery technology.
- India's lithium-ion battery demand surged from 2.9 GWh in 2018 to 49.8 GWh in 2023, growing at a CAGR of 47% between 2020-23, highlighting a rapid shift towards energy storage solutions and electric mobility.
ATC Energies IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- The funds will be used to repay or prepay borrowings taken for purchasing the Noida factory, including land and building.
- Capital will be allocated for refurbishment, civil work, and overall upgrades at the Noida facility.
- Investments will be made in IT upgrades at the Noida and Vasai factories, as well as the registered office.
- A portion of the proceeds will be used to meet the company’s working capital needs for smooth operations.
- The remaining funds will be used for general corporate purposes.
About ATC Energies System Limited
ATC Energies System Limited is a leading producer and supplier of lithium-ion batteries, offering efficient and cost-effective energy storage solutions for industries such as banking and automobiles. The company operates through a vertically integrated model, ensuring high-quality battery production tailored to diverse industrial needs.
Manufacturing facilities are strategically located in Vasai, Thane, and Noida, NCR, spanning a combined area of approximately 3,160 sq. mt. These facilities are equipped with advanced machinery, an in-house development and assembly system, and quality testing infrastructure. The company manufactures a wide range of lithium batteries, including mini (up to 100Wh), small (101-750Wh), medium (751-2,000Wh), and large (above 2,000Wh), catering to various applications.
Founded by a first-generation entrepreneur with over 25 years of experience in chemicals, electricals, and industrial equipment, the company started by producing mini batteries for POS and ATM machines. Over time, it has expanded its product range while maintaining a strong focus on research, innovation, and customer-centric solutions.
With 85-90% of raw materials sourced from China, the company ensures compliance with international environmental standards, keeping pollutant levels within accepted limits. It holds ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, and RoHS certifications, emphasising quality control and sustainable practices.
As India's lithium-ion battery demand is projected to grow from 11GWh in 2022 to 160.3GWh by 2030, the company is well-positioned to capitalise on the expanding market and emerging opportunities in renewable energy storage.
How To Check the Allotment Status of ATC Energies IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for the ATC Energies IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the ATC Energies IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of ATC Energies IPO
Registered office: Unit No. 3, Plot No. 33, New India Industrial Estate, Mahal IN AR, Off MC Rd., Andheri East, Mumbai – 400 093, Maharashtra, India
Phone:+91 7208878270
E-mail: cs@atcgroup.co
ATC Energies IPO Category Reservation
|
Investor Category |
Shares Offered |
|
Anchor Investor Shares Offered |
9,22,800 (17.08%) |
|
Market Maker Shares Offered |
2,71,200 (5.02%) |
|
QIB Shares Offered |
6,16,800 (11.41%) |
|
NII (HNI) Shares Offered |
17,96,400 (33.24%) |
|
Retail Shares Offered |
17,96,400 (33.24%) |
|
Total Shares Offered |
54,03,600 (100%) |
ATC Energies IPO Anchor Investors Details
|
Bid Date |
March 24, 2025 |
|
Shares Offered |
9,22,800 |
|
Anchor Portion Size (In Cr.) |
10.89 |
|
Anchor lock-in period end date for 50% shares (30 Days) |
April 27, 2025 |
|
Anchor lock-in period end date for remaining shares (90 Days) |
June 26, 2025 |
ATC Energies IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
1,200 |
₹1,34,400 |
|
Retail (Max) |
1 |
1,200 |
₹1,41,600 |
|
HNI (Min) |
2 |
2,400 |
₹2,83,200 |
ATC Energies IPO Promoter Holding
Sandeep Gangabishan Bajoria is the promoter of the company.
|
Share Holding Pre-Issue |
99.57% |
|
Share Holding Post Issue |
- |
Note: Equity dilution will be determined by subtracting the Share Holding Post Issue from the Share Holding Pre Issue.
Key Performance Indicators for ATC Energies IPO
|
KPI |
Value |
|
RoE (%) |
39.38 |
|
RoCE (%) |
42.66 |
|
Debt/Equity |
0.32 |
|
PAT Margin |
21.27 |
ATC Energies IPO Prospectus
ATC Energies IPO Registrar and Lead Managers
ATC Energies IPO Lead Managers
- Indorient Financial Services Limited
Registrar for ATC Energies IPO
Kfin Technologies Limited
- Contact Number:04067162222, 04079611000
- Email Address: aesl.ipo@kfintech.com
ATC Energies IPO Registrar
Financial Performance of ATC Energies System Limited
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|
| Revenue from Operation (in ₹ lakh) | 5,120.37 | 3,313.54 |
| Profit After Tax (PAT) (in ₹ lakh) | 1,089.16 | 775.57 |
| Current Ratio ( in times) | 3.78 | 2.56 |
| Total Borrowings (in ₹ lakh) | 1,050.79 | 1,058.97 |
| Return on equity (%) | 39.38 | 42.31 |
| Return on capital employed (%) | 42.66 | 42.91 |
| EBITDA (in ₹ lakh) | 1,516.35 | 1,148.80 |
Know before investing
Strengths
8Offers a diversified product range catering to multiple industries and applications.
Ensures high quality and reliable lithium batteries with strict controls.
Led by an experienced promoter with 25 years of industry expertise.
Achieved stable financial growth with revenue rising to ₹5,120.37 lakh in FY24.
Expanding operations to new regions to strengthen market presence.
Investing in automation and technology to enhance production efficiency.
Developing eco-friendly and high-capacity lithium batteries for sustainability.
Strengthening marketing efforts to expand corporate and retail customer base.
Risks
8Dependence on lithium, nickel, and cobalt exposes ATC Energies to supply risks.
Heavy reliance on China for key raw materials may disrupt operations.
No long-term contracts with suppliers increase vulnerability to price fluctuations.
Two customers contribute a significant portion of revenue, increasing dependency risk.
Over 57% of revenue comes from the banking sector, posing concentration risk.
Related party transactions with promoters could lead to potential conflicts of interest.
Business expansion delays due to pending capital expenditure orders may impact growth.
Leased factory units pose operational risks if agreements are terminated unexpectedly.
Peer Comparison of ATC Energies System Limited
| Company Name | EPS (Basic) | NAV (per share in ₹) | P/E (x) | RoNW (%) |
|---|---|---|---|---|
| ATC Energies System Limited | 6.78 | 20.6 | - | 39.38 |
| Eveready Industries India Limited | 9.18 | 53.2 | 36.08 | 18.91 |
| High Energy Batteries India Limited | 19.14 | 97.85 | 26 | 21.29 |
