Atlanta Electricals IPO

Atlanta Electricals is launching an initial public offering (IPO) to raise ₹687.34 crores. This amount includes a fresh issue of 0.53 crore shares worth ₹400 crores and an offer for sale of 0.38 crore shares worth ₹287.34 crores.

The IPO will open for subscription on September 22, 2025, and close on September 24, 2025. The allotment of shares is expected to be finalised on September 25, 2025. The shares are planned to be listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 29, 2025.

The IPO price band is set between ₹718 and ₹754 per share. Retail investors can apply for a minimum lot size of 19 shares, which means an investment of ₹14,326 at the upper price limit. Qualified institutional buyers have higher minimum lot sizes, with small NIIs needing to apply for at least 14 lots (266 shares) and big NIIs for 70 lots (1,330 shares).

Motilal Oswal Investment Advisors Ltd. is the book-running lead manager, and MUFG Intime India Pvt. Ltd. is the registrar managing the IPO process.

Atlanta Electricals IPO Objectives 

The company plans to allocate the net proceeds from the issuance to the following purposes:

1. The company intends to utilize ₹791.20 million from the IPO net proceeds to repay or prepay existing borrowings, aiming to reduce overall debt and interest costs.
2. The company plans to use up to ₹2,100 million from the IPO proceeds towards meeting incremental working capital needs for Fiscal 2026 and 2027.
3. The company intends to use the remaining net proceeds (not exceeding 25% of the Gross Proceeds), for general corporate purposes in accordance with SEBI ICDR Regulations.

About Atlanta Electricals

Atlanta Electricals is one of India’s leading manufacturers of power, auto, and inverter duty transformers, ranked by production volume as of Fiscal 2024 (Source: CRISIL Report). The company is among the few in India capable of manufacturing transformers up to 200 MVA capacity and 220 kV voltage.

Over the years, Atlanta Electricals has shown remarkable growth, with revenue increasing from ₹6,256.62 million in Fiscal 2022 to ₹8,675.53 million in Fiscal 2024, achieving a CAGR of 38.66%.

With over 30 years of experience, the company has a strong pan-India presence, offering a diverse product range from 5 MVA/11 kV to 200 MVA/220 kV transformers. As of September 30, 2024, Atlanta Electricals has supplied over 4,000 transformers, totaling 78,000 MVA, across 19 states and three union territories, serving state and national grids, private sector companies, and renewable energy projects.

Its robust order book stood at ₹12,833.21 million as of September 30, 2024, with 73.39% from public sector undertakings and 26.61% from private players, reflecting its strong market trust and diversified customer base.

Industry Outlook

1. The global transformer market grew at a CAGR of ~4.9% over the last five years and is expected to reach over USD 90 billion by 2029, growing at ~7.4% annually between 2024 and 2029. 
2. India’s peak electricity demand is projected to rise to 277 GW by FY 2027 and 366 GW by FY 2032, with planned additions of 40 GW thermal and 15 GW hydro power. This will increase the demand for transformers significantly for grid expansion and stability.
3. Rapid growth in data centers, EV charging networks, and Indian Railways’ high-speed trains are increasing the demand for transformers, especially in 66-133 kV range. The growth of India's steel industry will further boost the demand for furnace transformers by 2034.

How To Apply for the Atlanta Electricals IPO Online?

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select IPO: Find and select the Atlanta Electricals IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

How To Check the Allotment Status of Atlanta Electricals IPO?

Steps to check IPO allotment status on Angel One’s app:

1. Log in to the Angel One app.
2. Go to the IPO Section and then to IPO Orders.
3. Select the individual IPO that you had applied for and check the allotment status.
4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Atlanta Electricals IPO 

Registered office: Plot No. 1503/4, GIDC Estate, Vithal Udyognagar, Anand, Gujarat, 388121

Phone: +91 6359669331

E-mail: complianceofficer@aetrafo.com

Atlanta Electricals IPO Reservation

Atlanta Electricals IPO Lot Size Details

Atlanta Electricals IPO Promoter Holding

The promoters of the company include Krupeshbhai Narharibhai Patel, Niral Krupeshbhai Patel, Amish Krupeshbhai Patel, Tanmay Surendrabhai Patel, Patel Family Trustee Private Limited, and Atlanta UHV Transformers LLP.

Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue. 

Key Performance Indicators for Atlanta Electricals Limited

Atlanta Electricals IPO Prospectus

• Atlanta Electricals IPO DRHP

Atlanta Electricals IPO Registrar and Lead Managers

Atlanta Electricals IPO Lead Managers

• Motilal Oswal Investment Advisors Ltd.

Registrar for Atlanta Electricals IPO

MUFG Intime India Pvt. Ltd. 

• Contact Number: +91-22-4918 6270

• Email Address: atlantaelectricals.ipo@linkintime.co.in

Atlanta Electricals IPO Registrar- https://linkintime.co.in/Initial_Offer/public-issues.html

Financial Performance of Atlanta Electricals Limited

Know before investing

Strengths

1. The company has over 30 years’ experience and is present across 19 states.

2. Strong ₹12,833 million order book with 208 diverse customers across India.

3. It has 3 advanced facilities with 16,740 MVA capacity to ensure regulatory compliance.

4. Experienced leadership team with over 20 years’ expertise supported by 301 professionals.

5. Consistent revenue growth from ₹6,256 million in 2022 to ₹8,675 million in 2024.

6. Prudent debt management with a 0.31 debt-to-equity ratio ensures financial stability.

7. Expanding capacity and backward integration to optimise costs and improve production efficiency.

8. Capacity to increase from 16,740 MVA to 47,280 MVA with the new facility.

Risks

1. Heavy reliance on Gujarat manufacturing may risk revenue if disruptions occur there.

2. Dependence on utilities and state electricity companies creates concentrated customer risk.

3. Government-controlled entities dominate revenue, increasing vulnerability to tendering process delays.

4. Order book estimates may not accurately reflect future revenue or business stability.

5. Revenue heavily dependent on top 10 customers, risking loss if any withdraw.

6. Top 10 suppliers constitute significant raw material cost, posing supply chain risks.

7. Power transformers generate majority revenue; market demand fluctuations may impact business.

8. Raw material price volatility and supply disruptions could materially harm financial results.

Atlanta Electricals Limited Peer Comparison