Atlanta Electricals Powers IPO with Rs 687 Crore Launch

Atlanta Electricals Ltd, a noted manufacturer of power transformers, is gearing up for its inaugural initial public offering (IPO) set to open on September 22. The IPO is expected to generate Rs 687 crore, with the share price band marked between Rs 718 to Rs 754, positioning the company with an approximate valuation of Rs 5,800 crore.

Positioned as a mixed offering, the IPO includes a fresh issuance of equity shares amounting to Rs 400 crore and an offer-for-sale of 38.1 lakh shares, worth Rs 287 crore at the peak price level. The proceeds from this strategic financial move are earmarked to settle debt, support the company's working capital requirements, and general corporate purposes.

Projected stock market listing is planned for September 29, with strategic backing from Motilal Oswal Investment Advisors and Axis Capital. The IPO is segmented with 50% reserved for qualified institutional buyers, 35% for retail investors, and the remaining 15% for non-institutional investors.

(With inputs from agencies.)