Atlanta Electricals Sparks Strong Debut on Stock Exchange

Atlanta Electricals Ltd, a key player in the manufacturing of power, auto, and inverter duty transformers, marked its entry on the stock market with an impressive debut, listing at a 14% premium.

The shares opened at Rs 858.10 on the BSE, reflecting a notable rise from the issue price of Rs 754, and later reached Rs 863.70. At the NSE, the listing stood at Rs 857.

Strong interest was evident in the company's IPO, with a 70.63-fold subscription rate, raising Rs 687 crore. The proceeds are earmarked for debt payment and working capital enhancement.

(With inputs from agencies.)