Atlanta Electricals IPO: Price Band, Analysis, Allotment & GMP

The Atlanta Electricals IPO is a mainboard IPO by Atlanta Electricals Ltd., a company incorporated in 1988 that manufactures power, auto, and inverter duty transformers. The IPO is a bookbuilt issue of Rs. 687.34 Cr (~0.91 Cr shares), combining a fresh issue of 0.53 Cr shares (Rs. 400 Cr) and offer for sale of 0.38 Cr shares (Rs. 287.34 Cr).

Atlanta Electricals IPO Details

• IPO Opening Date: Sep 22, 2025
  

• IPO Closing Date: Sep 24, 2025
  

• IPO Allotment Date: Sep 25, 2025
  

• Refund Initiation: Sep 26, 2025
  

• Tentative Listing Date: Sep 29, 2025
  

• Issue Size: Rs. 687.34 Cr
  

• Price Band: Rs. 718 – Rs. 754 per share
  

• Lot Size: 19 Shares
  

• Listing: BSE & NSE
  

• Registrar: MUFG Intime India Pvt. Ltd.
  

Hidden Facts & Risks

• A civil lawsuit is ongoing regarding land acquisition for the Vadod Unit, valued at Rs. 55.62 million.
  

• Funds flowed circularly from AEL to BTW-Atlanta Transformers to repay previous debts, increasing debt-equity risk.
  
  

These issues add risk to the IPO despite strong financials.

Industry Outlook

The domestic transformer market grew 10.4% between 2019 and 2023 and is expected to grow at a CAGR of ~6-7% from 2024–2030, indicating a positive long-term outlook for Atlanta Electricals.

IPO Strengths

• Broad and diversified product portfolio.
  

• Strong client base and robust order book.
  

• Experienced management team and skilled workforce.
  

• Historical profitability in a high-barrier industry.
  

IPO Weaknesses

• High acquisition financing debt.
  

• Heavy balance sheet with goodwill and intangibles.
  

• Vadod plant land litigation.
  

• Stress on working capital in subsidiaries.
  

Atlanta Electricals IPO GMP

• As of 17 Sep 2025, GMP has not yet started.
  

• The estimated listing price will depend on market response and demand.
  

Atlanta Electricals IPO Lot Size & Reservation

• Retail Investors: 1 Lot (19 Shares – Rs. 14,326) to 13 Lots (247 Shares – Rs. 1,86,238)
  

• S-HNI Investors: Min 14 Lots (266 Shares – Rs. 2,00,564) to Max 69 Lots
  

• Institutional Share Portion: 50%
  

• Retail Investors: 35%
  

• Non-Institutional Shares: 15%
  

IPO Allotment Status

Check allotment at:

• BSE IPO Allotment Status
  

• Registrar’s official portal (MUFG Intime India Pvt. Ltd.)
  
  

Promoters & Management

• Krupeshbhai Narharibhai Patel
  

• Niral Krupeshbhai Patel
  

• Amish Krupeshbhai Patel
  

• Tanmay Surendrabhai Patel
  

• Patel Family Trustee Private Limited
  

• Atlanta UHV Transformers LLP
  

Promoter Shareholding: Pre-Issue 94.36%, Post-Issue 86.97%

Lead Manager: Motilal Oswal Investment Advisors Ltd.

Dividend Policy

The company has not paid any dividend in the last three fiscal years.

The Atlanta Electricals IPO offers exposure to a company with strong financial growth, diversified clients, and a robust transformer market presence. However, investors should consider risks like high debt, goodwill on the balance sheet, and ongoing litigation. While the IPO appears aggressively priced, the transformer sector outlook is positive, offering long-term growth potential for careful investors.