Atlanta Electricals shares made a decent market debut; stock lists at 14% premium

Shares of Atlanta Electricals made a decent Dalal Street debut on Monday, September 29, as the manufacturer of transformers was listed at Rs 858.10 on NSE, a premium of 13.81 per cent over issue price of Rs 754 apiece. The stock kicked-off its maiden trading session at a premium of 13.66 per cent over the issue price at Rs 857 on BSE.

However, listing of Atlanta Electricals has slightly below the expectations. Ahead of its listing, shares of Atlanta Electricals were commanding a grey market premium (GMP) of Rs 112-115 per share in the unofficial market, suggesting a listing of up to 15 per cent to the investors. The GMP stood around Rs 135, when the issue was running for bidding.

As of listing price, retail investors, who received a single lot of 19 equity shares, made a profit of Rs 1,978 on their investment of Rs 14,326. Similarly, HNI investors, who got 266 equity shares worth Rs 2,00,564, made a profit of Rs 27,690 on their investment as of listing price.

The IPO of Atlanta Electricals was open for bidding between September 22 and September 24. It had offered its shares in the price band of Rs 718-754 per share with a lot size of 19 shares. It raised a total of Rs 687.34 crore from its IPO, which included a fresh share sale of Rs 400 crore and an offer-for-sale (OFS) of up to 38,10,895 equity shares.

The issue was overall subscribed 70.63 times, fetching nearly 17.08 lakh applications, attracting bids for more than Rs 34,800 crore. The portion for qualified-institutional bidders (QIBs) was subscribed a solid 194.92 times. The quota for non-institutional investors (NIIs) was booked 54.21 times. The portion for retail investors and employees were booked 10.42 times and 3.29 times, respectively.

Anand, Gujarat-based Atlanta Electricals, incorporated in December 1988, manufactures power, auto and inverter duty transformers in India. Its portfolio comprises six products including power transformers, inverter-duty transformers, furnace transformers, generator transformers, and special-duty transformers as of March 31, 2025.

Brokerage firms were mostly positive on the issue, suggesting to subscribe to long-term Motilal Oswal Investment Advisors and Axis Capital were the book running lead managers for Atlanta Electricals IPO and MUFG Intime India served as the registrar of the issue.