Atlanta Electricals IPO will open for subscription on September 22, 2025, and close on September 24, 2025. Incorporated in December 1988, Atlanta Electricals Limited is a long-standing manufacturer of power, auto, and inverter duty transformers in India.
Over the years, the company has expanded its product portfolio to include six categories: power transformers, inverter-duty transformers, furnace transformers, generator transformers, and special-duty transformers.
So, let’s get into the details of Atlanta Electricals IPO, including timelines, issue proceeds, financials, peers, and risk factors.
Atlanta Electricals IPO Date
The key pointers for the Atlanta Electricals IPO dates are:
- Bidding Opening Date: September 22, 2025
- Bidding Closing Date: September 24, 2025
- Allotment Date: September 25, 2025
- Initiation of Refunds (in case of less or no allotment): September 26, 2025
- Shares Credited to Your Demat Account: September 26, 2025
- IPO Listing Date: September 29, 2025
- Listing on Exchange: BSE and NSE
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Atlanta Electricals IPO Issue Size
Atlanta Electricals IPO valuation, as denoted by the market capitalisation, stood at ₹5,797.49 crores. Here are the essential details:
- Atlanta Electricals IPO Price Band: ₹718 to ₹754 per share
- Lot Size: 19 Shares
- Issue Size and Amount: 91 lakh shares (aggregating up to ₹687.34 crores)
- Fresh Issue and Amount: 53 lakh shares (aggregating up to ₹400 crores)
- Offer for Sale and Amount: 38 lakh shares of ₹2 (aggregating up to ₹287.34 crores)
Atlanta Electricals IPO Proceeds Usage
Atlanta Electricals plans to use the funds raised from the IPO mainly for three purposes.
- A part of the money will go towards repaying or prepaying some of its existing loans, amounting to about ₹79.12 crores.
- Another ₹210 crores will be set aside to meet the company’s working capital needs, which include covering day-to-day operational expenses.
- The remaining portion will be used for general corporate purposes, supporting overall business growth and future requirements.
Atlanta Electricals IPO Reservations
Atlanta Electricals IPO reservations to different investors are:
- For QIBs: Not more than 50% of the Net offer
- For NIIs: Not less than 15% of the Net Offer
- For Retail Investors: Not less than 35% of the Net Offer
Atlanta Electricals IPO Lot Size
Atlanta Electricals IPO lot size is 19 shares, wherein bidding can be done in multiples. The minimum amount that each category of investor needs to bid in this IPO is:
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 19 | 14,326 |
| S-HNI (Min) | 14 | 266 | 2,00,564 |
| B-HNI (Min) | 70 | 1,330 | 10,02,820 |
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Atlanta Electricals IPO Details: Promoter Holding
The promoters of the Company are Krupeshbhai Narharibhai Patel, Niral Krupeshbhai Patel, Amish Krupeshbhai Patel, Tanmay Surendrabhai Patel, Patel Family Trustee Private Limited and Atlanta UHV Transformers LLP.
Atlanta Electricals Ltd: Company Overview
Atlanta Electricals Limited, incorporated in December 1988, is engaged in the manufacturing of power, auto, and inverter duty transformers in India.
Over the years, the company has built a broad portfolio that, as of March 31, 2025, includes six key products: power transformers, inverter-duty transformers, furnace transformers, generator transformers, and special-duty transformers. Its solutions cater to a wide range of energy requirements, from national and state grids to private sector players and renewable energy projects.
By the end of March 2025, Atlanta Electricals had supplied about 4,400 transformers with a combined capacity of 94,000 MVA across 19 states and three union territories. The company operates five manufacturing facilities, of which four are functional, including two units in Anand, Gujarat, one in Bengaluru, Karnataka, and a newly commissioned facility at Vadod, which began commercial production in July 2025.
Its customer base is diverse, consisting of 208 clients, among them prominent names such as GETCO, Adani Green Energy, TATA Power, and SMS India. The company has also established a presence in international markets, exporting its products to countries such as the United States, Kuwait, and Oman.
Key Strengths
Atlanta Electricals’ strengths lie in its broad and well-diversified product portfolio, with a strong focus on product development tailored to meet customer needs.
It has a healthy order book and a wide-ranging customer base, supported by an experienced management team and qualified professionals with significant industry expertise.
The company’s manufacturing capabilities emphasise quality, regulatory compliance, and high safety standards, enabling it to maintain a solid track record of profitability and consistent financial performance in an industry that has high entry barriers.
Atlanta Electricals Limited: Financial Performance
Atlanta Electricals IPO key financials for different periods are as follows:
| Particulars (in ₹ Cr) | 31 Mar 2025 | 31 Mar 2024 | YoY Change |
|---|---|---|---|
| Total Income | 1,250.49 | 872.05 | 43% |
| Profit After Tax (PAT) | 118.65 | 63.36 | 87% |
| EBITDA | 199.88 | 123.16 | 62% |
| Net Worth | 349.90 | 228.47 | 53% |
| Assets | 866.19 | 559.25 | 55% |
| Total Borrowings | 141.03 | 48.60 | 190% |
- Revenue Growth: Total income increased by 43%, rising from ₹872.05 crore in FY24 to ₹1,250.49 crore in FY25, showing solid demand for transformers and expansion of business operations.
- Profitability: PAT grew sharply by 87%, moving up from ₹63.36 crore in FY24 to ₹118.65 crore in FY25, reflecting stronger margins and earnings performance.
- EBITDA Performance: EBITDA improved by 62%, increasing from ₹123.16 crore in FY24 to ₹199.88 crore in FY25, supported by operational efficiencies and better scale utilisation.
- Strengthened Net Worth: Net worth rose by 53%, from ₹228.47 crore in FY24 to ₹349.90 crore in FY25, backed by higher retained profits and business growth.
- Asset Base: Total assets expanded by 55%, moving from ₹559.25 crore in FY24 to ₹866.19 crore in FY25, highlighting investments in facilities and resource expansion.
- Debt Position: Borrowings climbed from ₹48.60 crore in FY24 to ₹141.03 crore in FY25, primarily to fund expansion and capacity additions.
Atlanta Electricals IPO: Peer Comparison
Here’s the peer comparison table for Atlanta Electricals IPO with its listed peers:
| Company Name (FY25) | EPS (Basic ₹) | P/E (x) | RoNW (%) |
|---|---|---|---|
| Atlanta Electricals Limited | 16.57 | 46.33 | 33.91 |
| Voltamp Transformers Limited | 321.65 | 22.15 | 20.50 |
| Transformers and Rectifiers India Limited | 7.21 | 69.97 | 17.29 |
| Danish Power Limited | 34.55 | 25.80 | 18.00 |
- EPS: Atlanta Electricals has an EPS of ₹16.57, higher than Transformers and Rectifiers India (₹7.21) but lower than Voltamp (₹321.65) and Danish Power (₹34.55).
- P/E Ratio: Its P/E of 46.33 is higher than Voltamp (22.15) and Danish Power (25.80), but lower than Transformers & Rectifiers (69.97), showing a moderate market valuation.
- RoNW: Atlanta Electricals leads its peers with a RoNW of 33.91%, compared to Voltamp (20.50%), Danish Power (18.00%), and Transformers & Rectifiers (17.29%), reflecting strong returns for shareholders.
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- 20 Lac+ unique clients
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Atlanta Electricals IPO Risk Factors
Atlanta Electricals IPO GMP is ₹154 as of September 20, 2025 (at 13:31). It is expected to list at a 20.42% gain at a price of ₹908. However, GMP is not a safe or assured criterion to bid for an IPO. It is important to do your own analysis before investing in any IPO.
Atlanta Electricals IPO is exposed to various risk factors that can eventually affect its business and investors’ perception:
- Regional Concentration Risk: A large portion of revenue comes from transformer manufacturing in Gujarat, so any disruptions in the region could significantly affect the business, financial condition, and operations.
- Dependence on Government Contracts: A significant share of revenue is derived from government contracts through competitive tenders. Lower success in these tenders could negatively impact the business.
- Reliance on Utilities and Policy Risk: Much of the business depends on supplying transformers to utilities, with demand closely tied to government policies. Economic slowdowns or policy changes could adversely affect operations.
- Potential Conflict of Interest: One of the corporate promoters, Atlanta UHV Transformers LLP, shares common interests with the company, which could create potential conflicts in the future.
- Customer Concentration Risk: A substantial portion of revenue comes from top customers, and losing any of them could materially impact revenues and profitability.
For all the insights on Atlanta Electricals IPO and detailed expert advice, you can download the SMC ACE App or visit the SMC telegram channels. Take smart decisions and apply for the Atlanta Electricals IPO easily on the SMC ACE Apply by opening free demat account now.
Frequently Asked Questions – FAQs
1. What are the IPO dates for Atlanta Electricals Limited?
The IPO opens for subscription on September 22, 2025, and closes on September 24, 2025. The allotment is expected on September 25, 2025, with the tentative listing date set as September 29, 2025, on both BSE and NSE.
2. What is the price band and lot size for the IPO?
The IPO price band is fixed at ₹718 to ₹754 per share, with a lot size of 19 shares. Investors can bid in multiples of 19 shares, with a minimum investment of ₹14,326.
3. How much is Atlanta Electricals aiming to raise through this IPO?
The issue size is 91 lakh shares, aggregating up to ₹687.34 crores. This includes a fresh issue of ₹400 crores and an offer for sale of shares worth about ₹287.34 crores.
4. How will the company use the IPO proceeds?
The funds will be used to repay borrowings, meet working capital needs, and for general corporate purposes such as business growth and operational requirements.
5. Who are the promoters of Atlanta Electricals Limited?
The promoters include Krupeshbhai Narharibhai Patel, Niral Krupeshbhai Patel, Amish Krupeshbhai Patel, Tanmay Surendrabhai Patel, Patel Family Trustee Private Limited, and Atlanta UHV Transformers LLP.
References:
https://www.axiscapital.co.in/contents/Atlanta%20Electricals%20Limited-RHP-1758082624.pdf
https://www.investorgain.com/gmp/atlanta-electricals-ipo-gmp/1446/
Author: All Content is verified by SMC Global Securities.
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