Atlanta Electricals Files for IPO with SEBI

Atlanta Electricals, a leading manufacturer of power, auto, and inverter duty transformers, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The public issue consists of a fresh equity share issuance worth ₹400 crore and an offer-for-sale (OFS) of up to 38.11 lakh equity shares. The company aims to utilise the proceeds for debt repayment, working capital requirements, and general corporate purposes.

IPO Details and Fund Utilisation

The IPO will include a fresh issue of shares amounting to ₹400 crore, alongside an OFS component where existing stakeholders—Atlanta UHV Transformers LLP, Hemang Harendra Shah, Nimish Harendra Shah, Dhaval Harshadbhai Mehta, Gitaben Harshadbhai, and Jignesh Suryakant Patel—will divest a portion of their holdings. The funds raised will primarily be allocated towards repaying or prepaying outstanding borrowings, meeting working capital needs, and supporting general corporate activities. Motilal Oswal Investment Advisors Limited and Axis Capital Limited have been appointed as the book-running lead managers for the issue.

Company Overview and Market Position

With over 30 years of experience, Atlanta Electricals has established itself as a key player in India’s transformer manufacturing industry. The company supplies transformers ranging from 5 MVA/11 kV to 200 MVA/220 kV and is among the few manufacturers in India capable of producing transformers up to 200 Mega Volt-Amp (MVA) capacity with 220 kilovolts voltage, as per a CRISIL report. With a pan-India presence, the company continues to expand its reach in the power sector.

Conclusion

Atlanta Electricals’ IPO marks a significant milestone in its growth trajectory, providing an opportunity for investors to participate in the company’s expansion. With strong industry experience and a well-defined utilisation plan for the IPO proceeds, the company aims to strengthen its financial position and market presence.

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