Atlanta Electricals IPO: The initial public offering (IPO) of Atlanta Electricals closed with strong bids on the third and final day of subscription on Wednesday, September 24.
The issue sailed through yesterday, September 23, closing with 3 times bids, while it ended the first day of bidding with 97% subscription.
Atlanta Electricals IPO Subscription
Meanwhile, on the last day, today, Atlanta Electricals IPO witnessed 70.63 times bids as investors applied for 46,17,85,899 shares as against 65,38,439 shares on offer, according to data from BSE.
The category for Qualified Institutional Buyers (QIBs) was booked 194.92 times, the Non-Institutional Investors 54.20 times and the retail investors 10.42 times.
Atlanta Electricals IPO GMP
Atlanta Electricals is enjoying a strong grey market premium (GMP). As of today, Atlanta Electricals IPO GMP was ₹110. At the prevailing GMP, Atlanta Electricals IPO listing price could be ₹864, a premium of 15% over the upper end of the price of ₹754.
Grey market premium shows investors’ willingness to pay over and above the issue price. However, it is subject to swift changes and shouldn’t be the only investment criterion.
Atlanta Electricals IPO Details
Atlanta Electricals IPO was a combination of a fresh issue of equity shares worth ₹400 crore and an offer for sale (OFS) of 38.1 lakh equity shares valued at ₹287 crore. The ₹687-crore IPO was priced at ₹718-754 per share.
The company proposes to deploy the fresh proceeds from the issue for payment of debt, supporting working capital requirements of the company and for general corporate purposes.
Investors could apply for the IPO in lots of 19 shares and multiples thereof. Following the closure of the public offer, investor focus will now shift to the Atlanta Electricals IPO allotment, slated to be finalised on Thursday, September 25.
Meanwhile, the listing of Atlanta Electricals IPO is expected to take place on September 29 on the BSE and NSE.
The company manufactures power, auto and inverter duty transformers in India.
Motilal Oswal Investment Advisors and Axis Capital are the book-running lead managers to the issue.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
