ATC Energies System IPO subscribed 1.61x on Day 3 so far; check GMP, subscription status, issue details, more

ATC Energies System IPO has opened for subscription on Tuesday, March 25, and will close on Thursday, March 27. ATC Energies System IPO price band has been fixed in the range of ₹112 to ₹118 per equity share of face value of ₹10 each. Bids can be made for a minimum of 1,200 equity shares and in multiples of 1,200 equity shares thereafter.

Founded in 2020, ATC Energies System Limited is a firm operating within the energy sector, dedicated to delivering energy solutions, products, and services.

The company manufactures and provides cost-effective, high-efficiency lithium and Li-ion batteries, supplying integrated energy storage solutions to sectors such as banking, automotive, and various end users.

ATC Energies began by creating small batteries tailored for the banking sector and has now expanded to produce batteries in multiple sizes, offering tailored solutions for different industries and applications through in-house design and engineering.

The company has its registered office located in Mumbai, with production facilities situated in Vasai, Thane, and Noida. These facilities are equipped with state-of-the-art machinery for battery assembly, including temperature chambers, welding systems, and testing equipment.

As per Red Herring Prospectus (RHP), the company's listed peers are Eveready Industries India Ltd (with a P/E of 36.08), and High Energy Batteries India Ltd (with a P/E of 26.00).

ATC Energies System IPO subscription status

ATC Energies System IPO subscription status is 1.61 times, on day 3, so far. The retail portion was subscribed 2.49 times, and NII portion was booked 81%. Qualified Institutions Buyers portion is subscribed 1.38 times.

At 17:09 IST, the company has received bids for 67,84,800 shares against 42,09,600 shares on offer, according to data on chittorgarh.com

ATC Energies System IPO subscription status was 54%, on day 1, and the issue was booked 98% on the second bidding day.

ATC Energies System IPO details

ATC Energies System IPO consists of fresh issue of shares of up to ₹51.02 crore and an offer for sale (OFS) of up 10,80,000 equity shares of face value of ₹10 each by a promoter selling shareholder.

ATC Energies System IPO plans to use the net proceeds from the issue for several purposes, including the complete repayment or pre-payment of loans taken by the Company for the purchase of the Noida factory; covering the capital expenditure needs for refurbishment, civil work, and upgrades at the Noida factory; financing the capital expenditure for IT improvements at both the Noida and Vasai factories as well as at the registered office; addressing the working capital needs of the Company; and fulfilling general corporate purposes.

Indorient Financial Services Ltd serves as the book-running lead manager for the ATC Energies IPO, whereas Kfin Technologies Limited acts as the registrar for this offering. The market maker for the ATC Energies IPO is Alacrity Securities Ltd.

ATC Energies System IPO GMP today

ATC Energies System IPO GMP today or grey market premium is +4. This indicates ATC Energies System share price was trading at a premium of ₹4 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of ATC Energies System share price is indicated at ₹122 apiece, which is 3.39% higher than the IPO price of ₹118.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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