Atlanta Electricals IPO GMP hits at a strong debut - here's what grey market says?

Atlanta Electricals IPO GMP: The grey market premium (GMP) has hinted at a strong debut for Atlanta Electricals shares, scheduled to list on Monday, September 29. The allotment for the initial public offering (IPO) was finalised on September 25, following the subscription window that opened on September 22 and closed on September 24. The IPO was offered at a price band of ₹718-754 apiece.

Atlanta Electricals IPO GMP

The grey market premium (GMP) for Atlanta Electricals IPO stood at 98. This implied potential listing gains of around 13 percent, with shares expected to list at ₹852 as against the upper price band of ₹754.

Atlanta Electricals IPO Details

Atlanta Electricals’ ₹687.34 crore initial public offering (IPO) consists of a fresh issue of 0.53 crore shares worth ₹400 crore, along with an offer-for-sale of 0.38 crore shares valued at ₹287.34 crore.

Retail investors could apply for a minimum of 19 shares, translating into an investment of ₹14,326 at the top end of the price band. The company planned to finalise the allotment on September 25, with shares set to list on both NSE and BSE on September 29. The IPO also set aside 73,099 shares for employees, offered at a discount of ₹70 per share.

The issue attracted strong interest, being subscribed 72.16 times overall. QIBs led the response with 194.77 times subscription, followed by non-institutional investors at 55.82 times and retail investors at 10.72 times. The employees’ portion was oversubscribed 3.47 times. Anchor investors contributed ₹204.70 crore on September 19, reflecting strong pre-listing support.

Atlanta Electricals intends to use the proceeds to repay or prepay certain outstanding borrowings, support working capital needs, and meet general corporate purposes.

Motilal Oswal Investment Advisors Ltd. served as the book-running lead manager, while MUFG Intime India Pvt. Ltd. was the registrar for the issue.

Company Overview

Founded in December 1988, Atlanta Electricals Limited manufactures power, inverter-duty, auto, furnace, generator, and special-duty transformers across India. As of March 31, 2025, the company had supplied 4,400 transformers with a combined capacity of 94,000 MVA to state and national grids, private players, and renewable energy projects. Its operations span five manufacturing facilities, four of which are fully functional, including two in Anand, Gujarat, one in Bengaluru, Karnataka, and a recently commissioned unit in Vadodara that began production in July 2025. The company serves clients in 19 states and three union territories, establishing a strong presence in the Indian transformer market.