ATC Energies share price debuts at 9% discount on NSE SME exchange

Shares of ATC Energies made their debut on the Indian stock market on Wednesday, April 2. The shares were listed at a 9.3 per cent discount to the issue price on the National Stock Exchange (NSE) SME platform at ₹107. The issue price for ATC Energies' initial public offering (IPO) was ₹118.

ATC Energies share price fell another 5 per cent to ₹101.65 apiece on the NSE after listing due to selling pressure on the counter.

ATC Energies IPO details

ATC Energies IPO comprised a mix of fresh equity along with an offer-for-sale component. The SME IPO, worth ₹63.76 crore, was open for bidding from March 25 to March 27, in a price range of ₹112 and ₹118 per share.

The IPO saw tepid demand, achieving a subscription of 1.61 times over three days. It received bids for 67.87 lakh shares against the 42.09 lakh shares available. The retail investor segment was subscribed 2.49 times, while the non-institutional investors (NII) quota was subscribed 0.81 times. Meanwhile, the QIB portion attracted 1.38 times bids.

Net proceeds amounting to ₹64 crore will be utilised for debt repayment, capital expenditure, working capital needs, and general corporate purposes.

ATC Energies manufactures and supplies lithium-ion batteries, providing efficient and cost-effective energy storage solutions for industries like banking and automotive.

The company operates production facilities in Vasai, Thane, and Noida, spanning approximately 3,160 square meters. These factories are equipped with advanced machinery, an integrated development and assembly system, and quality testing facilities. They produce both standard and customized lithium batteries to meet diverse industry needs.

The company's founder, a first-generation entrepreneur with over 25 years of experience in the chemical, electrical, and industrial equipment sectors, began by trading equipment. Over time, he leveraged his industry expertise and customer relationships to set up a manufacturing unit for lithium-ion batteries.

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