Atlanta Electricals files draft papers with SEBI for IPO

Atlanta Electricals Limited has filed its DRHP with SEBI for an IPO, aiming to raise ₹400 crore via new equity shares (₹2 each) and an offer for sale of 3,810,895 existing shares. A portion is reserved for employee subscriptions.

With over 30 years of experience, Atlanta Electricals manufactures transformers from 5 MVA/11 kV to 200 MVA/220 kV. It is one of India’s few capable of producing such high-capacity transformers and operates across the country, serving various sectors.

In 2021, Atlanta secured an order for eight 80 MVA, 220/33 kV transformers for the Ultra Mega Solar Park in Andhra Pradesh, supporting India’s renewable energy transition. This highlights the company’s leadership in the green energy sector.

The promoters include Krupeshbhai, Niral, Amish, Tanmay Patel, family trusts like Narharibhai S. Patel Family Trust, and ATLANTA UHV TRANSFORMERS LLP, guiding the company through its IPO process to expand its business and financial footprint.

The IPO involves issuing ₹400 crore worth of new equity shares and an offer for sale of up to 3,810,895 existing shares. Proceeds will repay debt, fund working capital, and cover general corporate purposes to support future growth.

A portion of the IPO shares will be reserved for eligible employees, giving them the opportunity to subscribe. This encourages employee engagement and aligns their interests with the company’s long-term growth and performance.

Proceeds from the IPO will be used for debt repayment, working capital needs, and general corporate purposes, helping strengthen Atlanta Electricals’ financial position and support its expansion plans across sectors.

Before the DRHP filing, Atlanta may raise up to ₹80 crore via Pre-IPO Placement through preferential placement or other permissible methods. Motilal Oswal Investment Advisors Ltd and Axis Capital Ltd are the IPO’s Book Running Lead Managers.