Atlanta Electricals IPO

Company Overview:

Incorporated in 1988, Atlanta Electricals Limited is a leading transformer manufacturer in India, specializing in power, auto, and inverter-duty transformers.

As of March 31, 2025:

• Portfolio spans 6 transformer products including power, inverter-duty, furnace, and generator transformers.

• Presence across 19 states & 3 union territories in India.

• Supplied 4,400 transformers with a total capacity of 94,000 MVA to state grids, private players, and renewable projects.

• Export footprint includes USA, Kuwait, and Oman.

The company operates five manufacturing units (four functional) – two in Anand (Gujarat), one in Bengaluru (Karnataka), and a new facility at Vadod (commercial production from July 2025).

Customer base of 208+ clients, including big names like GETCO, Adani Green Energy, TATA Power, and SMS India.

Objects of the Issue:

1. Capital Expenditure: ₹210 Cr

2. Debt Repayment / Prepayment: ₹79.1 Cr

3. General Corporate Purposes & Misc.: ₹110.9 Cr

Strengths:

• 30+ Years Expertise: Strong legacy in transformer manufacturing.

• Wide Product Range: Serves both traditional & renewable power needs.

• Diverse Client Base: 208 customers, including marquee names.

• Export Opportunities: International presence in USA, Kuwait & Oman.

• Strong Order Book: Backed by demand from power & renewable sectors.

• Conservative Debt Policy: Ensures financial stability.

Weaknesses:

• Leased Premises Dependency: Manufacturing relies heavily on rented facilities.

• Cash Flow Risk: Customer defaults may impact liquidity.

• Execution Risk: Delays in Vadod facility may hamper growth plans.

• Promoter Guarantee Clause: Revocation could trigger loan repayment.

• Regulatory / Legal Issues: Limited recourse due to missing corporate records.

• Sector Cyclicality: Power sector demand can fluctuate with govt. policies.

Atlanta Electricals IPO: Key Details

- IPO Dates: 22 – 24 September 2025

- Price Band: ₹718 to ₹754 per share

- Lot Size: 19 Shares

- Total Issue Size: ₹687.34 Cr

- Retail Quota: 35%

- GMP (for reference only): 12%

Allotment Link

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