Atlanta Electricals IPO opens today: GMP signals strong listing, should you subscribe?

Investors can bid for a minimum of 19 shares, requiring an investment of Rs 14,326 at the upper price band, and in multiples thereafter. The allotments will likely be finalized by September 25, and the shares are scheduled to be listed on stock exchanges on September 29.

Motilal Oswal Investment Advisors, and Axis Capital are acting as the merchant bankers for the Atlanta Electricals IPO.

Atlanta Electricals IPO GMP:

Ahead of listing, the unlisted shares of the company were trading with nearly 19 percent grey market premium (GMP) over the IPO price, according to data on Investorgain. This is higher than the 17 percent GMP quoted by the site earlier last week.

According to IPO Watch, the unlisted shares of the company were trading with nearly 19 percent GMP over the IPO price.

Atlanta Electricals IPO Anchor Book:

Before the IPO opened for public bidding, the company announced on September 19 that it has raised Rs 204.7 crore from 11 anchor investors including five asset management companies. Kotak AMC, Axis Mutual Fund, Pinebridge Global Funds, HSBC MF, Nippon India, Allianz Global Investors Fund, Ashoka Whiteoak, HDFC Mutual Fund, ICICI Prudential Life Insurance, and Valuequest India were among the 11 investors in the anchor book.

Should you subscribe?

Atlanta Electricals Limited (AEL) is one of India’s leading manufacturers of power, auto, and inverter duty transformers by production volume as of fiscal 2025, said HDFC Securities. It added that the company is well-positioned to capture the industry tailwinds.

"The Indian transformer components market plays a significant global role, with India ranking as the sixth largest exporter in 2022, shipping components valued at USD 468 million to key markets such as the United States, Kuwait, and Oman, while also importing USD 538 million worth primarily from China, Germany, and Vietnam. This dual dynamic underscores India's position as both a major producer and consumer of transformer components," it added.

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