Gujarat-based power transformers manufacturer Atlanta Electricals has raised Rs 204.7 crore from 11 anchor investors including five asset management companies on September 19.
The Rs 687-crore IPO will open for public subscription next week on September 22, and close on September 24, with price band of Rs 718-754 per share.
"...has finalised allocation of 27,14,885 equity shares to anchor investors at Rs 754 per share," Atlanta Electricals in its filing to exchanges said.
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.
"Out of the total allocation of 27.14 lakh shares to anchor investors, 15.91 lakh shares are allocated to five mutual funds," the company said.
Atlanta Electricals will issue fresh shares worth Rs 400 crore, while promoter Atlanta UHV Transformers and other shareholders will sell 38.1 lakh shares worth Rs 287.3 crore via offer-for-sale.
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The company will use Rs 79.1 crore of fresh issue proceeds for repaying debt, and Rs 210 crore for working capital requirements, while the remainder fresh issue funds will be set aside for general corporate purposes.
Atlanta Electricals, which is valued at Rs 5,800 crore, manufactures power, auto and inverter duty transformers with a capacity up to 500 MVA (mega volt-amp) and with 765 kV (kilovolts). It has an order book of Rs 1,643 crore as of March 2025.
Motilal Oswal Investment Advisors, and Axis Capital are acting as the merchant bankers for the Atlanta Electricals IPO.
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