Atlanta Electricals IPO Subscribed 0.80x; Price Band Shared

Atlanta Electricals IPO: With a 0.80 times subscription on its opening day, the Atlanta Electricals IPO saw a robust reaction. Subscriptions will be accepted through September 24th.

Discover the price range and other information about this IPO, which was subscribed to 0.80 times on the first day and is booming in the gray market.

Atlanta Electricals IPO: Transformer manufacturer Atlanta Electricals has gone public with its initial public offering (IPO). The deadline for bids is September 24. On its first day, the IPO received 0.80 times the initial subscription, indicating a great start. Investor interest in the ₹687.34 crore (about $1.6 billion) first public offering is high.

On the first day, how much was the bid?

The QIB category placed greater bids on it. The retail and NII categories responded favorably to it as well. Non-institutional investors subscribed 0.67 times, retail investors 0.75 times, and the QIB category 1.00 times.

With 0.53 crore new shares valued at ₹400 crore and 0.38 crore shares valued at ₹287.34 crore offered through an offer-for-sale (OFS) window, Atlanta Electricals’ IPO is a book-built offering. On September 25th, shares will be distributed, and on September 29th, the company is anticipated to list on the BSE and NSE.

GMP for Atlanta Electricals’ IPO

In the gray market, the company’s stock is likewise doing well. Around 12:33 p.m. on September 22, the GMP for Atlanta Electricals’ initial public offering (IPO) was ₹125, according to InvestorGain. This suggests that its listing price might be ₹879. This indicates that a profit of roughly 16.58% per share might be anticipated by investors. On August 21st, its GMP was ₹142, indicating a sharp drop in just one day. A price range of ₹718 to ₹754 per share has been established for the first public offering.

What does the business do?

This company was founded in 1983 and produces transformers. The company, which has its headquarters in Anand, Gujarat, has been in the power, auto, furnace, and inverter-duty transformer business for more than 30 years. It now operates three manufacturing facilities in Bengaluru and Anand, while a fourth is being built in Vadodara. About 4,000 transformers with a combined capacity of 78,000 MVA have been supplied by Atlanta Electricals to 19 Indian states and three union territories.

Disclaimer: (The data presented here is intended solely for informational purposes.) It is crucial to remember that market dangers exist when investing in the market. Always consult a professional before investing. We never advise investing here.)

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