New Delhi, September 29 (HS): Electrical transformer manufacturer Atlanta Electricals made a resounding debut in the stock markets today, delighting its IPO investors with impressive listing gains. Issued at ₹754 per share, the company’s stock opened with a strong premium — listing at ₹858.10 on the BSE, up 13.8 percent, and at ₹857 on the NSE, a 13.6 percent premium.

Post-listing, the stock briefly touched a high of ₹865, before slipping to an intraday low of ₹806.25 due to selling pressure. By 11:30 a.m., the shares were trading at ₹830.55, delivering a handsome 10.15 percent return to IPO investors on the first day itself.

Atlanta Electricals’ ₹687.34 crore IPO, open for subscription from September 18 to 22, witnessed an overwhelming response from investors. The issue was oversubscribed an impressive 72.16 times, driven largely by institutional demand.

The Qualified Institutional Buyers (QIB) portion attracted a massive 194.77 times subscription, while Non-Institutional Investors (NII) subscribed 55.82 times. Retail investors’ quota was subscribed 10.76 times, and the employee category 3.47 times.

The IPO included a fresh issue of 53 lakh equity shares worth ₹400 crore and an Offer for Sale (OFS) of 38 lakh shares. Proceeds from the fresh issue will be utilized to reduce debt, meet working capital requirements, and fund general corporate purposes.

According to the company’s prospectus, Atlanta Electricals has exhibited fluctuating financial performance in recent years. In FY 2022–23, it posted a net profit of ₹87.54 crore, which declined to ₹63.36 crore in FY 2023–24. However, profits rose sharply to ₹118.65 crore in FY 2024–25. Revenue also grew at an impressive compound annual growth rate (CAGR) of over 43 percent, reaching ₹1,250.49 crore.

The company’s debt levels, however, showed volatility. Total borrowings stood at ₹73.09 crore at the end of FY 2022–23, reduced to ₹48.60 crore by FY 2023–24, but later surged to ₹141.03 crore by the close of FY 2024–25.

Hindusthan Samachar / Jun Sarkar