India’s electricity per capita consumption is forecast to rise from 1,400 kilowatt hours (KWh) in 2024 to 2,575 kWh by 2035, nearly 3X the present demand. This points to the scale of opportunity in the sector,
For investors, the Atlanta Electricals IPO could be a ticket to growth in this expanding space. The company ranks among the major producers of power, auto and inverter duty transformers in the country by production volume in FY24.
The issue is overseen by Axis Capital Limited and Motilal Oswal Investment Advisors Limited, with MUFG Intime India Private Limited as registrar.
What follows is a closer look at Atlanta Electricals IPO review, its structure, financials and other details like Atlanta Electricals IPO subscription.
Atlanta Electricals IPO Details
The public issue has been launched with the aim of raising funds through a mix of fresh equity and an offer-for-sale. The Atlanta Electricals IPO lot size is fixed at 19 shares. Here are the main details of the offer:
| Particular | Description |
| IPO Open Date | 22 September 2025 |
| Close Date | 24 September 2025 |
| Face value (₹) | 2 |
| Price Band (₹) | 718 – 754 |
| Issue price | – |
| IPO Lot Size (shares) | 19 |
| Sale type | Fresh issue + Offer for sale |
| Offer for sale (₹ Cr) | 400 (53,05,039 shares) |
| Fresh issue (₹ Cr) | 287.34 ( 38,10,895 shares) |
| Issue Type | Book Built, Mainboard IPO |
| Listing at | NSE, BSE |
| Total Issue Size (₹ Cr) | 687.34 |
| Reserved for Market Maker | NA* |
| Net Offered to Public | 3,167,368 |
| Minimum Investment (₹) | 14,326 |
| Retail Discount | – |
*NA= Not Applicable
Atlanta Electricals IPO Timeline
Here are the key Atlanta Electricals IPO details India, covering important dates from opening to listing.
| Event | Date |
| IPO Open Date | 22 September 2025 |
| IPO Close Date | 24 September 2025 |
| Tentative Allotment | 25 September 2025 |
| Initiation of Refunds | 26 September 2025 |
| Credit of Shares to Demat | 26 September 2025 |
| Tentative Listing Date | 29 September 2025 |
| Cut-off time for UPI mandate confirmation | 24 September 2025 (5 PM) |
Atlanta Electricals IPO Grey Market Premium (GMP Today)
The Atlanta Electricals IPO GMP shows investor sentiment in the unofficial market ahead of listing. Here’s the following update on the grey market trend:
| Date | GMP (₹) | Estimated Listing Price (₹) |
| 22 Sept 2025 | 140 | 894 |
| 21 Sept 2025 | 142 | 896 |
| 20 Sept 2025 | 137 | 891 |
| 19 Sept 2025 | 144 | 898 |
| 18 Sept 2025 | 125 | 879 |
| 17 Sept 2025 | 0 | 754 |
Atlanta Electricals IPO Reservation
Here are the category-wise allocations under the Atlanta Electricals mainboard IPO:
| Investor | Shares | % Share |
| Market Maker Shares Offered | – | – |
| QIB Shares Offered | 13,57,443 | 14.89% |
| NII (HNI) Shares Offered | 18,09,924 | 19.85% |
| Retail Shares Offered | 31,67,368 | 34.75% |
| Total Shares Offered | ~91,15,935 | 100% |
Atlanta Electricals Key Performance Indicator
Here are the important details of KPIs’ covering financial and operational metrics relevant for investors:
| 2023 | 2024 | 2025 | |
| ROE (%) | 53.05 | 27.8 | 33.91 |
| ROCE (%) | 57.99 | 42.34 | 39.43 |
| RoNW(%) | 33.91 | 27.80 | 53.05 |
| PAT Margin (%) | 10.01 | 7.32 | 9.54 |
| EBITDA margin (%) | 16.38 | 14.20 | 16.07 |
Atlanta Electricals IPO Financials
Here are the key financial highlights of Atlanta Electricals IPO, giving a snapshot of the company’s revenue, profit and assets over recent years.
| (₹ Million) | 2023 | 2024 | 2025 |
| Revenue | 8,738.83 | 8,675.53 | 12,441.8 |
| Total Asset | 5,607.60 | 5,592.51 | 8,661.87 |
| Profit | 874.73 | 635.21 | 1,186.47 |
Atlanta Electricals IPO Lot Size
Here are the details of the Atlanta Electricals IPO Lot Size, including the minimum and maximum investment limits across investor categories.
| Category | Lots | Shares | Amount (₹) |
| Retail (Minimum) | 1 | 19 | 14,326 |
| Retail (Maximum) | 13 | 247 | 1,86,238 |
| Small-HNI – Minimum | 14 | 266 | 2,00,564 |
| Small-HNI – Maximum | 69 | 1,311 | 9,88,494 |
| Big-HNI – Minimum | 70 | 1,330 | 10,02,820 |
Atlanta Electricals IPO Promoter Holding
Here are the details of the company’s shareholding pattern before and after the public issue.
| Promoter Holding | Percentage |
| Pre-Issue | 94.36% |
| Post-Issue | 86.97% |
Atlanta Electricals IPO Anchor Investors Details
Following are the participation of anchor investors who subscribed ahead of the public issue:
| Particular | Description |
| Bid Date | 19 September 2025 |
| Shares Offered | 27,14,887 shares (29.78% of issue) |
| Anchor Portion Size (₹ Cr.) | ~ 195-205 |
| Anchor lock-in end date (50%- 30 days) | 25 October 2025 |
| Anchor lock-in end date (remaining 50%- 90 days) | 24 December 2025 |
Atlanta Electricals IPO Subscription Status
Here are the latest updates on Atlanta Electricals IPO Subscription, showing investor participation across different categories.
| Day | Total Subscription | RII | NII | QIB |
| Day 1 | ~0.66× | ~0.56× | ~0.46× | 1.00× |
Atlanta Electricals IPO Prospectus
https://aetrafo.com/assets/images/investor-relation/rhp/red-herring-prospectus.pdf
https://aetrafo.com/assets/images/investor-relation/drhp.pdf
About Atlanta Electricals
Atlanta Electricals Limited brings more than three decades of expertise in the energy equipment space. The company has built a national footprint, delivering a broad spectrum of transformer solutions to utilities, industries and infrastructure projects. Its facilities in Gujarat and Karnataka provide the scale and reach to serve customers across states and union territories.
It holds approvals from Power Grid Corporation of India Limited and the Ministry of Railways, allowing access to specialised assignments. Its portfolio of clients extends to GETCO, Adani Green Energy, Tata Power, O2 Power and a range of EPC firms.
| Particular | Details |
| Founded in | 1988 |
| Managing Director | Niral Krupeshbhai Patel |
| Parent Organisation | Standalone company |
| Services they Provide | Manufacturing of transformers: power, auto, inverter-duty, furnace and special-application transformers. |
Objectives of the Atlanta Electricals
Here are the key objectives outlined for the Atlanta Electricals Mainboard IPO:
| Particulars | Amount (₹ Million) |
| Debt Repayment | 791.2 |
| Working Capital | 2,100.00 |
| Other Corporate Requirements | Undisclosed |
Strength Of Atlanta Electricals
- Market standing: Recognised among the leading transformer producers in India, giving it scale and resilience to adapt to sectoral shifts
- Client network: Serves 208 entities across private and public domains, including Adani Green and Tata Power.
- Financial trajectory: Posted a 43% rise in income during FY2025, while PAT advanced by 87%
- Capital efficiency: ROE of 33.9% and return on capital employed of 39.4%, indicating effective use of resources
- Leadership experience: Promoters with more than three decades of sectoral experience provide continuity and operational insight
Risk of Atlanta Electricals
- Geographic exposure: In FY2024, 97% of operating income came from Gujarat, heightening vulnerability to regional disruption
- Sector dependence: A significant share of income (65%+) comes from supplying transformers to state electricity companies
- Policy exposure: Any change in state priorities or a broader economic slowdown could affect contract flow and financial outcomes
- Structural reliance: Heavy reliance on top customers and fluctuations in raw material costs can pressure both margins and financial stability
FAQs
Atlanta Electricals is launching an IPO expected to raise ₹687.3 crore in total. Of this, ₹79.12 crore is earmarked for debt reduction and ₹210 crore will support working capital needs.
You can apply through Zerodha using Kite’s IPO module. Go to “Bids” in Kite. Pick the Atlanta Electricals IPO, hit “Apply” and enter UPI ID. Next enter the quantity & price and press “Submit”.
It opens on Monday, September 22, 2025. It is set to close for subscription on Wednesday, September 24, 2025.
The lot size is 19 shares for one application.
You can apply online through your broker’s IPO platform or via net banking using ASBA (Application Supported by Blocked Amount). Place your bid, confirm the UPI mandate or bank block, and wait for allotment.
The allotment is expected to be finalised on 25 September 2025. Share credits and refunds are likely to follow on 26 September 2025.
Listing is set for 29 September 2025 on BSE and NSE.
