Atlanta Electricals IPO Listing Date Today: What To Expect From Rs 687 Cr IPO? Here’s What GMP Indicates

Atlanta Electricals IPO Listing Today: Atlanta Electricals' initial public offering (IPO) worth Rs 687 crore is all set to hit the Dalal street on Monday, September 29. The IPO received strong response from qualified institutional buyers (QIB) and saw decent subscription by retail investors. Atlanta Electricals IPO was subscribed around 72.16 times last week.

With less than an hour left for Atlanta Electricals IPO listing today, let's recheck the IPO's performance during the subscription period, its GMP today (grey market premium) and other important details.

Atlanta Electricals IPO Listing Today

The mainboard IPO is all set to be listed on Monday on BSE and NSE. The company is likely to benefit from the expanded capacity to flow during the next two to three years. The leading manufacturer of power, auto and inverter duty transformers in India has over three decades of presence in the transformer manufacturing industry.

Atlanta Electricals IPO GMP Today

Atlanta Electricals IPO's last GMP stood at Rs 114. Given the company's IPO GMP today, it is expected to be listed at a price of Rs 868 ( sum of the cap price and lPO GMP Today), according to Chittorgarh.com. The estimated gain or loss per share is 15.12%. Investors must note that the IPO GMP is an indication of the demand for the IPO shares in the unregulated grey market. Hence, IPO GMP is not an accurate indication of Atlanta Electricals IPO.

Atlanta Electricals IPO Subscription

The issue was subscribed around 72.16 times in three days, which included 10.76 times in the retail category, 194.77 times in the QIB (ex-anchor), and 55.82 times in the NII category. The issue received lukewarm response in the retail category.

Atlanta Electricals IPO Listing

The IPO shares were finalised on Thursday, September 25. Investors who were shortlisted in the IPO allotment lists received granted shares on Friday, September 26. The issue saw strong subscription of qualified institutional buyers. The company had fixed a price band of Rs 472-496 per share. It is a fresh issue of Rs 750 crore with an issue size of Rs 839 crore.

AEL has recently expanded its manufacturing capacity and will further increase it by 33%. Focus on infrastructure is likely to help the company in meeting the robust demand for transformers.

"The company however has high exposure to State utilities(82% of order book) compared to peers which can lead to higher working capital requirement. Lack of backward integration currently is also likely to keep a lid on the margins," noted SBI Securities in its report.

"At the upper end of the IPO price band, AEL is valued at 48.9x FY25 P/E on post issue capital which is at a slight premium to the average of the peer set. We recommend investors to Subscribe to the issue from long term perspective considering the benefits of expanded capacity to flow during next 2-3 years," SBI Securities added.