Atlanta Electricals IPO

About the company

Founded in 1988, Atlanta Electricals is a leading manufacturer of various types of transformers. The company makes power, auto and inverter duty transformers and is able to produce transformers with a rated capacity of up to 500 Mega Volt-Amp (MVA) and with 765 kilovolts (kV). The company serves key players in the transmission and distribution, renewable energy and mobility sectors, which has helped support its growth. As of March 31, 2025, it has a diversified customer base of 208 customers, which include Gujarat Energy Transmission Corporation Limited (GETCO), Adani Green Energy Limited, TATA Power and SMS India. Atlanta Electricals has dispatched 4,400 transformers, aggregating to 94,000 MVA across 19 states and three union territories as of March 31, 2025. The company successfully retained a clientele of 208 customers including GETCO, Adani Green Energy, TATA Power etc. The order book as of March 2025, was ₹1,642.96 crore in which public sectors contributed for 82.08% and private sector contributed for 17.92%. The company has five manufacturing facilities, out of which four facilities are fully operational, two located at Anand, Gujarat, one at Bengaluru, Karnataka and the Vadod Unit which commenced commercial production in July, 2025, with combined installed capacity of 63,060 MVA. Its Gujarat Unit – I and Gujarat Unit – II facilities comprise National Accreditation Board for Testing and Calibration Laboratories (“NABL”) accredited testing laboratories with 4 transformer testing labs capable of conducting routine tests for transformers up to 200 MVA/ 245kV and one transformer oil testing lab. The product portfolio offers a range of transformers for many sectors like power, industrial, and renewable energy industries. Some of the transformers are as follows - auto transformers (66 kV to 220 kV), inverter duty transformers (0.60 kV to 33 kV), furnace transformers (0.43 kV to 66 kV), power transformers (11 kV to 220 kV), generator transformers (3.30 kV to 220 kV), and special duty transformers (0.43 kV to 132 kV). The company provides transformers suited for high-altitude locations like Leh and those with fire-safe, biodegradable ester fluids for city needs. The company caters to national and state electricity grids, renewable energy schemes and engineering procurement and construction companies. India's transformer component industry grew at a 10.2% CAGR during 2019-2024 to $1.3 billion and is likely to grow to $2.6 billion by 2030 at a CAGR of 12.2%. Increase in investments in the power transmission and distribution infrastructure, which is supported by programs such as RDSS, is likely to increase demand. The company, with over 30 years of experience and supplying to 19 states and 3 union territories, and a robust export presence, coupled with NABL-accredited quality testing, allows it to leverage growth in this sector. The company is investing in backward integration by producing key components like tanks, radiators, and insulation to cut costs and gain control. It is also increasing global reach through exports and entering Ultra High Voltage (UHV) and renewable energy segments. With installed capacity increasing to 47,280 MVA at several locations, it is concentrating on higher utilisation, economies of scale, and digital instruments for maximising efficiency. Now, Atlanta Electricals Ltd is launching its initial public offering (IPO), which consists of a fresh issue of ₹400 crore and an offer for sale of ₹287.34 crore. The total issue size of the IPO is ₹687.34 crore. Its shares will be listed on the NSE and BSE.

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   22 Sept 2025

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   24 Sept 2025

   Last day to place your bid

3. Basis of Allotment

   Completed
   25 Sept 2025

   Share allotment finalised

4. Refund Initiation

   Completed
   26 Sept 2025

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   26 Sept 2025

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   29 Sept 2025

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.