Atlanta Electricals Raises ₹205 Crore from Anchor Investors Ahead of IPO

Atlanta Electricals Ltd, a manufacturer of power, auto, and inverter duty transformers, has secured ₹205 crore from anchor investors ahead of its initial public offering. The anchor allotment included 27.15 lakh equity shares priced at ₹754 apiece, with participation from prominent funds such as Kotak Mutual Fund, Axis MF, and HDFC MF.

The IPO, set to open on September 22, features a price band of ₹718-754 per share, valuing the company at approximately ₹5,800 crore at the upper end. The ₹687-crore offering comprises a fresh issue of ₹400 crore and an offer for sale of 38.1 lakh shares by promoters and other shareholders. Proceeds will be directed toward debt repayment, working capital, and general corporate purposes.

Motilal Oswal Investment Advisors and Axis Capital are managing the book-building process. The Gujarat-based company's market debut is anticipated shortly after the subscription period closes on September 24.