Atlanta electricals IPO: The IPO of the transformer manufacturer Atlanta Electricals entered the stock market. For this, bidding can be made by 24 September. Today on the first day, the IPO started well. On the very first day it received 0.80 times subscription. Investments are showing interest in IPOs worth Rs 687.34 crore.
How much did it bid on the first day?
For this, the QIB bid was more bid than the category. It also received good response from retail and NII category. It was subscribed by retail investors 0.75 times, received 1.00 times subscription from the QIB category, while non-institutional investors subscribed to it 0.67 times.
The IPO of Atlanta Electricals is a book-belt issue with 0.53 crore fresh issue of Rs 400 crore and 0.38 crore share offers of Rs 287.34 crore will be sold under the Offer-SAL (OFS) window. Share will be allotted on 25 September and listings on BSE and NSE are expected to be on 29 September next week.
GMP of IPO of Atlanta Electricals
The company’s shares are also doing well in the gray market. According to Investorgen, the IPO of Atlanta Electricals was Rs 125 around 12:33 pm on September 22. According to this, its estimated listing can be at Rs 879. That is, investors can get an estimated profit of up to 16.58 % per share. Its GMP was Rs 142 on August 21. This means that it has seen a significant decline in a day. The price band for IPO has been fixed at Rs 718 to Rs 754 per share.
What does the company do?
This company formed in 1983 makes transformers. Its headquarters are in Anand, Gujarat. The company has more than 30 years of experience in electricity, auto, furnace and inverter-duty transformers. It has three manufacturing units in Anand and Bangalore. While another facility is being created in Vadodara. Atlanta Electricals have supplied about 4,000 transformers with a total capacity of 78,000 MVA in 19 states and three union territories of India.
Disclaimer: (The information provided here is being given only for information. It is necessary to tell here that the investment in the market is subject to risks. Always consult expert before investing as an investor. Abplive.com is never advised to invest money here.)
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