Atlanta Electricals Limited files DRHP with SEBI for IPO

DRHP Link: https://www.motilaloswalgroup.com/Docsvirdir/1160056345ATLANTA%20ELECTRICALS%20LIMITED%20DRHP.pdf

Atlanta Electrical Limited, one of the leading manufacturers of power, auto and inverter duty transformers in India, terms of production volume as of Fiscal 2024 (Source: CRISIL Report) has filed with SEBI for an Initial Public Offering (IPO).

The company is of the few companies in India, manufacturing transformers up to and including 200 Mega Volt-Amp (“MVA”) capacity and with 220 kilovolts (“kV”) voltage (Source: CRISIL Report).

The public offer comprises of a fresh issue of equity shares of face value of Rs. 2 each aggregating up to Rs. 400 crore and an offer for sale of up to 3,810,895 equity shares. The offer includes a reservation of equity shares for subscription by eligible employees.

The company proposes to utilize the net proceeds towards Repayment/ prepayment in full or in part of certain outstanding borrowings availed by the Company, funding working capital requirements of the company and general corporate purposes.

The company, in consultation with the BRLMs, may consider a further issue of specified securities through a preferential issue or any other method, as may be permitted under the applicable law, aggregating up to Rs. 80 crore prior to the filing of the Red Herring Prospectus (the “Pre-IPO Placement”).

Motilal Oswal Investment Advisors Limited and Axis Capital Limited are the Book Running Lead Managers to the Issue.