Atlanta Electricals Limited has raised ₹687.341 crore from an initial public offering of equity shares, comprising a fresh issue of equity shares and an offer for sale of up to 3,810,895 shares by selling shareholders.
Trilegal advised Atlanta Electricals on this IPO.
The transaction team was led by Richa Choudhary (Partner), with support from Avanti Kale (Counsel), Maitreya Rajurkar (Counsel), Pooja Tada (Senior Associate) and Associates Siddhant Mishra, Deepanshu Agarwal, and Shreyansh Gupta.
JSA Advocates & Solicitors advised Book Running Lead Managers Motilal Oswal Investment Advisors Limited and Axis Capital Limited.
The transaction team consisted Arka Mookerjee (Lead Partner), Siddhartha Desai (Partner), Govind Roy (Senior Associate), and Associates Prateek Khandelwal, Vaishnavi Kokkonda, Bhuvnesh Kumar and Aditya Shendye.
Atlanta Electricals is a transformer manufacturer in India specialising in power, auto and inverter duty transformers up to and including 500 Mega Volt-Amp capacity and with 775 kilovolts voltage, across 19 states and three union territories.
The IPO proceeds will be utilised for the repayment of its borrowings and funding its working capital requirements.
The IPO was over-subscribed 70.63 times, recording an overwhelming response from Qualified Institutional Buyers with 194.92 times subscription. Atlanta listed with a strong debut, delivering a 14.59% premium on the bourses.
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