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).
Krupeshbhai Narharibhai Patel, Niral Krupeshbhai Patel, Amish Krupeshbhai Patel, Tanmay
Surendrabhai Patel, Narharibhai S. Patel Family Trust, Patel Family Trustee Private Limited, Niral
Patel Family Trust, Amish Patel Family Trust, Tanmay Patel Family Trust And ATLANTA UHV
TRANSFORMERS LLP are the promoters of the company.
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 offer for sale of up to 3,810,895 equity shares of face value of ₹2 each comprises of up to
435,900 equity shares by Atlanta UHV Transformers LLP (Promoter Selling Shareholder) ; up to
666,560 equity shares by Hemang Harendra Shah; up to 777,185 equity shares by Nimish Harendra
Shah; up to 217,500 equity shares by Dhaval Harshadbhai Mehta (held jointly with Avanee
Dhavalbhai Mehta); up to 326,250 equity shares by Gitaben Harshadbhai Mehta (held jointly with
Harshadbhai Amritlal Mehta); up to 1,387,500 equity shares by Jignesh Suryakant Patel (Other
Selling Shareholders) (collectively, “selling shareholders” and such offer for sale of equity shares by
the selling shareholders, the “offer for sale”).
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”). The Pre-IPO Placement, if undertaken, will be at a price to be decided by the Company,
in consultation with the BRLMs. If the Pre-IPO Placement is completed, the amount raised pursuant
to the Pre-IPO Placement will be reduced from the Fresh Issue, subject to compliance with Rule
19(2) (b) of the SCRR.