Atlanta Electricals Limited Files DRHP with SEBI for IPO
Bangalore: Atlanta Electricals Limited, a leading manufacturer of power, auto, and inverter duty transformers in India, has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO).
The company is among the few in India to manufacture transformers up to 200 Mega Volt-Amp (“MVA”) capacity and with 220 kilovolts (“kV”) voltage.
The public offer comprises a fresh issue of equity shares aggregating up to ₹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 plans to utilize the net proceeds towards repayment/prepayment of outstanding borrowings, funding working capital requirements, and general corporate purposes.
Motilal Oswal Investment Advisors Limited and Axis Capital Limited are the Book Running Lead Managers to the Issue. The equity shares are proposed to be listed on the BSE Limited and National Stock Exchange of India Limited.
