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Atlanta Electricals Limited
A Gujarat-based manufacturer of power, auto and inverter-duty transformers up to the 220 kV class, which listed on the NSE and BSE in September 2025 after a heavily oversubscribed IPO.
Recent Activity
Listed on NSE and BSE with a ~14% premium after 72x subscription
Atlanta Electricals raised ₹687.85 Cr through its IPO — a fresh issue of ₹400.51 Cr and an offer for sale of ₹287.34 Cr — priced at ₹754 per share. The issue was subscribed about 72 times overall, with the qualified institutional buyer portion subscribed nearly 195 times. Shares opened at a premium of roughly 13.7–13.8% on debut. Proceeds are earmarked for working capital (around ₹210 Cr) and partial repayment of borrowings.
Fifth manufacturing unit (Vadod) commenced commercial production
The company operates manufacturing facilities in Anand (two units) and Bengaluru, with a new unit at Vadod, Gujarat, beginning commercial production in July 2025 — part of its push to expand transformer capacity.
Company Description
Atlanta Electricals, incorporated in December 1988 and headquartered in Anand, Gujarat, is a manufacturer of power, auto, inverter-duty and other special-duty transformers for the 220 kV class and below.
As of March 2025, the company operated through five manufacturing facilities — two in Anand, one in Bengaluru, and a newly commissioned unit at Vadod — and had supplied over 4,400 transformers totalling roughly 94,000 MVA to customers across 19 states and three union territories.
Its customer base includes state utilities and private players such as GETCO, Adani Green Energy, Tata Power and SMS India, serving both grid infrastructure and renewable energy projects.
In Their Own Words
We reached out to Atlanta Electricals management with our 4 direct questions. Their official perspective will be published unedited once submitted.
Performance & Profit Track
FY25 revenue grew to ₹1,250.49 Cr from ₹872.05 Cr in FY24, a 43% increase.
Why almost nobody has looked at this yet
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1
Very recently listed: Atlanta Electricals only began trading in September 2025, so most retail screeners, indices and commentary have not caught up yet.
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2
Capacity still ramping: its newest manufacturing unit only started commercial production in mid-2025, so its full output is not yet reflected in historical financials.
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3
Overshadowed by larger transformer peers: coverage tends to focus on larger, longer-listed names like Voltamp Transformers and Transformers & Rectifiers (India).