ATC Energies IPO Subscribed 1.3x on Day 3: Key Details and GMP Update

Quick Summary

• ATC Energies System IPO Subscription: Fully subscribed with an overall subscription of 1.32 times as of 01:55 PM on the final day of bidding.

– Retail portion subscribed by 2.14 times.
– Non-institutional investors (NIBs) subscribed at 70%.
– Qualified institutional buyers (QIBs) subscribed at 76%.

• Fundraising Goal: The IPO aims to raise Rs 63.76 crore, consisting of a fresh issuance worth Rs 51.02 crore and an offer for sale valued at Rs 12.74 crore.

• GMP Details: Shares were trading at a premium (GMP) of Rs 7 in the unlisted market, reflecting a ~6% increase over the upper price band.

• IPO Price Band and Lot Size: Price range set between Rs 112-118 per share; minimum lot size is set at one lot containing approximately 1,200 equity shares.

• Use of Funds: Proceeds will support:

– Repayment and pre-payment for borrowings linked to Noida factory purchase.
– Refurbishment, upgrades, and capital expenditure needs.
– IT infrastructure improvements across factories & office locations.
– Working capital requirements & general corporate purposes.

• Promoters and background Details: Maharashtra-based ATC Energies is led by Sandeep Gangabishan Bajoria; specializes in advanced lithium-ion battery solutions as its incorporation in September 2020.

• Financial Overview:

– FY24 revenue: Rs 5,120 lakh; EBITDA: Rs 1,516 lakh; PAT: Rs 1,089 lakh.
Revenue as of Sep’24 stands at approx ~Rs 2,249 lakh.

Indian Opinion Analysis

The accomplished subscription rate achieved by ATC Energies’ SME-focused IPO highlights robust demand across diverse investor categories despite varied levels within groups like QIBs or NIBs (~70%). Its modest GMP premium indicates cautious optimism among observers surrounding the valuation aligned /fixed rates (-band carefully )amid evolving lithium-focused storage relevance’s .

Further Data @ :”https://economictimes….