Atlanta Electricals Raises Rs 205 Crore From Anchors Before Rs 687-Crore IPO Opening on Sept. 22

Anchor shares were placed at the upper end of the price band, with public subscriptions scheduled for Sept. 22–24.

Overview

The company allotted 27.15 lakh shares to 15 anchor investors at Rs 754 apiece, raising about Rs 205 crore.
The IPO will be open from Sept. 22 to Sept. 24 in a price band of Rs 718–754 per share, with a debut expected on Sept. 29.
The Rs 687-crore offer comprises a Rs 400-crore fresh issue and an offer for sale of about 38 lakh shares worth roughly Rs 287 crore at the upper band.
Proceeds are earmarked for capital expenditure of Rs 210 crore, debt repayment of Rs 79.1 crore, and funding working capital and general corporate purposes.
ICICI Prudential Energy Opportunities Fund received the largest anchor allocation (~17.10%), followed by Ashoka Whiteoak (~12.21%) and HDFC Manufacturing Fund (~11.40%), with five domestic mutual funds taking about 58.62% of the anchor portion.