The highly anticipated ATC Energies System IPO has officially opened for subscription as of today, March 25, and will remain available until March 27. Investors can purchase shares within a price range of ₹112 to ₹118 for each equity share, which has a face value of ₹10. The minimum bid is set at 1,200 shares, with subsequent bids required in multiples of 1,200.
Company Overview and Growth
Founded in 2020, ATC Energies System Limited is carving its niche in the energy sector by providing innovative energy solutions, products, and services. The company specializes in designing and manufacturing cost-efficient lithium and lithium-ion batteries, catering to various industries, including banking and automotive.
- Key Offerings: High-efficiency battery solutions
- Target Sectors: Banking, automotive, and other end-user markets
Initially focused on producing compact batteries for the banking sector, ATC Energies has broadened its scope to offer customized battery solutions for diverse applications through advanced in-house design and engineering.
Production Facilities and Expertise
ATC Energies operates from its registered office in Mumbai, with advanced manufacturing facilities located in Vasai, Thane, and Noida. These state-of-the-art facilities are equipped with:
- Temperature chambers
- Welding systems
- Comprehensive testing equipment
IPO Subscription Status
As of the first day of bidding, the ATC Energies System IPO has achieved a subscription rate of 27%. The breakdown of subscriptions includes:
- Retail Portion: 45% subscribed
- Non-Institutional Investor (NII) Portion: 18% subscribed
- Qualified Institutional Buyers (QIB): Not yet subscribed
According to data from chittorgarh.com, by 12:39 IST, a total of 1,120,800 shares had been bid compared to the 4,209,600 shares available.
Financial Insights
The ATC Energies System IPO encompasses a fresh issue of shares amounting to ₹51.02 crore, alongside an offer for sale (OFS) of 10,80,000 equity shares from a promoter selling shareholder. The funds raised from this IPO will be allocated for several strategic initiatives, including:
- Repayment of loans for the Noida factory
- Civil work and upgrades at the Noida facility
- IT enhancements at both the Noida and Vasai plants
- Working capital requirements
- General corporate purposes
Indorient Financial Services Ltd is serving as the book-running lead manager, while Kfin Technologies Limited is the registrar for this offering. Alacrity Securities Ltd is designated as the market maker.
Grey Market Premium (GMP)
Currently, the grey market premium (GMP) for the ATC Energies System IPO stands at ₹0, indicating that shares are trading at the issue price of ₹118 without any premium or discount, as reported by investorgain.com. The GMP reflects the market sentiment regarding investor willingness to pay above the issue price.
Conclusion
With a promising start, the ATC Energies System IPO presents a compelling opportunity for investors interested in the energy sector. As the subscription period continues, market watchers will closely monitor the evolving interest and demand for these shares.
