The highly anticipated allotment of ATC Energies System’s initial public offering (IPO) is expected to be finalized today. With strong interest from investors, the IPO, valued at ₹63.76 crore, opened for subscriptions from March 25 to March 27. The share price was set between ₹112 and ₹118 per share, making it an attractive option for many investors looking to enter the market.
How to Check Your ATC Energies IPO Allotment Status
Investors eager to find out their allotment status can easily do so online. Here’s a step-by-step guide to checking your ATC Energies IPO status:
- Visit the KFin Technologies IPO registrar website.
- Select ATC Energies System IPO from the menu.
- Choose your preferred mode of inquiry—options include PAN, Demat account, or application number.
- Enter the required details, such as your application number, PAN, or Demat account number.
- Complete the captcha verification.
- Click the ‘submit’ button to view your allocation status.
Key Details About the IPO
The ATC Energies IPO consists of a fresh issue of 43.24 lakh shares worth around ₹51.02 crore, alongside an offer for sale of 10.80 lakh shares totaling ₹12.74 crore. The minimum lot size for applications was set at 1,200 shares, meaning retail investors needed to invest a minimum of ₹1.41 lakh to participate.
Despite the positive interest, the IPO closed with a subscription rate of 1.61 times. It received bids for 67.87 lakh shares against 42.09 lakh shares available. Notably, the retail investor segment was highly engaged, subscribing 2.49 times, though the non-institutional investors’ category saw a lower interest at 0.81 times. Qualified institutional buyers (QIBs) participated with a subscription of 1.38 times.
Purpose of Fund Utilization
ATC Energies System has outlined several initiatives for the use of the capital raised through its IPO. A significant portion is earmarked for the repayment of loans related to its Noida factory. Additionally, funds will be allocated for:
- Refurbishing and upgrading the Noida facility.
- Enhancing IT infrastructure across its Noida and Vasai locations.
- Supporting working capital needs and general corporate purposes.
Company Overview
Founded in 2020, ATC Energies System Limited focuses on innovative energy solutions, particularly in the production of lithium and lithium-ion batteries. Initially catering to the banking sector with mini batteries, the company has expanded its offerings to include a diverse range of battery sizes tailored to various industries like automotive and consumer electronics.
Headquartered in Mumbai, ATC Energies boasts manufacturing facilities in Vasai, Thane, and Noida, equipped with advanced technology to ensure high-quality output. According to the Red Herring Prospectus, its listed peers include Eveready Industries India Ltd and High Energy Batteries India Ltd.
Current Market Sentiment
As of today, the grey market premium (GMP) for the ATC Energies IPO stands at ₹4 per share, suggesting an anticipated listing price of ₹122—a 3.39% increase from its upper issue price of ₹118.
In summary, as investors await the allotment results and further market movements, ATC Energies System continues to position itself as a key player in the energy sector, demonstrating growth potential and innovation in battery technology.
