ATC Energies Share Price Debuts at Discount on NSE SME Exchange

Market Performance

ATC Energies debuted its stock market on April 2, listing on the NSE SME platform at a price of ₹107 per share. This represented a 9.3% decline from the IPO issue price of ₹118 per share. Following the listing, the stock declined further by 5%, reaching ₹101.65 per share due to selling pressure.

IPO Details

The ATC Energies IPO combined fresh equity issuance with an offer-for-sale component. The total IPO size was ₹63.76 crore, with a price range between ₹112 and ₹118 per share. The subscription period for the IPO lasted from March 25 to March 27.

The IPO received a total subscription of 1.61 times. The retail investor segment subscribed 2.49 times, while the non-institutional investor (NII) category saw a subscription rate of 0.81. The qualified institutional buyer (QIB) category had a subscription of 1.38 times.

Net proceeds from the IPO, amounting to ₹64 crore, are designated for debt repayment, capital expenditure, working capital requirements, and general corporate purposes.

Company Overview

ATC Energies specializes in manufacturing and supplying lithium-ion batteries, offering energy storage solutions tailored to industries such as banking and automotive.

The company operates production facilities in Vasai, Thane, and Noida, covering approximately 3,160 square meters. These facilities have advanced machinery, integrated development and assembly systems, and quality testing units. The company produces standardized and customized lithium batteries to cater to diverse industrial requirements.

The company's founder, an entrepreneur with over 25 years of experience in the chemical, electrical, and industrial equipment sectors, started his journey by trading industrial equipment. Over time, he utilized his industry knowledge and customer network to establish a lithium-ion battery manufacturing unit.

Summary

ATC Energies commenced trading on April 2 with a listing price below its IPO issue price. The IPO saw moderate demand, with total subscriptions reaching 1.61 times. The company plans to use the IPO proceeds toward financial obligations and operational expansion. With a focus on lithium-ion battery production, ATC Energies operates multiple manufacturing units equipped with advanced facilities to serve various industrial needs.