Atmastco IPO is a fixed price issue of Rs 56.25 crores. The issue is a combination of fresh issue of 54.8 lakh shares aggregating to Rs 42.20 crores and offer for sale of 18.26 lakh shares aggregating to Rs 14.06 crores.
Atmastco IPO opens for subscription on February 15, 2024 and closes on February 20, 2024. The allotment for the Atmastco IPO is expected to be finalized on Wednesday, February 21, 2024. Atmastco IPO will list on NSE SME with tentative listing date fixed as Friday, February 23, 2024.
Atmastco IPO price is ₹77 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹123,200. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹246,400.
Affinity Global Capital Market Private Limited is the book running lead manager of the Atmastco IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for Atmastco IPO is Asnani Stock Broker.
Refer to Atmastco IPO RHP for detailed information.
Atmastco IPO Details
| IPO Date | February 15, 2024 to February 20, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹77 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 7,305,600 shares (aggregating up to ₹56.25 Cr) |
| Fresh Issue | 5,480,000 shares (aggregating up to ₹42.20 Cr) |
| Offer for Sale | 1,825,600 shares of ₹10 (aggregating up to ₹14.06 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 19,254,690 |
| Share holding post issue | 24,734,690 |
| Market Maker portion | 366,400 shares Asnani Stock Broker |
Atmastco IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net issue |
| Other Shares Offered | 50% of the Net issue |
Atmastco IPO Timeline (Tentative Schedule)
Atmastco IPO opens on February 15, 2024, and closes on February 20, 2024.
| IPO Open Date | Thursday, February 15, 2024 |
| IPO Close Date | Tuesday, February 20, 2024 |
| Basis of Allotment | Wednesday, February 21, 2024 |
| Initiation of Refunds | Thursday, February 22, 2024 |
| Credit of Shares to Demat | Thursday, February 22, 2024 |
| Listing Date | Friday, February 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 20, 2024 |
Atmastco IPO Lot Size
Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹123,200 |
| Retail (Max) | 1 | 1600 | ₹123,200 |
| HNI (Min) | 2 | 3,200 | ₹246,400 |
| Lot Size Calculator | |||
Atmastco IPO Promoter Holding
The Promoters of the company are Mr. Subramaniam Swaminathan Iyer, Mr. Venkataraman Ganesan, Mrs. Jayasudha Iyer and Apex Steel & Technology (India) Private Limited.
| Share Holding Pre Issue | 97.39% |
| Share Holding Post Issue | 68.43% |
About Atmastco Limited
Incorporated in April 1994, Atmastco Limited is a turnkey/EPC contractor, providing multi-disciplinary services and project management solutions in the ferrous and non-ferrous sectors.
The company is also involved in the manufacturing of various precision equipment and heavy fabrication structures used in different industrial applications. These products include Ceiling Girder, Railway Girder, Columns & Bracings, Bolted Structures, Equipment’s and Pressure ducts, Box Columns, and more. They are widely used in construction of Power and Energy, Steel Plants, Cement Plants, Railway Bridges, Water Treatment Plants, Refinery & Fertilizer plants, and Pre-Engineered Building.
The company’s business comprises of three verticals
- EPC/Turnkey Projects
- Fabrication/Manufacturing
- Defense
The customer base encompasses a wide range of industries, including power plants, refineries, steel plants, railways, cement plants, industrial and infrastructure, chemicals, pharmaceuticals, petrochemicals, and oil and gas explorations.
As of January 31st, 2024, the company has a portfolio of 14 ongoing projects.
The company’s business operations have displayed an upward trend, which is evident in the growth of its total income as per the Restated Consolidated Financial Statements. The income has increased from Rs. 9,46,814.26 Thousand in F.Y. 2021-2022 to Rs. 24,27,875.62 Thousand in F.Y. 2022-2023.
The company has two manufacturing facilities. One is located opposite Karuna Hospital in Bhilai, Durg, Chhattisgarh, and the second unit is located in Dhamdha, District Durg, Chhattisgarh.
The company established a separate legal entity for its wholly-owned subsidiary (WOS) called Atmastco Defence Systems Private Limited on July 22, 2020. This subsidiary is responsible for manufacturing bulletproof jackets and helmets specifically for military use, as well as full-body protectors for female troops and related activities.
The company employs 276 people in various departments.
Atmastco Limited Financial Information (Restated Consolidated)
Atmastco Limited’s revenue increased by 156.43% and profit after tax (PAT) rose by 295.58% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Aug 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 24,391.56 | 23,620.72 | 13,273.94 | 12,036.21 |
| Revenue | 6,700.16 | 24,278.76 | 9,468.14 | 6,990.68 |
| Profit After Tax | 628.74 | 1,277.75 | 323.00 | 60.46 |
| Net Worth | 6,259.03 | 5,520.33 | 4,235.23 | 3,912.23 |
| Reserves and Surplus | 4,763.72 | 4,039.20 | 2,754.10 | 2,431.10 |
| Total Borrowing | 7,317.46 | 7,125.68 | 5,155.92 | 5,410.48 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of Atmastco IPO is Rs 190.46 Cr.
| KPI | Values |
|---|---|
| ROE | 23.15% |
| ROCE | 29.91% |
| Debt/Equity | 0.48 |
| RoNW | 23.15% |
| P/BV | 0.13 |
Check Atmastco IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.64 | 6.1 |
| P/E (x) | 11.6 | 12.62 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of August 31, 2023 that is available in RHP.
Objects of the Issue (Atmastco IPO Objectives)
The company intend to utilize the issue proceeds to meet the following objects:
- To meet the working capital requirements
- To prepayment and repayment of all or a portion of certain secured and unsecured loan availed by the company
- General Corporate Purpose and
- To meet the Offer expenses
Atmastco Limited Contact Details
Atmastco Limited
157-158, Light Industrial Area, Nandini Road, Opp
Karuna Hospital, Durg
Bhilai,-490026
Phone: + 91 94252 35807
Email: cfo@atmastco.com
Website: https://www.atmastco.com/
Atmastco IPO Registrar
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: priya@cameoindia.com
Website: https://ipo.cameoindia.com/