Atmastco was incorporated on 7 April 1994. It is a certified company engaged in the business of executing turnkey/engineering procurement and construction (EPC) contracts in the ferrous and non-ferrous sector and providing end-to-end solutions offering multi-disciplinary services and project management solutions.
| Bidding Dates |
|---|
| 15 Feb 2024 - 20 Feb 2024 |
| Subscription |
|---|
| 16.41x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,23,200 | 1 | 1 | 1600 | 7.3 M | ₹77 | 68.43 % | ₹562.5 M | RHP DOC |
Atmastco IPO SUBSCRIPTION STATUS
20 Feb '24Atmastco IPO overall subscription rate was 16.41 times the total available shares
Atmastco IPO retail subscription rate was 18.42 times in the retail segment
Atmastco IPO non-institutional investor subscription rate was 14.4 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
20 Feb 2024 (Day 4) | 18.42x | 14.4x | - |
19 Feb 2024 (Day 3) | 8.23x | 1.99x | - |
16 Feb 2024 (Day 2) | 4.46x | 0.77x | - |
15 Feb 2024 (Day 1) | 2.31x | 0.4x | - |
Atmastco FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| 5MFY24 | 62.9 | 665.7 | 30.0 | 29.8 |
| FY23 | 127.8 | 2,419.5 | 200.7 | 153.1 |
| FY22 | 32.3 | 936.1 | 29.3 | 35.9 |
| FY21 | 6.0 | 693.9 | 16.9 | -27.7 |
Atmastco IPO SUBSCRIPTION STATUS DETAILS
Atmastco had 7.3 M shares on offer
Atmastco IPO offer price was ₹77
Atmastco IPO minimum Investment was ₹123200
Atmastco IPO issue size was ₹ 562.5 M
Atmastco had a minimum lot size of 1600 Shares per application
Atmastco NUMBER OF SHARES ON OFFER
Atmastco IPO IMPORTANT DATES
| Issue Open Date | 15 Feb 2024 |
| Issue close Date | 20 Feb 2024 |
| Allotment Date | 21 Feb 2024 |
| Refund Date | 22 Feb 2024 |
| Demat Account Credit Date | 22 Feb 2024 |
| Listing Date | 23 Feb 2024 |
| Listing on Exchange(s) | NSE |
| Atmastco Allotment Status | Exchange |
Atmastco IPO subscription opened on 15 Feb 2024, and closed on 20 Feb 2024
IPO allotment for Atmastco was finalized on Wednesday, 21 Feb 2024
IPO listing for Atmastco was on NSE on Friday, 23 Feb 2024
Atmastco IPO LISTING GAINS
| Issue Price (adjusted) | 77.0 |
| Listing Open Price | 91.0 |
| Listing Close Price | 95.5 |
| Listing Gain% | 18.2% |
| Current Gain% | 94.2% |
Atmastco Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Atmastco Ltd. | 149.6 | 369.9 | 20.5 | -3.1 | 1.3 | 13 | 4.5 | 295.2 | 1.7 | 19.1 | -1.2 | 7.3 | -6.6 |
| Larsen & Toubro Ltd. | 4056 | 570643.6 | 34.4 | 7.6 | 2 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 107.2 | 113192.2 | 645 | 4.5 | 7.6 | -7.1 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.2 | 144.7 |
| Rail Vikas Nigam Ltd. | 233.4 | 48660.2 | 55.6 | -1.8 | 2.4 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.2 | -31.7 |
| NBCC (India) Ltd. | 95.3 | 25739.1 | 35.7 | 1.1 | 2 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.7 | 33.1 |
| Kalpataru Projects International Ltd. | 1317.2 | 22494.2 | 21.6 | 0.3 | 0.8 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 60.9 | 77.5 |
Atmastco INFORMATION ON IPO ISSUE
About Atmastco
Atmastco was incorporated on 7 April 1994. It is a certified company engaged in the business of executing turnkey/engineering procurement and construction (EPC) contracts in the ferrous and non-ferrous sector and providing end-to-end solutions offering multi-disciplinary services and project management solutions.
Object of the Issue
- To meet the working capital requirements
- To prepay and repay all or a portion of certain secured and unsecured loans availed by the company
- General corporate purpose
- To meet the offer expenses
Atmastco - PROMOTERS
| Name |
|---|
| Subramaniam Swaminathan Iyer |
| G Venkataraman |
| Jayasudha Iyer |
| Apex Steel & Technology India Private Limited |
Atmastco Lead Manager of the Issue
Affinity Global Capital Market Private Limited
compliance@affinityglobal.in
Atmastco Registrar to the issue
Cameo Corporate Services Limited
priya@cameoindia.com
Atmastco Strengths
Track record
The company has pre-qualified credentials, strategic alliances, and a track record of over 28 years with various completed projects and organic growth due to goodwill in the market
Wide range of solutions
The company is an engineering solution provider with well-equipped manufacturing facilities. It is a multidisciplinary engineering company engaged in the design, manufacture, supply, and erection of fabricated structural items and mechanical equipment, such as ceiling girders, railway girders, columns, and bracings, etc., used in steel plants, energy and power sectors, refineries, railway bridges, industrial and infrastructure sectors, etc
Robust order book
The contract-wise details of work in hand as per the order book of the company as of 31 January 2024 amount to Rs 742.8 crore
Atmastco Risks
Legal proceedings
The company and its directors are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on the business, results of operations, and financial conditions
Extremely competitive environment
The company operates in an extremely competitive environment, with many domestic players in its segment, and may not be able to maintain its market position, which may adversely impact the business
Dependent on few customers
The business is substantially dependent on certain key customers, from whom the company derives a significant portion of its revenues. The loss of any significant customer may have a material and adverse effect on the business and results of operations
IPO FAQs
This IPO consists of an offer for sale of up to Rs 14.1 crore, of 1,825,600 shares. It also consists of a fresh issue of Rs 42.2 crore.
The promoters of the company are Subramaniam Swaminathan Iyer, G Venkataraman, Jayasudha Iyer and Apex Steel & Technology India Private Limited.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 77.0 - 77.0.
The IPO application opens on Feb 15, 2024 and closes on Feb 20, 2024.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 123,200.0, the maximum value for this IPO is Rs 123,200.0.
This IPO will be allotted on Feb 21, 2024.
The refund will be credited to your account on Feb 22, 2024.
The allotted shares will be credited to your demat on Feb 22, 2024.
Atmastco Ltd.’s shares listed on the stock exchanges on Feb 23, 2024.