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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
ATC Energies Rs 63.76 cr IPO opens for public subscription on March 25. Check GMP, other details
lithium-ion battery solutions, is set to launch its Initial Public Offering (IPO) on Tuesday, March 25. The company aims to raise up to Rs 63.76 crore at the upper price band, with the shares proposed to be listed on the NSE Emerge platform.
The IPO comprises up to 54,03,600 equity shares of face value Rs 10 each, which includes a fresh issue of 43,23,600 equity shares and an offer for sale of 10,80,000 equity shares.
Here are the key details:
ATC Energies System IPO price band
The offering will be available in a price band of Rs 112 to Rs 118 per share, with a minimum lot size of 1,200 equity shares.
GMP of ATC Energies ahead of IPO
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Ahead of the issue opening, the shares are trading at a grey market premium (GMP) of Rs 0 in the unlisted market.
Use of proceeds
The net proceeds from the IPO will be used for multiple purposes. A portion will go towards the repayment and pre-payment, in full, of borrowings availed for the purchase of the Noida factory, including land and building.
Funds will also be allocated to capital expenditure requirements for refurbishment, civil work, and upgrades at the Noida factory. Additionally, the company will use part of the proceeds for IT infrastructure upgrades at both the Noida and Vasai factories, as well as at the registered office.
A portion of the proceeds will also be used to meet the company’s working capital requirements. The remaining funds will be utilized for general corporate purposes.
Also read: New mechanism to speed up transfer of unlisted NSE
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