Mumbai (Maharsahtra) [India], February 12 (ANI): Atmastco Limited, a player in the Engineering, Procurement, and Construction (EPC) sector, has set the stage for a moment in its journey with the launch of its Initial Public Offering (IPO). The (Small and Medium Enterprise) SME IPO, valued at Rs 56.25 cr, is poised to open for subscription on February 15.
According to a press release, the IPO, to be listed on the SME Platform of NSE Emerge, comprises a fresh issue of 54,80,000 Equity Shares and an Offer for Sale (OFS) of 18,25,600 Equity Shares, both priced at Rs 77 per Equity Share.
Investors have the opportunity to apply for a minimum of 1,600 Equity Shares and in multiples of 1,600 Equity Shares thereafter, with the subscription closing on February 20.
Atmastco Limited, headquartered in Bhilai (Chhattisgarh), brings over three decades of expertise in the EPC domain. The company has consistently delivered profits, recording an increase of over 271 per cent in Profit After Tax (PAT) from Rs 3.23 crore in 2021-22 to Rs 12 crore in 2022-23.
Furthermore, its turnover witnessed a substantial surge of 156 per cent during the same period, reflecting its robust growth trajectory.
With ongoing projects exceeding Rs 720 crore, Atmastco Limited caters to a diverse clientele ranging from the Ministry of Railways to players in the steel and power sectors.
Notably, the company’s fully owned subsidiary has secured a coveted license to manufacture bulletproof helmets and protective gear for the armed forces, aligning with the Atmanirbhar Bharat initiative in Defence production.
The IPO’s proceeds from the Fresh Issue will primarily support the company’s working capital requirements, alongside loan repayments and general corporate purposes.
The management, led by key promoters Subramaniam Swaminathan Iyer, Venkataraman Ganesan, Jayasudha Iyer, and Apex Steel and Technology (India) Private Limited, has meticulously designated Vijay Chander Iyer as the successor, ensuring seamless leadership transition and sustained success.
Arunkumar Sowrirajan, the Chief Executive Officer, embodies a blend of technical acumen and strategic vision, driving operational excellence and business growth. Affinity Global Capital Market Private Limited serves as the Lead Manager to the Offer, with Cameo Corporate Services Limited appointed as the Registrar of the issue.
The IPO marks a milestone for Atmastco Limited, underscoring its commitment to growth, innovation, and value creation for its stakeholders. (ANI)