Atmastco Limited IPO
Atmastco Limited IPO
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Atmastco Limited's successfully transitioned to public market status with its listing on NSE on 23-02-2024. The IPO mobilized 73,05,600 Shares in cumulative capital, including 54,80,000 Shares for corporate expansion and ₹14.06 Cr for shareholder liquidity management.
The public offering was conducted within the price parameters of ₹77 to ₹77, with minimum investment lots of 1600 shares. subscription activity between 15-02-2024 and 20-02-2024 demonstrated market reception to the company's valuation and growth narrative.
The allotment process concluded on 21-02-2024, finalizing share distribution to successful bidders. The listing represents a transformational event, providing the company with enhanced market visibility, regulatory compliance framework, and access to diversified investor capital.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Atmastco Limited IPO About Company
Atmastco Limited is a turnkey EPC contractor offering multi-disciplinary services and project management solutions in the ferrous and non-ferrous sectors. The company specializes in manufacturing precision equipment and heavy fabrication structures, including ceiling girders, railway girders, bolted structures, pressure ducts, and box columns—widely used in power, steel, cement, railways, water treatment, refineries, and infrastructure projects. Its operations are divided into three verticals: EPC/Turnkey Projects Fabrication/Manufacturing Defense With a diverse customer base spanning power plants, refineries, steel plants, railways, pharmaceuticals, petrochemicals, and oil & gas, the company is currently handling 14 ongoing projects (as of January 31, 2024). Atmastco has two manufacturing units in Bhilai and Dhamdha, Chhattisgarh. It also established Atmastco Defence Systems Pvt. Ltd. in 2020, a wholly owned subsidiary that manufactures bulletproof jackets, helmets, and full-body protectors for female troops. The company's financial growth has been strong, with revenue increasing from ₹946.81 million in FY 2021-22 to ₹2,427.87 million in FY 2022-23. As of now, 276 employees support its operations across various departments.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Atmastco Limited IPO Strength Factors
- Over Two Decades of Expertise: With a strong industry presence, the company has extensive experience in designing, manufacturing, and supplying precision equipment and heavy fabrication structures for various industries and EPC projects.
- Diverse Trading Activities: The company trades a wide range of industrial products, including steel, iron, chemical alloys, metals, abrasives, welding electrodes, and industrial helmets, all essential for industrial applications.
- Broad Product Portfolio: A diverse and high-quality product range allows the company to meet the needs of multiple industries.
- Strong Leadership & Management: Backed by experienced promoters and a skilled senior management team, the company is well-positioned to adapt to market challenges and seize new opportunities.
Atmastco Limited IPO Risk Factors
- Legal Risks: The company and its directors are involved in ongoing legal proceedings, which, if unfavorable, could impact business stability and financial health.
- Dependency on Key Customers: A significant portion of revenue comes from a few major clients. Losing any of them could affect operations and financial performance.
- Raw Material Price Fluctuations: Changes in raw material prices could increase production costs and impact profitability.
- Unsecured Loan Risks: The company has unsecured loans that could be recalled anytime, posing potential financial challenges.
- IT and Technology Risks: System failures or the need for technological upgrades could disrupt operations and require substantial investments to stay competitive.
Atmastco Limited IPO Lead Manager(s)
- Affinity Global Capital Market Private Limited
Atmastco Limited IPO Promoter(s)
- Mr. Subramaniam Swaminathan Iyer
- Mr. Venkataraman Ganesan
- Mrs. Jayasudha Iyer
- Apex Steel & Technology (India) Private Limited.
Atmastco Limited IPO FAQs
Atmastco Limited IPO subscribed 16.63 times. The public issue subscribed 0 times in the retail category,0times in QIB, and -- times in the HNI (10+) category byNovember 20, 2025 8:46:49 AM (Day 20).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Atmastco Limited IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Atmastco Limited IPO FAQs
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