Shares of Atmastco were quoting at Rs 95.55 on the NSE, a premium of 24.09% compared with the issue price of Rs 77.
The scrip was listed at Rs 91, a premium of 18.18% compared with the initial public offer (IPO) price. The stock is currently frozen at its upper limit of 5% over its listing price.The counter hit a high of Rs 95.55 and a low of Rs 90.05. About 41.08 lakh shares of the company changed hands at the counter.
Atmastco's IPO was subscribed 16.41 times. The issue opened for bidding on 8 February 2024 and it closed on 20 February 2024. The price of the IPO was fixed at Rs 77 per share.
The IPO comprised fresh issue of 54,80,000 equity shares and an offer for sale (OFS) of 18,25,600 equity shares by existing shareholders. The promoter and promoter shareholding diluted to 68.43% from 97.39% pre-IPO.
The company intends to utilise the net proceeds to meet working capital expenses, to make prepayment or repayment of all or a portion of certain secured and unsecured loans availed by the company, general corporate purpose and to meet offer expenses.
Atmastco is an engineering-based company engaged in the business of engineering, procurement and construction (EPC), steel fabrication and defence. The companys customer base includes a diverse set of industries including power plants, refineries, steel plants, railways, cement plants, industrial and infrastructure, chemicals, pharmaceuticals, petrochemicals, refineries, power, oil & gas explorations, etc. As on 31 August 2023, the company has 276 employees.
The company recorded revenue from operations of Rs 66.57 crore and net profit of Rs 6.28 crore for the period as on 31 August 2023.
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