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Atmastco IPO
Price Band
₹
Issue Size
₹56.25 Cr
Lot Size
1,600 shares
Min Investment
₹123,200
GMP
+₹6.0 (7.79%)
Issue Price
₹77.0
Subject to Sauda
₹7300
Paid only if allotted
Atmastco IPO AI Summary
- Atmastco IPO is listed on NSE SME in the Civil Construction sector.
- Subscription window: 15 Feb–20 Feb 2024, listing on 23 Feb 2024.
- Current GMP is +₹6.0 (7.79%) — unofficial and can change daily.
Atmastco Limited is a civil construction company with a diverse portfolio and a focus on turnkey projects. With a strong growth trajectory in total income and a well-defined use of IPO proceeds, it presents an interesting opportunity for investors, though they should consider the associated risks.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Atmastco IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 20 Feb 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Atmastco IPO Grey Market Premium (GMP) Today
GMP
+₹6.0
GMP %
+7.79%
Est. Listing
₹83.0
Updated: 25 Jul 2026 14:07
About the Company
Incorporated in April 1994, Atmastco Limited is a turnkey/EPC contractor, providing multi-disciplinary services and project management solutions in the ferrous and non-ferrous sectors. The company is also involved in the manufacturing of various precision equipment and heavy fabrication structures used in different industrial applications. These products include Ceiling Girder, Railway Girder, Columns & Bracings, Bolted Structures, Equipment's and Pressure ducts, Box Columns, and more. They are widely used in construction of Power and Energy, Steel Plants, Cement Plants, Railway Bridges, Water Treatment Plants, Refinery & Fertilizer plants, and Pre-Engineered Building. The company's business comprises of three verticals EPC/Turnkey Projects Fabrication/Manufacturing Defense The customer base encompasses a wide range of industries, including power plants, refineries, steel plants, railways, cement plants, industrial and infrastructure, chemicals, pharmaceuticals, petrochemicals, and oil and gas explorations. As of January 31st, 2024, the company has a portfolio of 14 ongoing projects. The company's business operations have displayed an upward trend, which is evident in the growth of its total income as per the Restated Consolidated Financial Statements. The income has increased from Rs. 9,46,814.26 Thousand in F.Y. 2021-2022 to Rs. 24,27,875.62 Thousand in F.Y. 2022-2023. The company has two manufacturing facilities. One is located opposite Karuna Hospital in Bhilai, Durg, Chhattisgarh, and the second unit is located in Dhamdha, District Durg, Chhattisgarh. The company established a separate legal entity for its wholly-owned subsidiary (WOS) called Atmastco Defence Systems Private Limited on July 22, 2020. This subsidiary is responsible for manufacturing bulletproof jackets and helmets specifically for military use, as well as full-body protectors for female troops and related activities. The company employs 276 people in various departments.
Company Financials (₹ Cr)
As of 2023-08-31
| Period Ended | 31 Aug 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 243.92 | 236.21 | 132.74 | 120.36 |
| Total Income | 67.00 | 242.79 | 94.68 | 69.91 |
| Profit After Tax | 6.29 | 12.78 | 3.23 | 0.60 |
| NET Worth | 62.59 | 55.20 | 42.35 | 39.12 |
| Reserves and Surplus | 47.64 | 40.39 | 27.54 | 24.31 |
| Total Borrowing | 73.17 | 71.26 | 51.56 | 54.10 |
Key Ratios
EPS
₹6.64
NAV
₹37.27
ROE
23.15%
ROCE
29.91%
RoNW
23.15%
P/B Value
0.13
P/E Ratio
11.6
Market Cap
₹190.46 Cr
PAT Margin
5.28%
Debt/Equity
0.48
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Atmastco Limited This IPO | 612.64 | 23.15% | 11.6 | 6.64 | 6.64 |
Promoters
Subramaniam Swaminathan Iyer, Venkataraman Ganesan, Jayasudha Iyer and Apex Steel & Technology (India) Pvt.Ltd.
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 To meet working capital Expenses 11.78 2 To Prepayment and repayment of all a portion of certain Secured and Unsecured loan availed by our company 10.41 3 General Corporate Purposes* 13.26 4 To meet the Offer Related Expenses 6.75
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income increased from ₹94.68 Cr in the year ending 31 Mar 2022 to ₹242.79 Cr by 31 Mar 2023. This growth continued with a total income of ₹67.00 Cr reported as of 31 Aug 2023, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax rose from ₹3.23 Cr in the year ending 31 Mar 2022 to ₹12.78 Cr by 31 Mar 2023. As of 31 Aug 2023, the Profit After Tax was ₹6.29 Cr, which again is a 9-month figure and not directly comparable to full-year results.
Valuation
At the issue price of ₹77.0, Atmastco Limited's implied P/E ratio is approximately 11.6 times its earnings per share (EPS) of ₹6.64. This is in line with its peer group, which also trades at a P/E ratio of 11.6.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on unofficial trading in the grey market before the actual listing. A positive GMP suggests that the IPO might list at a higher price than the issue price, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's important to consider the company's financial health and market position.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid IPOs like this, especially if they are concerned about the potential for price fluctuations on listing day.
IPO Timeline, Explained
The IPO opens on February 15, 2024, and closes on February 20, 2024. Allotment of shares will be done on February 21, 2024, followed by the listing on February 23, 2024.
Listing Gains — The Risk
Listing gains can be unpredictable and are influenced by market conditions, investor sentiment, and the company's performance. While some IPOs may see a surge in price on their listing day, others may not. Investors should be prepared for the possibility of both gains and losses.
This evaluation is generated from Atmastco's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Atmastco IPO GMP today?
Atmastco IPO GMP today is +₹6.0 (7.79%). GMP is an unofficial grey-market indicator and can change daily.
When does Atmastco IPO open and close?
Atmastco IPO opens on 15 February 2024 and closes on 20 February 2024.
When does Atmastco IPO list on the stock exchange?
Atmastco IPO listed on 23 February 2024 at ₹83.0.
What is the lot size for Atmastco IPO?
The lot size for Atmastco IPO is 1600 shares, requiring a minimum investment of ₹123,200.
What is the issue price of Atmastco Limited's IPO?
The issue price is ₹77.0.
What is the minimum investment required?
The minimum investment required is ₹123,200.0.
What is the lot size for the IPO?
The lot size is 1600 shares.
When does the IPO open and close?
The IPO opens on February 15, 2024, and closes on February 20, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
15 Feb 2024
Close
20 Feb 2024
Allotment
21 Feb 2024
Listing
23 Feb 2024
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