ATC Energies IPO Listing : A Strategic Leap in Lithium-Ion Battery Innovation

ATC Energies System Limited, a manufacturer of lithium-ion batteries and integrated energy storage systems, made its market debut on the NSE SME platform on April 2, 2025. The company specializes in custom battery solutions for sectors such as banking, automobiles, industrial UPS systems, and renewable energy applications. ATC Energies focuses on in-house engineering, advanced testing infrastructure, and expanding manufacturing units in Vasai, Thane, and Noida. Its diversified product portfolio, supported by quality-driven leadership, offers long-term value in a sector critical to India’s energy future.

ATC Energies IPO Listing Details

The IPO of ATC Energies was launched on the NSE SME platform from March 25 to March 27, 2025. The offering included a fresh issue of 43.24 lakh shares worth ₹51.02 crore. Along with an offer for sale of 10.80 lakh shares aggregating ₹12.74 crore, the total issue size to ₹63.76 crore. The IPO followed a book-building route with a price band of ₹118 per share. The minimum lot size was 1,200 shares, requiring a retail investment of ₹1,41,600.

• લિસ્ટિંગ કિંમત: ATC Energies debuted its stock market on April 2, 2025, with shares listing at ₹107 on the NSE SME platform, ₹11 or 9.3% below the issue price of ₹118. During its opening trades, the company achieved a market capitalisation of ₹240.59 crore.
• રોકાણકારની ભાવના: The IPO received a moderate response, with total subscriptions reaching 1.61 times. Retail investors led the momentum with a 2.49x subscription. Qualified Institutional Buyers (QIBs) subscribed at 1.38x, while Non-Institutional Investors (NIIs) participated at 0.81x. Anchor investors invested ₹10.89 crore, reflecting institutional interest ahead of the listing.
   

First-Day Trading Performance of Shri Ahimsa Naturals

The NSE SME platform welcomed ATC Energies on April 2, 2025. The listing opened below expectations at ₹107, trading at a discount despite pre-listing interest. While there was no major price jump, investor engagement remained steady, especially among retail participants. Analysts noted the cautious optimism, attributing it to valuation sensitivities and overall market conditions. ATC Energies’ business model, spanning critical energy storage verticals, gives it a strong positioning in the battery manufacturing segment, with room for long-term appreciation.
 

બજાર ભાવના અને વિશ્લેષણ

ATC Energies's IPO entered the market when India’s energy storage and EV ecosystem expanded rapidly. The company’s focus on lithium-ion battery innovation aligns with national clean energy and technology adoption goals.

• પોઝિટિવ ઇન્વેસ્ટર રિસ્પોન્સ: Despite a discount listing, the IPO drew fair interest, particularly from retail investors. The company’s customized B2B battery solutions and commitment to quality assurance resonated with investors seeking exposure to emerging energy sectors.
• Anticipated Listing Performance: Analysts expect stable near-term movement, with long-term growth potential driven by operational execution and capacity expansion. ATC Energies’ factory upgrades, IT investments, and working capital infusion will likely enhance production capability and profitability. Its integration into the broader EV and green tech value chain supports future momentum.
   

ગ્રોથ ડ્રાઇવર્સ અને ચેલેન્જ

ATC Energies operates within the rapidly evolving clean energy and storage space. Its customised, in-house engineered lithium-ion batteries offer flexibility and performance across use cases.

ગ્રોથ ડ્રાઇવર્સ

• Expanding Demand for Batteries: Applications across banking, automobiles, UPS systems, and solar energy continue to grow.
• Customised Solutions: Tailor-made battery designs for specific client needs help generate better margins.
• Strong Manufacturing Base: Facilities in Vasai, Thane, and Noida are equipped with temperature chambers, welding systems, and advanced testers.
• Anchor Investor Support: ₹10.89 crore raised from institutional anchors ahead of the IPO listing.
• Export Potential: Increasing global demand for battery storage solutions opens up international opportunities.
• Government Push for Clean Energy: A favorable policy environment and EV adoption indirectly support the company’s business model.

Challenges

• Intense Industry Competition: Competes with established local and international battery manufacturers.
• Price Volatility in Raw Materials: Cost fluctuations in lithium and other inputs may affect margins.
• Discounted Listing: This may signal market caution around pricing or financial scalability.
• Subdued NII Response: Non-institutional investors remained relatively reserved, with subscriptions at only 0.81x.

IPO આવકનો ઉપયોગ 

The company plans to utilize IPO funds across multiple key areas to support growth, operational strength, and debt management:

• Loan Repayment: ₹9.53 crore will be used for repaying or prepaying borrowings related to the purchase of the Noida factory.
• મૂડી ખર્ચ: ₹6.72 crore is allocated for refurbishment, civil work, and upgrades at the Noida facility.
• IT Infrastructure: ₹7.47 crore will be used for IT upgradation at the Noida and Vasai factories and the company’s registered office.
• કાર્યકારી મૂડી: ₹9.5 crore is set aside to support daily business operations and future expansion.
• સામાન્ય કોર્પોરેટ હેતુઓ: The remaining funds will focus on business development and contingencies.

Financial Performance of ATC Energies 

ATC Energies has demonstrated consistent revenue growth and healthy profitability trends across recent financial periods.

• આવક: Revenue reached ₹51.51 crore in FY24 and ₹22.57 crore in the first half of FY25 (April–September 2024), indicating robust demand and stable operations.
• ચોખ્ખો નફો: ₹10.89 crore was recorded in FY24, followed by ₹5.77 crore during the first half of FY25, reflecting strong cost control and operational efficiency.
• ચોખ્ખી કિંમત: The company’s net worth increased to ₹38.87 crore by September 2024, highlighting improved equity strength and business expansion.
• ઇક્વિટી પર રિટર્ન (આરઓઇ): As per financial indicators, ROE and RoNW both stand at 39.38%, the PAT margin is at 21.27%, and the Price-to-Book ratio is estimated at 5.73x.

The IPO listing of ATC Energies on NSE SME marks a new growth phase. With a focus on innovation in lithium-ion battery technology and tailored energy solutions, the company is poised to deliver long-term value. Analysts believe its efficient operations, sector-specific positioning, and consistent financial performance provide a strong foundation for future expansion and investor confidence.