ATS Techno Limited Submits IPO Documents to SEBI for New Issue of 66 Lakh Equity Shares

Ahmedabad, September 30, 2025: ATS Techno Limited , provider of surface engineering and thermal spray solutions, has submitted its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to make a Fresh Issue of 66 Lakh equity shares. The Ahmedabad company, which specializes in engineered steel rolls and heavy industry advanced coating technologies, proposes to raise new capital through the issue.

Established in 2004 as Associated Thermal Spray Pvt. Ltd., ATS Techno Limited is a surface engineering and thermal spray coating company. The company produces engineered steel rolls and components, and provides superior coating solutions for steel, power, petrochemicals, paper, and hydro industries. Its premises are based in Ahmedabad and Kuha (Gujarat), with expansion in progress at Bellary.

ATS Techno Limited IPO Details

The proposed issue comprises a fresh issue of up to 66,00,000 equity shares with a face value of ₹10 each. The Initial Public Offering (IPO) will be conducted through a 100% book-building process, with the final price band to be determined in consultation with the Book Running Lead Manager, ensuring market-driven pricing.

ATS Techno Limited IPO Objects of the Issue

As per the Draft Red Herring Prospectus (DRHP), the net proceeds from the IPO are earmarked for capital expenditure, repayment of debt, and working capital requirements. Specifically, ₹1,769.48 lakh is allocated for factory buildings, ₹1,170.81 lakh for plant and machinery at the Kuha facility, and ₹852.25 lakh for plant and machinery at the Bellary unit. Additionally, ₹1,200 lakh is intended for repayment of secured borrowings, ₹905 lakh for working capital needs, with the balance designated for general corporate purposes. The company has also availed bridge loans of ₹795 lakh from Kotak Mahindra Bank, which are planned to be repaid using a portion of the IPO proceeds.

ATS Techno Limited IPO Financial Performance

ATS Techno has demonstrated consistent growth over the past three financial years. Its operating revenue surged from ₹4,779.64 lakh in FY23 to ₹8,783.15 lakh in FY25, reflecting strong business expansion. Profit after tax more than doubled during the same period, rising from ₹233.96 lakh in FY23 to ₹1,274.53 lakh in FY25, while earnings per share increased sharply from ₹32.95 to ₹179.51. Total assets also showed substantial growth, reaching ₹8,261.45 lakh in FY25 compared with ₹4,005.21 lakh in FY23, underlining the company’s expanding operational scale and financial strength.

ATS Techno Limited IPO Strategic Collaborations

The company has also allied with Japan’s TOCALO Co. Ltd., a world leader in coating technologies, to introduce sophisticated thermal spray solutions in India. Such an association aids its competitive positioning in domestic and foreign markets.

ATS Techno Limited IPO Promoters and Shareholding

The promoters of the company, Bhavesh Oza and Radhaben Oza, together own over 85% of pre-issue equity capital. After the issue, the shareholding will get diluted, subject to final allotment.

ATS Techno Limited IPO Issue Structure

According to the DRHP, the pre-issue equity capital consists of 1.77 crore shares of face value ₹10 each. The IPO will reserve up to 50% of shares for Qualified Institutional Buyers (including Anchor investors), at least 35% for retail investors, and at least 15% for Non-Institutional Investors.

ATS Techno Limited IPO Market Presence

ATS Techno serves both domestic and foreign customers, with overseas sales to the USA, Europe, the UAE, and Australia. The IPO for the company is a move towards enhancing its balance sheet and facilitating capacity growth in high-value sectors.

REF: https://nsearchives.nseindia.com/emerge/corporates/content/Registration_26092025151524_DRHP26092025.pdf

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