Aeroflex Industries IPO Day 2: Subscription Status and Other Details:
In a resounding show of investor confidence, the Aeroflex Industries IPO, endorsed by notable investor Ashish Kacholia, witnessed an exceptional subscription rate of 21.10 times on the second day of its offering. Commencing its subscription window on Tuesday, August 22, the Aeroflex Industries IPO is set to conclude on Thursday, August 24.
The second day of the IPO continued to witness a fervent response from retail investors, non-institutional investors (NIIs), and qualified institutional buyers (QIBs). Impressively, all three investor categories displayed overwhelming oversubscription.
Retail investors exhibited significant interest, oversubscribing their portion by 17.78 times, while the NII segment showcased remarkable enthusiasm with a subscription rate of 46.42 times. Qualified institutional buyers also displayed keen interest, subscribing at a rate of 8.05 times.
Moreover, the allocation reserved for shareholders garnered a substantial subscription rate of 11.46 times.
The initial day of the Aeroflex IPO saw a subscription rate of 6.72 times, marking a promising start to the offering.
Aeroflex Industries IPO Subscription in Detail:
Astonishingly, the Aeroflex Industries Limited IPO garnered bids for a staggering 48,98,46,370 shares against the available 2,32,17,667 shares, based on data from the BSE.
For the retail investors’ segment, the bids reached an impressive 20,46,65,370 shares against the allotted 1,15,08,824 shares.
The non-institutional investors’ segment exhibited fervor as bids were submitted for 22,89,55,740 shares, surpassing the 49,32,353 shares on offer.
In the QIBs portion, the subscription rate reached 5,04,94,730 shares against the available 62,76,490 shares.
Aeroflex Industries IPO Insight:
The Aeroflex Industries IPO is priced within a range of ₹102 to ₹108 per equity share for its proposed public offering. Interested participants can place bids starting from a minimum of 130 equity shares, with subsequent bids being in multiples of 130 equity shares.
The IPO comprises a fresh issue of equity shares valued at up to ₹162 crore, along with an offer-for-sale (OFS) of up to 1.75 crore equity shares. The OFS includes equity shares being divested by the promoters, selling shareholders, and members of the promoter group, each share having a face value of ₹2.
Proceeds from the fresh issue will be strategically allocated towards debt repayment, fulfilling working capital requirements, and setting aside resources for general corporate purposes and potential acquisitions to foster inorganic growth, as outlined in the DRHP.
Aeroflex Industries IPO Dates:
The basis for allotting shares in the Aeroflex Industries IPO will be finalized on Tuesday, August 29. Subsequently, refund processes will be initiated on Wednesday, August 30, and the credited shares will reflect in allottees’ demat accounts by Thursday, August 31. The anticipated listing date for Aeroflex Industries Limited IPO shares on the BSE and NSE is Friday, September 1.
Notably, the offering is under the aegis of Pantomath Capital Advisors Private Ltd as the sole BRLM (Book Running Lead Manager), with Link Intime India Private Ltd acting as the registrar.
Aeroflex Industries IPO GMP:
Presently, the grey market premium (GMP) for the Aeroflex IPO stands at an impressive +72, indicating a rise from the previous sessions. This development suggests that the shares of Aeroflex Industries are trading at a premium of ₹72 in the grey market as of Wednesday, according to insights from topsharebrokers.com.
Considering the upper limit of the Aeroflex Industries IPO price band along with the ongoing grey market premium, projections suggest an estimated listing price of ₹180 per share. This projected value signifies a remarkable increase of 66.67% over the IPO price.
Topsharebrokers.com’s assessment of today’s IPO GMP trend points toward an upward trajectory, hinting at a robust listing ahead. GMP figures range from ₹17 as the lowest to ₹72 as the highest.
About Aeroflex Industries:
Founded in 1993 and previously named Suyog Intermediates Private Limited, Aeroflex Industries Limited is a company focused on manufacturing and supplying eco-friendly flexible metallic flow solutions. Their product range includes a variety of options such as braided and unbraided hoses, solar hoses, gas and vacuum hoses, interlock hoses, hose assemblies, jacketed hose assemblies, exhaust connectors, expansion bellows, compensators, and related fittings. As of March 31, 2023, the company has developed an extensive product portfolio comprising over 1,700 distinct Stock Keeping Units (SKUs).
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