Aeroflex Industries IPO: Ashish Kacholia-backed issue subscribed 21.10 times on day 2; check details

Aeroflex Industries IPO subscription status : Ashish Kacholia backed Aeroflex Industries Limited IPO was subscribed 21.10 times on day 2. Aeroflex Industries IPO opened for subscription on Tuesday, August 22 and will close on Thursday, August 24.

Aeroflex Industries IPO again received overwhelming response from non-institutional investors (NIIS) and retail investors on day 2. Qualified institutional buyers also responded positively to the issue on the second day. All three categories were oversubscribed on day 2.

Aeroflex IPO's retail investors portion was subscribed 17.78 times, NII portion was subscribed 46.42 times, and QIBs portion was subscribed 8.05 times.

Portion reserved for shareholders was subscribed 11.46 times.

Aeroflex IPO was subscribed 6.72 times on day 1.

Aeroflex Industries IPO subscription status

Aeroflex Industries Limited IPO has received bids for 48,98,46,370 shares against 2,32,17,667 shares on offer, according to data from the BSE.

Aeroflex Industries IPO's retail investors' portion received bids for 20,46,65,370 shares against 1,15,08,824 shares on offer for this segment.

Aeroflex Industries Limited IPO's non-institutional investors' portion received bids for 22,89,55,740 shares against 49,32,353 on offer for this segment.

Aeroflex Industries IPO's QIBs portion received bids for 5,04,94,730 shares against 62,76,490 on offer for this segment.

Also Read: Aeroflex Industries IPO Day 1: Ashish Kacholia-backed issue subscribed 6.72 times; retail portion booked 6.71x

Aeroflex Industries IPO details

Aeroflex Industries IPO price band has been fixed at ₹102 to ₹108 per equity share for the proposed initial public offer. Bids can be made for a minimum of 130 equity shares and in multiples of 130 equity shares thereafter.

Aeroflex Industries IPO comprises of fresh issue of equity shares up to the value of ₹162 crore and an offer-for-sale (OFS) of up to 1.75 crore equity shares by the promoters selling shareholders and promoter group make up the offer, which has a face value of ₹2 per equity share.

According to the DRHP, the fresh issue's proceeds will be used to pay up debt, meet working capital needs, and set aside a portion for general corporate uses and acquisitions for inorganic development.

Aeroflex Industries IPO's basis of allotment of shares will be finalised on Tuesday, August 29 and the company will initiate refunds on Wednesday, August 30, while the shares will be credited to the demat account of allottees on Thursday, August 31. Aeroflex Industries Limited IPO shares are likely to be listed on BSE and NSE on Friday, September 1.

Pantomath Capital Advisors Private Ltd is the sole BRLM for the offer, and Link Intime India Private Ltd is the registrar.

Aeroflex Industries Limited IPO GMP today

Aeroflex IPO GMP today or grey market premium is +72, higher than previous sessions. This indicates Aeroflex Industries share price were trading at a premium of ₹72 in the grey market on Wednesday, according to topsharebrokers.com.

Considering the upper end of the Aeroflex Industries IPO price band and the current premium in the grey market, the estimated listing price of Aeroflex Industries IPO share price is ₹180 apiece, which is 66.67% higher than the IPO price.

According to topsharebrokers.com, today's IPO GMP trend indicates upside and expects a strong listing. The lowest GMP is recorded at ₹17 while the highest GMP is ₹72.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Ashish Kacholia backed Aeroflex Industries IPO opens next week, check key dates to price band