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Business News/ Markets / Ipo/  Aeroflex Industries IPO: What does GMP signal ahead of listing tomorrow? Check here
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Aeroflex Industries IPO: What does GMP signal ahead of listing tomorrow? Check here

Aeroflex Industries IPO listing date has been fixed on August 31. The company raised ₹351 crore from the initial share sale.

Aeroflex Industries IPO price: The company has fixed price band of the public offer at ₹102 to ₹108 per equity share. (Photo: Company Website)Premium
Aeroflex Industries IPO price: The company has fixed price band of the public offer at 102 to 108 per equity share. (Photo: Company Website)

Aeroflex Industries IPO: Ashish Kacholia backed Aeroflex Industries Ltd is set to make its stock market debut on Thursday. The initial public offering (IPO) of Aeroflex Industries, the manufacturer of metallic flexible flow solution products, received strong investors’ response during its subscription period from August 22 to August 24.

Aeroflex Industries IPO listing date has been fixed on August 31. Aeroflex Industries raised 351 crore from the initial share sale.

The current trends in the grey market indicate a strong listing for Aeroflex Industries shares on BSE and NSE.

Let us take a look at what Aeroflex Industries IPO GMP signals ahead of listing tomorrow:

Aeroflex Industries IPO GMP Today

Aeroflex Industries IPO GMP today, or grey market premium today, is 69 per share. This indicates Aeroflex Industries IPO share price is trading at a premium of 69 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 Aeroflex Industries IPO share listing price would be 177 apiece, which is 63.89% higher than the IPO price.

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

Aeroflex Industries IPO Subscription Status

The Ashish Kacholia backed Aeroflex Industries IPO was subscribed 97.11 times in total.

A stunning 194.73 times subscription was received in the Qualified Institutional Buyers (QIBs) category and 126.13 times in the Non-Institutional Investors (NII) category. Retail quota was booked 34.41 times.

Also Read: Aeroflex IPO receives response worth 24,500 crore. Check GMP, how to check allotment

The company had raised 103.68 crore from anchor investors a day ahead of its IPO opening.

The Aeroflex Industries IPO's diversified anchor book included 10 anchors, including as mutual funds, large insurance and NBFC treasuries, alternative investment funds (AIFs), and foreign portfolio institutions.

The following institutions participated in the anchor: the Institutional Treasuries included Winro Commercial India and Universal Sampo General Insurance; the Mutual Funds included Nippon Mutual Fund, Invesco Mutual Fund, White Oak Mutual Fund, and BOI Mutual Fund; the AIFs included Quantun State Investment Fund and Negen Undiscovered Value Fund; and the Foreign Institution: Societe Generale.

Read here: Aeroflex Industries IPO: Ashish Kacholia-backed IPO mobilises 103 crore from anchor investors ahead of subscription

Prior to the IPO, notable investors like Ashish Kacholia, Jagdish Master, and Vikas Khemani, who led the Carlenien Fund, Rosy Blue India, the VPK Global Ventures Fund, Shyam Agarwal, and others, acquired about 7% of Aeroflex.

Aeroflex Industries IPO details

Aeroflex IPO opened for subscription on August 22 and closed on August 24. The IPO price band was 102 to 108 per equity share.

Aeroflex Industries IPO comprised 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.

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.

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

Also Read: Bondada Engineering makes stellar debut; shares list with 90% premium at 142.5 apiece on BSE SME

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Published: 30 Aug 2023, 03:21 PM IST
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