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

IPO news: Ashish Kacholia backed Aeroflex Industries IPO was subscribed 97 times and received a response worth ₹24,500 crore. Together, the Pre-IPO and IPO of Aeroflex raised ₹427 crores for the company and its corporate promoter, Sat Industries Ltd. Pre-IPO investments totalled ₹76 crores, and the IPO raised ₹351 crores.

Aeroflex Industries IPO had a resoundingly positive response across the board, to the point where the level of subscription exceeded several other benchmarks. A stunning 190.47 times were subscribed to in the category of Qualified Institutional Buyers (QIBs), compared to 129.06 times for Non-Institutional Investors, 34.55 times for Retail Individual Investors (RIIs), and 12.41 times for Holding Company Shareholders.

Notably, according to BSE/NSE disclosures, the Aeroflex IPO attracted more than 27 lakh applications, which is the largest number of applications received for IPOs in 2023.

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.

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 Industries Limited IPO opened for subscription on Tuesday, August 22 and closed on Thursday, August 24. The company fixed the price band at ₹102 to ₹108 per equity share for the proposed initial public offer.

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.

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

Aeroflex Industries IPO allotment date

Aeroflex Industries IPO's basis of allotment of shares has been finalised today (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.

The investors who applied for the issue can check the Aeroflex Industries IPO allotment status in the registrar's portal, which is Link Intime India Private Ltd.

Also Read: Aeroflex Industries IPO allotment tomorrow: Latest GMP, here's how to check allotment status

Aeroflex Industries IPO allotment links

As mentioned above, a bidder can check one's Aeroflex Industries IPO allotment status online by logging in at BSE website or at Link Intime website. However, for convenience, they can login at direct BSE link — https://www.bseindia.com/investors/appli_check.aspx

or at direct Link Intime link — https://linkintime.co.in/MIPO/Ipoallotment.html

Also Read: Aeroflex Industries IPO allotment date today. Latest GMP, how to check allotment status

Aeroflex Industries IPO GMP today

Aeroflex Industries IPO GMP today or grey market premium is +70, similar to previous three sessions. This indicates Aeroflex Industries IPO share price were trading at a premium of ₹70 in the grey market on Tuesday, 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 ₹178 apiece, which is 64.81% 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.