Aesthetik Engineers share price makes a stellar debut, stock opens with 90% premium at ₹110.20 apiece on NSE SME

Aesthetik Engineers share price made a stellar debut on NSE SME today. Aesthetik Engineers share price today opened at ₹110.20, which is 90% higher than the issue price of ₹58.

The initial public offering (IPO) of Aesthetik Engineers had a subscription period that ran from August 8, until August 12. With a face value of ₹10, shares in the Aesthetik Engineers IPO are priced between ₹55 and ₹58. At least 2000 of those shares are up for bid, and there are multiples of those shares available. Aesthetik Engineers IPO subscription status was 705.26 times on the last day of bidding.

Aesthetik Engineers Ltd was established in 2003 and offers interior design services in addition to designing, producing, and installing façade systems.

For hotel, residential, commercial, and infrastructure projects, the firm offers design, engineering, manufacturing, and installation of architectural façades, aluminum doors and windows, railings, staircases, and Glassfibre Reinforced Concrete (GFRC).

As per the red herring prospectus (RHP), the company's sole listed peer is Innovators facade System Ltd (with a P/E of 28.00).

Between March 31, 2024, and March 31, 2023, Aesthetik Engineers Limited's profit after tax (PAT) climbed by 346.76%, while its revenue increased by 50.64%.

Aesthetik Engineers IPO details

The Aesthetik Engineers IPO, valued ₹26.47 crore, includes a fresh issuance of 4,564,000 equity shares with a face value of ₹10. There is no "offer for sale" component.

The company intends to utilise the net proceeds from the offering to the following goals: covering the issue costs; meeting working capital requirements; meeting capital expenditure requirements; broadening corporate purposes; and meeting capital expenditure requirements.

The registrar for the Aesthetik Engineers IPO is Skyline Financial Services Private Ltd, while the book running lead manager is Narnolia Financial Services Ltd. Nikunj Stock Brokers is the market maker for the IPO of Aesthetik Engineers.

Aesthetik Engineers IPO GMP today

Aesthetik Engineers IPO GMP is +45. This indicates Aesthetik Engineers share price were trading at a premium of ₹45 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Aesthetik Engineers share price was indicated at ₹103 apiece, which is 77.59% higher than the IPO price of ₹58.

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

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.