Aluwind Architectural share price hits 5% upper circuit after muted debut on NSE SME

Aluwind Architectural share price made a muted debut on NSE SME today. On NSE SME, Aluwind Architectural share price opened at ₹45, which is the same as the issue price. Following a muted debut, the stock was locked in a 5% upper circuit. 

Aluwind Architectural IPO opened for subscription on Thursday, March 28, and closed on Thursday, April 4. The issue's price band was fixed at ₹45 apiece of face value of ₹10. Aluwind Architectural IPO lot size comprised of 3,000 shares. Bids could be placed for multiples of 3,000 shares, with a minimum bid of 3,000. On the last day, Aluwind Architectural IPO subscription status was 8.19 times, as per chittorgarh.com.

Also Read: Aluwind Architectural IPO: SME issue subscribed 8 times on day 5; check subscription status, GMP and other details

Aluwind Architectural Limited produces a wide variety of aluminum products and installs them. These include of windows, doors, curtain walls, cladding, and glazing systems, all of which are painstakingly made to satisfy the specific requirements of builders, architects, consultants, institutions, and businesses.

The firm has increased the number of cities in India where it sells its products, including Mumbai, Pune, Bangalore, Hyderabad, and other places. This illustrates the company's broad reach and dedication to providing national customer service.

Also Read: Upcoming IPOs: 3 SME public issues and 6 new listings scheduled for primary market this week

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Aluwind Architectural IPO details

Aluwind Architectural IPO, which is worth ₹29.70 crore, comprises a fresh issue of 6,600,000 equity shares with a face value of ₹10. This is a completely a fresh issue, and there is no offer-for-sale component.

The firm intends to use the funds collected to support the following goals in order to reap the rewards of being listed on the NSE's Emerge Platform: financing the company's general corporate expenses and working capital needs.

Jagmohan Ramshankar Kabra, Rajesh Kabra, Jagmohar Manohar Ramshankar Kabra, and Jagmohan Kabra HUF are the company's promoters.

The Aluwind Architectural IPOs book running lead manager is Corpwis Advisors Private Limited, and the registrar is Skyline Financial Services Private Ltd. Nnm Securities is the market maker for the Aluwind Architectural IPO.

Also Read: Aluwind Architectural Limited IPO allotment finalised today; GMP, steps to check IPO allotment status

Aluwind Architectural Limited IPO GMP today

Aluwind Architectural IPO GMP or grey market premium is +5. This indicates Aluwind Architectural share price were trading at a premium of ₹5 in the grey market, according to investorgain.com.

The anticipated listing price for the Aluwind Architectural IPO was ₹50 per share, which is 11.11% more than the IPO price of ₹45 when the upper end of the IPO price band and the present premium on the grey market are taken into consideration.

Grey market activity over the previous 20 sessions indicates that the IPO GMP is heading upward and that a robust listing is anticipated. According to researchers at investorgain.com, the lowest GMP is ₹0, and the maximum GMP is ₹10.

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

Also Read: Aluwind Architectural IPO announces price band at ₹45 apiece; issue to open on March 28

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 decision.