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Business News/ Markets / Ipo/  Ashish Kacholia-backed Aeroflex Industries IPO over subscribed within an hour of opening. GMP, apply or not?
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Ashish Kacholia-backed Aeroflex Industries IPO over subscribed within an hour of opening. GMP, apply or not?

Aeroflex Industries IPO GMP today: Shares of Aeroflex Industries Ltd are available at a premium of ₹65 in grey market today, say market observers

Aeroflex Industries IPO price: The company has fixed Aeroflex Industries IPO price band at ₹102 to ₹108 per equity share. (Photo: Courtesy Aeroflex Industries website)Premium
Aeroflex Industries IPO price: The company has fixed Aeroflex Industries IPO price band at 102 to 108 per equity share. (Photo: Courtesy Aeroflex Industries website)

Aeroflex Industries IPO: The initial public offering (IPO) of Ashish Kacholia-backed company Aeroflex Industries Ltd has hit primary market today. The public issue will remain open for bidding till 24th August 2023. The company has fixed Aeroflex Industries IPO price at 102 to 108 per equity share and it aims to raise 351 crore from the initial public offer. Ace investors Ashish Kacholia and Jagdish Master have picked up stake in this subsidiary of the Sat Industries Ltd, a listed entity on Dalal Street. The public issue has received strong response from investors and it has been fully subscribed within an hour of bidding.

Aeroflex Industries IPO subscription status

On day one of bidding, the public issue has been subscribed 6.72 times whereas its retail portion has been subscribed 6.71 times. The NII portion of the book build issue has been subscribed 14.11 times. The QIB portion of the book build issue has been subscribed 1.17 times.

Important Aeroflex Industries IPO details

1] Aeroflex Industries IPO GMP today: Shares of Aeroflex Industries Ltd are available at a premium of 65 in grey market today, say market observers.

2] Aeroflex Industries IPO price: The company has fixed Aeroflex Industries IPO price band at 102 to 108 per equity share.

3] Aeroflex Industries IPO date: The issue has opened today and it will remain open till 24th August 2023.

4] Aeroflex Industries IPO size: The company aims to raise 351 crore from this public issue out of which 162 crore is aimed from fresh issues while rest 189 core is reserved for offer for sale (OFS) route.

5] Aeroflex Industries IPO lot size: A bidder will be able to apply in lots and one lot of the public offer will comprise 130 company shares.

6] Aeroflex Industries IPO investment limit: As one lot of the public issue comprises 130 shares, a retail investor would require at least 14,040 ( 108 x 1300)) to apply for the public offer.

7] Aeroflex Industries IPO allotment date: The tentative date for share allocation is 29th August 2023.

8] Aeroflex Industries IPO registrar: Link Intime India Private Ltd has been appointed as official registrar of the IPO.

9] Aeroflex Industries IPO listing: The book build issue is proposed for listing on BSE and NSE and tentative Aeroflex Industries IPO listing date is 1st September 2023.

10] Aeroflex Industries IPO review: Giving 'subscribe' tag to the public offer, Anubhuti Mishra, Equity Research Analyst at Swastika Investmart said, "Aeroflex's future strategies look promising. The company plans to expand its global and domestic businesses, and it is investing in new technologies to improve its products. We believe that these strategies have the potential to drive long-term growth and profitability for the company. Overall, we believe that the Aeroflex Industries Limited IPO is a good investment opportunity. We recommend to SUBSCRIBE this IPO."

SBI Securities also gave 'subscribe' tag for long term citing, "At CMP, the company is valued at a PE multiple of 46.3x based on its FY23 earnings at the upper price band on post-issue capital. The company don’t have any listed peer in India. The company has a unique business model in the Flexible Flow solution area. With decent return ratios and margins, the risk reward ratio for long term investors looks favourable. The investors can subscribe to the IPO for a long term investment perspective."

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

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 22 Aug 2023, 09:06 AM IST
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