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Business News/ Markets / Ipo/  Ashish Kacholia-owned Aeroflex Industries shares list with 83% premium at 197.40 apiece on BSE
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Ashish Kacholia-owned Aeroflex Industries shares list with 83% premium at ₹197.40 apiece on BSE

On NSE, Aeroflex Industries shares were listed at ₹190.00 apiece, a premium of nearly 76% to the issue price.

The ₹351-crore worth Aeroflex Industries IPO was subscribed 97.11 times in total. (Photo: Courtesy Aeroflex Industries Ltd website)Premium
The 351-crore worth Aeroflex Industries IPO was subscribed 97.11 times in total. (Photo: Courtesy Aeroflex Industries Ltd website)

Aeroflex Industries IPO Listing: Ashish Kacholia backed Aeroflex Industries Ltd made a stellar stock market debut on Thursday. Aeroflex Industries shares were listed with a premium of 82.78% at 197.40 apiece on the BSE as against the issue price of 108 per share.

On NSE, Aeroflex Industries shares were listed at 190.00 apiece, a premium of nearly 76% to the issue price.

The initial public offering (IPO) of Aeroflex Industries, the manufacturer of metallic flexible flow solution products, received strong response from investors during its subscription period from August 22 to August 24.

The 351-crore worth Aeroflex Industries IPO was subscribed 97.11 times in total. It received a stunning 194.73 times subscription 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.

Aeroflex IPO price band was 102 to 108 per equity share. The 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.

The company had raised 103.68 crore from anchor investors a day ahead of its IPO opening. The diversified anchor book included 10 anchors, including mutual funds, large insurance and NBFC treasuries, alternative investment funds (AIFs), and foreign portfolio institutions.

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

The company will utilise the fresh issue's proceeds 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 were the sole BRLM for the offer, and Link Intime India Private Ltd is the registrar.

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Published: 31 Aug 2023, 10:02 AM IST
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