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Business News/ Markets / Ipo/  Aztec Fluids & Machinery IPO: Issue oversubscribed on day 3 led by retail, NIIs; Check GMP, more.
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Aztec Fluids & Machinery IPO: Issue oversubscribed on day 3 led by retail, NIIs; Check GMP, more.

Aztec Fluids & Machinery IPO opened on May 10 and will close on May 14, with a price band of ₹63 to ₹67 per share. The company offers coding and marking solutions for various industries, with a product line including printers, inks, and consumables.

Aztec Fluids & Machinery IPO has opened for subscription today (Friday, May 10), and will close on Tuesday, May 14. (https://www.aztecindia.org/)Premium
Aztec Fluids & Machinery IPO has opened for subscription today (Friday, May 10), and will close on Tuesday, May 14. (https://www.aztecindia.org/)

Aztec Fluids & Machinery IPO has opened for subscription on Friday, May 10, and will close on Tuesday, May 14. The IPO price band has been fixed in the range of 63 to 67 per equity share of face value of 10 each. There are 2,000 shares in each IPO lot. 2,000 equity shares is the minimum application size; beyond that, applications will be accepted in multiples of 2,000 equity shares.

The company offers coding and marking solutions to a wide range of industries, including personal care, food and beverage, pharmaceuticals, construction materials, cables, wires & pipes, metals, automotive & electronics, agrochemicals, chemicals & petrochemicals, etc., according to the Red Herring Prospectus (RHP).

The product portfolio consists of the following: (i) printers, such as thermal transfer over (TTO), laser, NIJ (i.e., piezoelectric) and continuous inkjet (CIJ) printers; (ii) printer inks; and (iii) printer consumables, such as makeup and cleaning solvents.

Also Read: Indegene IPO allotment out. Latest GMP, listing date, how to check status

With the help of the company's product line, customers can print key pieces of information on products like steel tubes, aluminium panels, G.I. sheets, laminates, glass, PVC, plywood, woven sacs, corrugated boxes, plastics, and packing materials, including batch numbers, dates, prices, logos, brands, and sizes.

The company's sole listed peer is Control Print Ltd (with a P/E of 29.13). 

From March 31, 2022 to March 31, 2023, Aztec Fluids & Machinery Limited's profit after tax (PAT) climbed by 5.18% while its sales increased by 17.46%.

Aztec Fluids & Machinery IPO Subscription Status

Aztec Fluids & Machinery IPO subscription status is 218.38 times, on day 3. The retail portion has been subscribed 228.43 times, and NII portion has been booked 341.94 times on day 3. Qualified Institutions Buyers (QIBs) is booked 107.93 times.

The company has received bids for 52,32,40,000 shares against 23,96,000 shares on offer, according to data on chittorgarh.com.

Aztec Fluids & Machinery IPO subscription status is 3.97 times, on day 1, and on the second day the issue was booked 20.78 times. 

Also Read: Refractory Shapes IPO allotment in focus; latest GMP, 4 steps to check share allotment status

Aztec Fluids & Machinery IPO details 

Aztec Fluids & Machinery IPO, which is worth about 24.12 crore, consists of a fresh issue of 3,600,000 equity shares with a face value of 10. There is no offer-for-sale component.

The company intends to use the net issuance proceeds for the following purposes: financing the planned purchase of Jet Inks Private Limited equity shares, repayment of some of the Company's borrowed funds as well as the General Corporate Purpose.

The book running lead manager for the Aztec Fluids & Machinery IPO is Hem Securities Limited, and the registrar is Bigshare Services Pvt Ltd. The market maker for Aztec Fluids & Machinery's IPO is Hem Finlease.

Also Read: Finelistings Technologies IPO allotment to be finalised today; latest GMP, 4 steps to check status

Aztec Fluids & Machinery IPO GMP today 

Aztec Fluids & Machinery IPO GMP or grey market premium is +35. This indicates Aztec Fluids & Machinery share price were trading at a premium of 35 in the grey market, according to investorgain.com.

Shares of Aztec Fluids & Machinery are expected to list at a price of 102 per share, 52.24% more than the IPO price of 67, after accounting for the top end of the IPO pricing range and the current premium on the grey market.

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

Also Read: Slone Infosystems share price makes a bumper debut, stock opens with 50% premium at 118.50 apiece on NSE SME

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.

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Published: 10 May 2024, 01:37 PM IST
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