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Business News/ Markets / Stock Markets/  Aimtron Electronics IPO Day 3: Issue subscribed over 14 times so far; Check latest GMP, other key details of SME IPO
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Aimtron Electronics IPO Day 3: Issue subscribed over 14 times so far; Check latest GMP, other key details of SME IPO

Aimtron Electronics IPO price band is set at ₹153 to ₹161 per share. At the upper-end of the price band, Aimtron Electronics IPO size comes at ₹87.02 crore. The book-built issue is entirely a fresh issue of 54.05 lakh equity shares.

Aimtron Electronics IPO opened for subscription on May 30 and closes on June 3. (Image: Company Website)Premium
Aimtron Electronics IPO opened for subscription on May 30 and closes on June 3. (Image: Company Website)

Aimtron Electronics IPO: The initial public offering (IPO) of Aimtron Electronics Ltd has been receiving strong response led by retail and non-institutional investors. Aimtron Electronics IPO is an SME IPO which opened on May 30, ends today, June 3.

The company is an electronics system design and manufacturing (ESDM) services provider.

Let us check Aimtron Electronics IPO GMP today, subscription status and other key details

Aimtron Electronics IPO GMP

Aimtron Electronics IPO GMP today, or grey market premium today, has risen to 75 per share, as per stock market observers. This indicates that Aimtron Electronics shares trading at 236 apiece in the grey market, a premium of 46.58% to the issue price of 161.

Also Read: Kronox Lab Sciences IPO: GMP, review, subscription status, other details. Appply or not?

Aimtron Electronics IPO Subscription Status

Aimtron Electronics IPO has been subscribed 14.82 times so far on June 3, the third and the last day of the bidding process. The public issue received bids for 5.31 crore equity shares as against 35.87 lakh shares on the offer, as per data available till 11:35 am.

The IPO has been subscribed 20.64 times in the retail category, 1.97 times in the Qualified Institutional Bidders (QIB) category, and 18.38 times in the Non-Institutional Investors (NII) category so far.

Also Read: Upcoming IPOs: Three new public issues and six new listings scheduled for this week; check full list here

Aimtron Electronics IPO Details

Aimtron Electronics IPO opened for subscription on May 30 and will close on June 3. The IPO allotment is likely to be finalized on June 4 and the IPO listing date is June 6. The equity shares of Aimtron Electronics will be listed at NSE SME.

Aimtron Electronics IPO price band is set at 153 to 161 per share. At the upper-end of the price band, Aimtron Electronics IPO size comes at 87.02 crore. The book-built issue is entirely a fresh issue of 54.05 lakh equity shares.

The IPO lot size is 800 shares and the minimum investment amount required by retail investors is 128,800.

Read here: India set to record bumper IPO deals as 2024 Lok Sabha election uncertainty ends

The company intends to utilize the net issue proceeds for repayment in whole or in part, of certain of the outstanding borrowings, funding capital expenditure towards the installation of additional plant and machinery, working capital requirements and general corporate purposes.

Hem Securities is the book running lead manager of the Aimtron Electronics IPO, while Link Intime India Private Ltd is the IPO registrar.

Mukesh Jeram Vasani, Nirmal M Vasani and Sharmilaben Lakhanbhai Bambhaniya are the promoters of the company. The promoter shareholding will come down to 71.29% after the IPO from the current 96.96%.

Also Read: 10 stocks listed in 2024 trade below their issue prices; will they suffer more? Here's what experts say

Aimtron Electronics has two manufacturing facilities in India. One in Vadodara, Gujarat, and the other in Bengaluru, Karnataka.

For the nine months ended December 31, 2023, of FY24, the company’s revenue stood at 67.64 crore and its net profit for the same period was at 9.76 crore.

In FY23, the company’s revenue jumped 169% to 72.39 crore from 26.89 crore in FY22. It reported a net profit of 8.63 crore in FY23 as against a net loss of 1.8 crore in the preceding fiscal year.

Read all IPO news here

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 making any investment decisions.

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Published: 30 May 2024, 01:54 PM IST
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