Aztec Fluids & Machinery share price lists with strong 34.33% premium at ₹90 on the BSE SME

Aztec Fluids & Machinery IPO share price listed with strong 34.33% premium at ₹90 per share on the BSE SME on Friday. 

The investors expectations also had remained high for decent listing gains from the Aztec Fluids & Machinery IPO . The same was evident from the from subscription status and grey market premium.

The Aztec Fluids & Machinery IPO had been subscribed 218 times, while retail portion was subscribed 228.43 times by the end of closing day of IPO on 14, May 2024. The Aztec Fluids & machinery IPO had opened for subscription on Friday'10 May 2024. 

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As per investorgain.com, the grey market premium (GMP) for the Aztec Fluids & Machinery initial public offering (IPO) was ₹54. This indicates that shares were trading in the gray market for ₹121, which wa 80.60% more than the ₹67 issue price.

A "grey market premium" indicates that investors are willing to part with more money than the issue price.

According to the Red Herring Prospectus (RHP), Aztec Fluids & Machinery specializes in offering coding and marking solutions for a range of sectors. Among its varied clientele are industries including metals, automotive and electronics, food and beverage, pharmaceuticals, building materials, cables, wires, and pipes, as well as agrochemicals, chemicals, and petrochemicals.

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The company sells printers, printers that are thermal transfer over (TTO), laser, NIJ (piezoelectric), and continuous inkjet (CIJ) along with inks, consumables, makeup, and cleaning solvents. 

The book-built issue of Aztec Fluids & Machinery for ₹24.12 crores comprised entirely a fresh issue of 36 lakh shares with a price band  at ₹63 to ₹67 per share and lot size of 2000 shares.

Aztec Fluids & Machinery plans to utilise the proceeds from the initial public offer for financing for the planned purchase of Jet Inks Private Limited equity shares,  repayment of a portion of a loan taken by the company and also for  general corporate purposes.

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