Unlisted shares of Aprameya Engineering Ltd are trading Rs 15 higher in the grey market, signalling a 25.86 per cent listing gain from the public issue.
Aprameya Engineering IPO: The initial public offering (IPO) of Aprameya Engineering Limited, which was opened for public subscription on Thursday, has so far received a subdued response from investors. Till 11:46 am on the second day of bidding on Friday, July 26, the 29.23-crore SME IPO received 4.20 times subscription, garnering bids for 1,40,64,000 shares as against 33,52,000 shares on offer.
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According to the latest data, the retail quota received a 3.18 times subscription, while the non-institutional investors category got a 2.17 times subscription. The qualified institutional buyers (QIB) category received a 7.49 times subscription.
The Trom Industries IPO will be closed on Monday, July 29. The share allotment will likely be finalised on July 30, while its listing will take place on the NSE SME on August 1.
Aprameya Engineering Limited installs and maintains Intensive Care Units (ICU), Neonatal Intensive Care Units (NICU), Pediatric Intensive Care Units (PICU), Operation Theatres, and prefabricated structure wards in hospitals and medical care centres. It was founded in 2003.
The price band of the IPO has been fixed at Rs 56-Rs 58 apiece.
Aprameya Engineering IPO GMP Today
According to market observers, unlisted shares of Aprameya Engineering Ltd are trading Rs 15 higher in the grey market as compared with its issue price. The Rs 15 grey market premium or GMP means the grey market is expecting a 25.86 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Aprameya Engineering IPO: More Details
Aprameya Engineering IPO is entirely a fresh issue of 50.4 lakh shares.
Investors need to apply for a minimum of 2,000 equity shares and in multiples thereof. Hence, the minimum investment by retail investors would be Rs 1,16,000 [2,000 (lot size) x Rs 58 (upper price band)].
The IPO proceeds will be utilised towards: 1) meeting incremental working capital requirements (including augmentation on Long Term Working Capital); and 2) general corporate purposes.
Aprameya Engineering’s revenue fell 16.23 per cent and its net profit dropped 35.62 per cent during the financial year 2023-24.
Hem Securities Limited is the book running lead manager of the Aprameya Engineering IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Aprameya Engineering IPO is Hem Finlease.
