Unlisted shares of Aesthetik Engineers Ltd are trading Rs 25 higher in the grey market, signalling a 43.1 per cent listing gain from the public issue.
Aesthetik Engineers IPO: The initial public offering (IPO) of Aesthetik Engineers Ltd, which was opened for public subscription on Thursday, is witnessing the second day of bidding. Till 10:53 am on the second day of bidding on Monday, the 26.47-crore IPO received a 32.09 per cent subscription, garnering bids for 9,74,36,000 shares as against 30,36,000 shares on offer.
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According to the latest data, the retail quota received a 49.81 times subscription, while the non-institutional investors category also got a 27.49 times subscription. The QIB category got 4.5 times subscription.
On the first day of bidding, the Aesthetik Engineers IPO received a whopping 26.43 times subscription.
The IPO will be closed on August 12, Monday. Its price band has been fixed at Rs 55-Rs 58 apiece. The share allotment will likely be finalised on August 13, while its listing will take place on the NSE SME on August 16.
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Aesthetik Engineers IPO GMP Today
According to market observers, unlisted shares of Aesthetik Engineers Ltd are trading Rs 25 higher in the grey market than its issue price. The Rs 25 grey market premium or GMP means the grey market is expecting a 43.1 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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Aesthetik Engineers IPO: More Details
Aesthetik Engineers Limited, which was founded in 2003, provides interior design services and is involved in the design, manufacture, and installation of facade systems.
The Rs 26.47-crore Aesthetik Engineers IPO comprises a fresh issue of 45.64 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)].
Narnolia Financial Services Ltd is the book running lead manager of the Aesthetik Engineers IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Aesthetik Engineers IPO is Nikunj Stock Brokers.
Aesthetik Engineers Ltd’s revenue jumped 50.64 per cent and its profit after tax (PAT) rose 346.76 per cent in the financial year 2023-24.
