Retail investors subscribed 34.41 times the IPO value and a total of 2,25,46,46,940 shares were bidded for Rs 24,350 crore, compared to the issue size of 2,32,17,667.
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CHENNAI: Aeroflex Industries initial public offering (IPO) subscribed 97.11 times on Thursday, its last day. The Mumbai-based metallic hose and flow solution manufacturer has witnessed strong response in the market for its Rs 351 crore IPO. The qualified institutions buyers (QIBs) subscribed 194.73 times and non-institutional buyers bidded 126.13 times over their portion.
Retail investors subscribed 34.41 times the IPO value and a total of 2,25,46,46,940 shares were bidded for Rs 24,350 crore, compared to the issue size of 2,32,17,667. In total, 2,768,343 applications were registered.
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‘’ Aeroflex is likely to be listed on August 31st or 1st of September in BSE and NSE. It was traded at a premium of around 67% on its upper price band of Rs 108 in the grey market and expected to be listed around Rs 180 per share.
The IPO opened on Tuesday and closed on Thursday. The price band has been fixed at Rs 102 to Rs 108 per share and lot size is 130 shares and multiples thereof. IPO entails fresh issue of equity shares of Rs 162 crore and offer of sale upto 1.75 crore equities by promoter group and promoter shareholders.
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Aeroflex Industries, backed by investors such as Ashish Kacholia and Jagdish Master, has registered a revenue growth of 37% CAGR in the last three years. It exports products to over 80 countries.
