Aeroflex Industries shares make a stellar debut; stock lists at a premium of 83% at Rs 197.40
The Ashish Kacholia-backed company raised Rs 351 crore from its initial public offering, as it sold its shares in the Rs 102-108 price band from August 22 to August 24.
- Aug 31, 2023,
- Updated Aug 31, 2023 10:06 AM IST
Shares of Aeroflex Industries made a strong debut at Dalal Street on Monday as the stock got listed at Rs 197.40, a premium of 83 per cent over its issue price of Rs 108, on BSE. Similarly, the counter kicked-off its maiden trading session at a premium of 76 per cent at Rs 190 on National Stock Exchange (NSE). The debut of Aeroflex has been on the expected line as the grey market premium was signaling a strong listing pop for the investors. Ahead of its listing, Aeroflex Industries was commanding a premium of Rs 70-75 per share in the grey market. The listing saw more attractive muted performances on TVS Supply Chain Solutions and Pyramid Technoplast on their debut. The Rs 351-crore initial public offering (IPO) of Sat Industries promoted-Aeroflex Industries ran from August 22 to August 24, as the company offered its shares in the price band of Rs 102-108 apiece. Investors could make bids for a minimum of 130 equity shares and its multiples thereof. The IPO of Aeroflex Industries was subscribed a stellar 97.11 times. The portion reserved for qualified institutional bidders was booked 194.73 times while that of the non-institutional category was subscribed 126.13 times. The quota reserved for retail investors was subscribed 34.41 times. In multiple pre-IPO rounds, marquee investors of Dalal Street including Ashish Kacholia, Jagdish Master, Vikas Khemani-led Carnelian Fund and others picked up around 7 per cent stake in Aeroflex Industries. Pantomath Capital Advisors was the sole manager of the issue. Incorporated in 1993, Aeroflex Industries manufactures and supplies environment-friendly metallic flexible flow solution products. These solutions replace rubber and polymer pipes and tubes and its products have multi-purpose use and cater to numerous industry segments including fire-fighting, aviation, and space to name a few.
Shares of Aeroflex Industries made a strong debut at Dalal Street on Monday as the stock got listed at Rs 197.40, a premium of 83 per cent over its issue price of Rs 108, on BSE. Similarly, the counter kicked-off its maiden trading session at a premium of 76 per cent at Rs 190 on National Stock Exchange (NSE). The debut of Aeroflex has been on the expected line as the grey market premium was signaling a strong listing pop for the investors. Ahead of its listing, Aeroflex Industries was commanding a premium of Rs 70-75 per share in the grey market. The listing saw more attractive muted performances on TVS Supply Chain Solutions and Pyramid Technoplast on their debut. The Rs 351-crore initial public offering (IPO) of Sat Industries promoted-Aeroflex Industries ran from August 22 to August 24, as the company offered its shares in the price band of Rs 102-108 apiece. Investors could make bids for a minimum of 130 equity shares and its multiples thereof. The IPO of Aeroflex Industries was subscribed a stellar 97.11 times. The portion reserved for qualified institutional bidders was booked 194.73 times while that of the non-institutional category was subscribed 126.13 times. The quota reserved for retail investors was subscribed 34.41 times. In multiple pre-IPO rounds, marquee investors of Dalal Street including Ashish Kacholia, Jagdish Master, Vikas Khemani-led Carnelian Fund and others picked up around 7 per cent stake in Aeroflex Industries. Pantomath Capital Advisors was the sole manager of the issue. Incorporated in 1993, Aeroflex Industries manufactures and supplies environment-friendly metallic flexible flow solution products. These solutions replace rubber and polymer pipes and tubes and its products have multi-purpose use and cater to numerous industry segments including fire-fighting, aviation, and space to name a few.