Aeroflex Industries shares listing today; Should you expect a strong listing pop?

Aeroflex Industries is likely to make a strong debut on stock market today, if one goes by grey market premium (GMP). The Ashish Kacholia-backed company likely to mark the resumption of strong listings after a muted show by TVS Supply Chain Solutions and Pyramid Technoplast.

Last heard, shares of Aeroflex were commanding a premium of Rs 70-75 per share in the grey market, signaling a premium of 70 per cent over its issue price of Rs 108 per share. This is against grey market premium of Rs 65 apiece in the unofficial market on Wednesday.

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 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.

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