On Tuesday, August 29, Aeroflex Industries is expected to announce the allocation of its shares. During its three-day bidding period, investors showed a lot of interest in Ashish Kacholia's Aeroflex Industries IPO.
The company's initial public offering (IPO) was up for subscription from August 22 to 24 and raised Rs 351 crore in its primary equity sale. There was a minimum bid requirement of 130 equity shares and multiples thereof, with shares being offered between Rs 102 and Rs 108 a share.
On the website of the Bombay Stock Exchange (BSE) or the online portal of Link Intime India Private Limited, the issue's registrar, investors who took part in the IPO can check the status of their allotments.
On Thursday, August 31, which is also the day the equity shares list on the stock exchange, allotted shares may be credited to Demat accounts. Refunds for unsuccessful bids are anticipated to begin on Wednesday, August 30.
Aeroflex Industries' initial public offering (IPO) saw a remarkable oversubscription of 97.11 times. Qualified institutional bidders made an impressive 194.73 times of subscriptions, while non-institutional investors showed strong interest by making 126.13 times of subscriptions. Retail investors enthusiastically engaged as well, and their share was 34.41 times oversubscribed.
A substantial grey market premium (GMP) has been maintained by Aeroflex Industries in the wake of impressive subscription numbers and favorable evaluations. The business is trading in the unofficial market at a premium of Rs 70–75 a share over its issue price, pointing to a likely listing.
Aeroflex Industries was founded in 1993 and specializes in producing metallic flexible flow solution products that are environmentally beneficial. These solutions serve a variety of industries, including firefighting, aviation, and space, and they replace rubber and polymer pipes.
Through pre-IPO rounds, notable investors including Vikas Khemani's Carnelian Fund, Jagdish Master, and Ashish Kacholia each acquired about 7% of Aeroflex Industries. The problem was handled by Pantomath Capital Advisors.
The majority of brokerage firms supported the initial public offering, praising its distinctive business strategy, practically monopoly position, global presence, excellent financials, respectable margins, and competitive pricing. However, questions were raised over the firm's strong reliance on exports and a small number of customers.
