Aeroflex IPO GMP Today: The initial public offering (IPO) of Aeroflex Industries is going to make its debut on the stock exchanges, NSE and BSE, on Thursday, August 31. The latest GMP of the Rs 351-crore IPO, which took place last week and ended with an overwhelming response with 97.07 times subscription, signals about 60 per cent gains on the listing day tomorrow.
Aeroflex IPO received more than 27 lakh applications, which is the highest number of applications received across IPOs in 2023, the company said in a statement.
It said Aeroflex Industries and its corporate promoter, Sat Industries Ltd, together raised Rs 427 crore (about $52 million) through pre-IPO and IPO of Aeroflex. About Rs 76 crore were raised in pre-IPO round and Rs 351 crore were raised through IPO.
Aeroflex IPO GMP
According to market observers, Aeroflex Industries is currently trading Rs 65 higher in the grey market. The Rs 65 grey market premium or GMP is about 60 per cent higher than its upper issue price of Rs 108 per share. This means the grey market is expecting 60 per cent listing gain from the public issue.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Aeroflex IPO: Quota-Wise Subscription
Aeroflex IPO received an overwhelming response in all categories. The qualified institutional buyers (QIBs) category received a whopping 190.47 times subscriptions, while the non-institutional investors category got subscribed 129.06 times. Retail individual investors (RIIs) got 34.55 times subscription and the holding company shareholder category got subscribed by 12.41 times.
Aeroflex IPO Share Allotment: How To Check Status
How to Check Aeroflex Industries IPO Allotment Status via BSE website:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Aeroflex Industries Limited’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
Details About Aeroflex IPO
Aeroflex launched its IPO of Rs 351 crore (at upper price band) on August 22, 2023, which closed on Thursday, August 24, 2023.
The price band for the IPO was determined at Rs 102-Rs 108 per equity share. The offer was made through the book-building process, wherein 1.54 per cent of the total issue size was reserved with the holding company’s eligible shareholders.
Out of the total, 50 per cent of the offer was available for allocation to qualified institutional buyers, 15 per cent of the offer for non-institutional investors and 35 per cent for retail individual investors. The finalisation of allotment took place on August 29, 2023, while refunds will be initiated on August 30, 2023.
The shares will be credited to the demat accounts of eligible investors on August 30, 2023. The company’s share listing is expected to take place on August 31, 2023, on BSE and NSE.
About Aeroflex Industries Ltd
Aeroflex is a manufacturer of environment-friendly metallic flexible flow solution products, catering to global markets. The company exports products to more than 80 countries in Europe and North America, among others.
According to a company statement, its exports contributed more than 80 per cent of its revenue from operations. Aeroflex products are supplied to a wide spectrum of industries for the controlled flow of all forms of substances including air, liquid, and solid.
Aeroflex has grown at more than 37 per cent revenue CAGR in the last three years, operating at more than 4.85 times asset turnover, clocking more than 20 per cent EBITA margins and generating about 32 per cent ROCE (return on capital employed).