Aeroflex Industries will list on August 31
Aeroflex Industries Limited initial public offering (IPO) had received substantial attention from investors during its bidding process, with the IPO being subscribed 97.07 times. From retail to qualified institution investors, the manufacturing firm received bids from all types of investors during the process which was held between 22nd and 24th August. The finalisation of share allotment is expected to be done today.
The Rs 351-crore IPO is set to be listed on the bourses on August 31. Ahead of the listing, investors who have subscribed to the offering can check their allotment status today. According to reports, the grey market premium (GMP) for Aeroflex on Tuesday was Rs 72. The price band of the IPO was set as Rs 102-108. The GMP of Rs 72 suggests that the IPO can list around Rs 180 on August 31.
To check the allotment status today, investors can go to the BSE India website and know the status under the application status check section. The registrar to the offer is Link Intime India Private limited and the status of application can also be checked from its website.
Aeroflex IPO details
According to the information provided by the company, the promoters hold 91.1 per cent stake before its listing. After the stock is listed on the bourses, promoters’ shareholding will come down to 66.9 per cent. In this issue, the 1,50,00,000 shares amounting to Rs 162 crore are fresh issue while 1,75,00,000 shares worth 189 crore are offer for sale. The minimum lot size was set as 130 shares in the IPO.