Aeroflex Industries IPO: Investors queue up to bid in this IPO, 100% subscribed as soon as it opens
Aeroflex IPO subscription status: Aeroflex's IPO seems to be getting a good response from investors. According to BSE data, till 1135 am, against the 2.32 crore shares offered in the IPO, bids had been received for 2.33 shares. The IPO will be open to the public till August 24. Its price band has been fixed from Rs 102 to Rs 108.
The IPO of Aeroflex Industries, which opened in the stock market on Tuesday, seems to be getting a good response from investors. The IPO has been subscribed up to 101 percent within 1.5 hours of opening.
According to BSE data, till 11:35 am, bids had been received for 2.33 shares against the 2.32 crore shares offered in the IPO. The portion earmarked for non-institutional investors has been subscribed 1.57 times. At the same time, the quota kept for retail investors has received 1.34 times the subscription.
QIB has reserved more than 50 percent shares in the IPO. 15% is reserved for NII and 35% for retail investors.
Public investors can bid for the Aeroflex IPO from August 22 to August 24, 2023. Its price band has been fixed from Rs 102 to Rs 108.
One lot of this IPO will be 4,550 shares. Any investors must apply for at least one lot in order to bid. An investor can apply for a maximum of 35 lots.
Its issue size is Rs 351 crore. The IPO consists of a fresh issue of Rs 162 crore and an OFS of 1.75 crore shares. It was told by the company that the fresh issue will be used to repay the debt and meet the working capital requirements.
Aeroflex's Metallic is engaged in the manufacture of flexible flow solution products. The company has a good hold in the domestic market. The company has holdings in IOCL, BPCL, and ONGC and big companies like Tata Steel, HAL.
