Aeroflex Industries IPO Subscribed 100 Times Before Closing GMP 67 Percent Above Issue Price

Aeroflex Industries IPO: The IPO of Aeroflex Industries Ltd has received tremendous response from investors. Today, on the last day of application, due to the investment of institutional, non-institutional and retail investors, the IPO has closed by being oversubscribed by about 100 times. Due to this response to the IPO, the share of Aeroflex Industries is trading at a premium of Rs 72 in the gray market. In this context, a share of Rs 102 can be listed on the stock exchange at Rs 180.

Investors invested heavily in IPO

62,76,490 shares were reserved for institutional investors in the IPO. But applications have come for 1,22,22,31,140 shares and this category has been subscribed a total of 195 times. 49,32,353 shares were reserved for non-institutional investors and a total of 62,21,36,970 shares were applied for and the category was subscribed 126.13 times.

For retail investors, 1,15,08,824 shares were reserved and applications were received for a total of 39,60,11,850 shares and this category was subscribed 34.41 times. 5,00,000 shares were reserved for the shareholder and investors have applied for 1,42,58,140 shares and this quota has been subscribed 28.52 times. That is, the IPO has been closed after being subscribed 97.11 times.

Aeroflex Industries, a company that manufactures stainless steel flexible hoses, has fixed a price band of Rs 102-108 for the IPO. The company has raised Rs 351 crore through IPO. The IPO was open for subscription on August 22 and August 24 was the last date for application. Shares have been issued through both fresh shares and offer for sale in IPO.

Listing on 1st September

Aeroflex Industries is currently trading at a premium of 67 per cent in the gray market. Presently GMP is Rs 72 i.e. in this context IPO can be listed on stock exchange at Rs 180. In the successful IPO of Aeroflas Industries, shares will be allotted to the investors by August 29. Investors will get money refund till 30th August. The shares will be credited to the demat account on August 31 and the shares will be listed on the stock exchange on September 1, 2023.

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