Aeroflex Industries IPO: Ashish Kacholia-backed IPO mobilises ₹103 crore from anchor investors ahead of subscription
Aeroflex Industries IPO: Aeroflex Industries said in a statement on August 21 that it has raised ₹103.68 crore from anchor investors a day ahead of its IPO subscription opening for bidding. Aeroflex Industries initial public offering (IPO) will open for subscription on Tuesday, August 22 and close on Thursday, August 24.
The company has fixed the price band at ₹102 to ₹108 per equity share for the proposed initial public offer. The diversified anchor book of Aeroflex Industries comprises 10 anchors including mutual funds, large insurance and non-banking financial companies (NBFC) treasuries, alternative investment funds (AIFs) and foreign portfolio institution.
The institutions who participated in the anchor are the following: Mutual Funds: Nippon Mutual Fund, Invesco Mutual Fund, White Oak Mutual Fund, BOI Mutual Fund Institutional Treasuries: Winro Commercial India and Universal Sampo General Insurance AIFs: Quantun State Investment Fund and Negen Undiscovered Value Fund Foreign Institution: Societe Generale Out of the total anchor book, 55 per cent allocation was made to 4 domestic mutual funds through a total of 9 schemes amounting to ₹57 crore. Nippon Mutual Fund took single largest allocation, approximately 20 per cent of the total anchor book size, whereas other funds such as Invesco Mutual Fund, White Oak Mutual Fund, BOI Mutual Fund, Winro Commercial and Societe Generale followed the pack.
Earlier, marquee investors such as Ashish Kacholia, Jagdish Master and Vikas Khemani led Carnelian Fund and certain other investors bought approximately 7 per cent stake in Aeroflex Industries pre-IPO. Aeroflex Industries IPO comprises of fresh issue of equity shares up to the value of ₹162 crore and an offer-for-sale (OFS) of
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