Aeroflex Industries IPO Day 1: Ashish Kacholia-backed issue subscribed 2.88 times so far; retail portion booked 3.37x
IPO Subscription Status: The initial public offering (IPO) of Ashish Kacholia-backed company Aeroflex Industries Ltd opened for public subscription today, August 22. The public issue, which will remain open for bidding till August 24, has received stellar response from investors as the issue got fully subscribed within hours of opening. Aeroflex Industries IPO has been subscribed 2.88 times so far on day 1 as the issue received bids for 6.69 crore equity share as compared to 3.25 crore shares on the offer, till 1:00 pm.
The retail portion has been subscribed 3.37 times, while the Non-Institutional Investors (NII) portion has received 4.29 times subscription. The Qualified Institutional Buyers’ (QIB) quota has been booked 1.04 times so far, as per data available on the exchanges. Also Read: Ashish Kacholia-backed Aeroflex Industries IPO over subscribed within an hour of opening. GMP, apply or not? Aeroflex Industries is a subsidiary of Sat Industries Ltd, a listed entity on Dalal Street.
Ace investors Ashish Kacholia and Jagdish Master have picked up stake in Aeroflex Industries. Aeroflex Industries IPO price band has been fixed at ₹102 to ₹108 per equity share and the company aims to raise ₹351 crore from the public offer. The issue has opened today and it will remain open till 24th August 2023.
Aeroflex Industries IPO comprises a fresh issuance of shares worth ₹162 crore, and an offer-for-sale (OFS) of 1.75 crore shares by promoter entity Sat Industries. The company has already raised ₹76.14 crore in a pre-IPO placement by selling 86.9 lakh equity shares to institutional investors. Also Read: Jupiter Life Line Hospitals mops up ₹123 crore in pre-IPO placement Aeroflex Industries IPO GMP today, or grey market premium
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