Aeroflex Industries IPO allotment today; here's all you need to know

Aeroflex Industries IPO: Aeroflex Industries is set to finalise the share allocation basis today, August 29. The initial public offering (IPO) of Aeroflex Industries, backed by Ashish Kacholia, garnered a highly enthusiastic response from investors over the three-day bidding period.

IPO details 

Aeroflex Industries successfully raised Rs 351 crore through its primary stake sale, which was open for bids from August 22 to August 24. The company offered shares within the price range of Rs 102 to Rs 108 each, with investors able to bid for a minimum of 130 equity shares and multiples thereof.

The IPO of Aeroflex Industries saw an impressive overall subscription rate of 97.11 times. Qualified institutional bidders oversubscribed their portion by a staggering 194.73 times, while non-institutional investors' participation exceeded expectations at 126.13 times. Retail investors also showed significant interest, subscribing to their quota 34.41 times.

Aeroflex Industries' strong performance in terms of subscription has been reflected in its grey market premium (GMP). Trading at a premium of Rs 70-75 per share over its issue price in the unofficial market, the company appears poised for a strong listing.

About the company

Aeroflex Industries, founded in 1993, specialises in manufacturing and supplying environmentally friendly metallic flexible flow solution products. These products, which serve various industry segments such as firefighting, aviation, and space, offer versatile applications and replace traditional rubber and polymer pipes and tubes.