Aeroflex Industries IPO subscribed a whopping 97 times by final day

Aeroflex Industries IPO: Shares of Aeroflex Industries were in very high demand, from all categories of investors, during the three-day share sale via initial public offering (IPO) which ended on August 24, Thursday. The IPO was subscribed 97.11 times by last day of the issue. Aeroflex Industries received as many as 225 crore bids for 2.32 crore shares on offer, data from the National Stock Exchange showed.

Aeroflex Industries Subscription Details

Qualified institutional buyers (QIBs), which include large investors like banks, mutual funds and FIIs, were seen bidding for shares in large numbers as pie set aside for them was booked 195 times. They had placed bids for 122 crore shares as against 62.76 lakh shares reserved for them.

Shares set aside for non-institutional investors (NIIs) was booked 126.13 times and pie set aside for retail individual investors was subscribed 34 times.

Aeroflex Industries raised Rs 351 crore from the IPO which comprised of fresh issue of Rs 162 crore and an offer for sale worth Rs 189 crore. The company sold shares in price band of Rs 102-108 per share and retail investors were allowed to bid for minimum one lot of 130 shares up to maximum of 14 lots. One lot of Aeroflex Industries shares in the IPO was priced at Rs 14,040 at the upper end of the price band.

The company had reserved 35 per cent of shares in IPO for retail investors, 19 per cent for QIBs, 29 per cent for anchor investors and 15 per cent for NIIs.

About Aeroflex Industries

Founded in 1993, Aeroflex Industries Limited, previously known as Suyog Intermediates Private Limited, is a manufacturer and supplier specialising in environmentally friendly metallic flexible flow solution products.

The company's product range includes various types of hoses, such as braided hoses, unbraided hoses, solar hoses, gas hoses, vacuum hoses, and interlock hoses, along with hose assemblies like lancing hose assemblies, jacketed hose assemblies, and more. They also offer products like exhaust connectors, exhaust gas recirculation (EGR) tubes, expansion bellows, compensators, and associated end fittings. The company boasts an extensive product portfolio featuring over 1,700 distinct product stock-keeping units (SKUs) as of March 31, 2023.