Shares of Aimtron Electronics hit an upper circuit of 5% on Friday after ace investor Ashish Kacholia bought a 27.5 percent stake via a bulk deal on June 6. Kacholia purchased around 8 lakh shares at an average price of Rs 241 per share. Aimtron Electronics shares rose 5% to Rs 265.70 on Friday against the previous close of Rs 253.05. Market cap of the firm stood at Rs 542 crore.
The stock was listed on the NSE SME platform on Friday at a premium of 49.7%. It made its market debut at Rs 241 as against an issue price of Rs 161 apiece.
Ahead of the listing, the company's shares had a premium of Rs 30 in the unlisted market.
The IPO was a completely fresh equity sale of 54.04 lakh shares. The share sale saw a healthy response from investors with an overall subscription of 99 times at close.
The net proceeds from the public offer will be for repayment of debt, funding capital expenditure, working capital requirements and other general corporate purposes.
Hem Securities was the lead manager to the issue and Link InTime India was the registrar.
The company is engaged in the business of providing products and solutions towards electronics system design and manufacturing services with a focus on high-value precision engineering products.