Aeroflex Industries IPO allotment today: Here's how to check your application status and GMP

Aeroflex Industries IPO allotment today: Here's how to check your application status and GMP

The Ashish Kacholia-backed company raised Rs 351 crore from its initial public offering as it offered its shares in the range of Rs 102-108 per share between August 22-24.

Pawan Kumar Nahar
Pawan Kumar Nahar
  • Updated Aug 29, 2023 9:39 AM IST
Aeroflex Industries IPO allotment today: Here's how to check your application status and GMPAeroflex exports make-in-India metallic flexible flow solutions to more than 85 countries, as exports account for more than 80 per cent of the company’s total revenues.
SUMMARY
  • Aeroflex Industries IPO to open between August 22-24.
  • The company sold its shares in the range of Rs 102-108.
  • Ashish Kacholia backed firm is looking to raise Rs 351 crore.

Aeroflex Industries is scheduled to finalize the basis of allotment of its shares today, that is, Tuesday, August 29. The initial public offering (IPO) of Ashish Kacholia-backed Aeroflex Industries had received a super strong response from the investors during the three-day bidding process. Aeroflex Industries raised a total of Rs 351 crore from its primary stake sale, which was open for bidding between August 22-24. The company had offered its shares in the fixed price band of Rs 102-108 apiece, and the investors could make bids for a minimum of 130 equity shares and its multiples thereof. The IPO of Aeroflex Industries was overall subscribed a stellar 97.11 times. The portion for qualified institutional bidders was booked a whopping 194.73 times, while the non-institutional investors' category was subscribed an astounding 126.13 times. Retail investors were nowhere behind in bidding as their quota was subscribed 34.41 times. Grey market premium (GMP) of Aeroflex Industries has remained strong following the stellar subscription numbers and positive reviews. The company is commanding a premium of Rs 70-75 per share over its issue price in the unofficial market, signaling a number listing for the company. Incorporated in 1993, Aeroflex Industries manufactures and supplies environment-friendly metallic flexible flow solution products. These solutions replace rubber and polymer pipes and tubes and its products have multi-purpose use and cater to numerous industry segments including fire-fighting, aviation, and space to name a few. In multiple pre-IPO rounds, marquee investors of Dalal Street including Ashish Kacholia, Jagdish Master, Vikas Khemani-led Carnelian Fund and others picked up around 7 per cent stake in Aeroflex Industries. Pantomath Capital Advisors was the sole manager to the issue. Majority of the brokerage firms were positive on the issue and have suggested investors to bid for it citing its unique business model, nearly monopoly status, global footprints, strong financials, decent margins and fair pricing. However, a high dependence on exports and select clients pose a threat to the company, they highlighted as the key risks. Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website: 1) Visit https://www.bseindia.com/investors/appli_check.aspx 2) Under the issue type, click Equity 3) Under the issue name, select Aeroflex Industries Limited in the dropbox 4) Write the application number 5) Add the PAN card ID 6) Click on 'I am not a Robot' and hit submit Investors can also check the allotment status on the online portal of Link Intime India Private Limited. (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue. The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries after the issue is completed. 1) Go to the web portal of Link Intime India Private Limited 2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized 3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID 4) In application type, select between ASBA and non-ASBA 5) Enter the details of the mode you selected in Step 2 6) For security purposes, fill the captcha accurately 7) Hit submit. Bidders who could not get allotment in the IPO may see the initialization of refunds on Wednesday, August 30. Others, who would be allotted shares may see the credit of shares, in the Demat accounts by Thursday, August 31, which is also the date for the listing of its equity shares.

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Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Aug 29, 2023 9:39 AM IST
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