Ashish Kacholia-backed Aeroflex IPO Gets Response Worth Over Rs 24,500 Crore; Allotment Status Out, Latest GMP

Aeroflex Industries IPO: Ace investor Ashish Kacolia-Backed IPO received responses worth more than Rs 24,500 crore as the public offer oversubscribed by 97.11 times. Also, data from exchanges showed that Aeroflex witnessed the highest number of retail applications so far in 2023. The allotment of equity shares of Aeroflex is out, and investors can check their application status on various portals digitally. Aeroflex is set to be listed later in the week.

Major market investors like Kacholia and Jagdish Master have picked up stakes in Aeroflex ahead of the IPO. Further, Aeroflex is a subsidiary of an already listed firm, SAT Industries.

As per the data, Aeroflex received bids of 2,25,46,38,100 equity shares aggregating to a maximum of Rs 24,350 crore at the upper price band --- against the offer size of 2,32,17,667 equity shares. In value terms, the IPO's size was Rs 351 crore. In the pre-IPO market, the stock raised Rs 76 crore, while its anchor book garnered Rs 103.68 crore from marquee investors.

Also, promoter SAT Industries cumulatively raised Rs 427 crore through pre-IPO and IPO of Aeroflex.

Further, the IPO received over 27 lakh applications, the highest number recorded by any public offer in the current year.

Aeroflex IPO received robust demand from investors. The portion for QIBs oversubscribed by 194.73 times, while the non-institutional investors (NII) category subscribed by 126.13 times. The portion reserved for retail individual investors (RII) subscribed 28.52 times.

Aeroflex plans to utilise the proceeds of the fresh issue for repayment of certain outstanding secured borrowing, funding of working capital, and general corporate purposes.

Pantomath Capital Advisors is the book-running lead manager of the IPO, while Link Intime India is the registrar.

After the IPO, the basis of allotment of equity shares was carried out on August 29, while refunds are expected to be initiated on August 30. Further, the equity shares will likely be credited to investors' demat accounts by August 31.

Accordingly, the listing is likely on September 1, 2023.

How to check allotment status and what the latest GMP suggests for listing:

Allotment Status:

Link Intime Allotment Page:

Step 1: Visit Link Intime IPO Allotment Page (https://linkintime.co.in/MIPO/Ipoallotment.html)

Step 2: Select the option of personal identification to proceed further to select the IPO name. These can be a Permanent Account Number (PAN) card, Aadhaar card, or DP ID options:

Step 3: After doing so, click on the drop-down menu bar to select the IPO name. Select 'Aeroflex Industries'.

Step 4: Feed the details of PAN, Aadhaar, or DP ID as per your selection.

Step 5: Click on the 'Search' button lastly to proceed to check your allotment status on the screen.

BSE:

Step 1: Under the investors' section of the BSE website, click on 'Status of Issue Application'. Here is the link: https://www.bseindia.com/investors/appli_check.aspx

Step 2: Select the issue type either Equity or Debt

Step 3: Select the IPO name 'Aeroflex Industries' from the drop-down menu on the Issue Name.

Step 4: Feed in the details of either Application No. or PAN card.

Step 5: Select the captcha mode and then click on 'Search'. You get to know your allotment status accordingly.

NSE:

- Exchange will also provide Allotment information as provided by the registrar to the issue. Click here to log in (https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids)

- To avail of this facility, the investor has to register one time by providing the PAN details.

- The user shall be able to view the details of the bids entered against the registered PAN number - On registration, the investor will receive an email notification from NSE on the registered email address providing the login details.

Other methods to check allotment status are demat accounts and bank accounts.

Latest GMP:

The grey market premium of Aeroflex is at Rs 65 on Wednesday, hinting at a premium listing of 60.2% to Rs 173 per share (Rs 108 + Rs 65), as per the Topsharebrokers.

The stock is expected to list on August 31.

The IPO opened on August 22 and closed on August 24 at a price band of Rs 102 to Rs 108 per equity share. The bid lot size was 130 Equity Shares and in multiples thereof.

Aeroflex manufacturers and supplies environment-friendly metallic flexible flow solution products including braided hoses, unbraided hoses, solar hoses, gas hoses, vacuum hoses, braiding, interlock hoses, hose assemblies, lancing hose assemblies, jacketed hose assemblies, exhaust connectors, exhaust gas recirculation (EGR) tubes, expansion bellows, compensators and related end fittings collectively known as flexible flow solutions catering to global as well as domestic markets.