Ashish Kacholia-backed Aeroflex Lists At 83% Premium From IPO's Price; How Stock Has Performed On Its D-Day!

Ashish Kacholia-backed Aeroflex Industries made an impressive listing of up to 83% premium on Thursday, after launching one of the best IPOs of the current year. Aeroflex has continued to trade higher against its IPO price, however, investors are also cashing in their gains. The IPO received responses worth more than Rs 24,500 crore as the public offer oversubscribed by 97.11 times.

On BSE, the stock is listed at an 83% premium of Rs 197.40 apiece compared to IPO's issue price of Rs 108 apiece. This would also be its new 52-week high. Aeroflex shares are listed and traded under the 'B' group of securities on the exchange.

Meanwhile, on NSE, the stock debuted at nearly 76% premium to Rs 190 apiece against the IPO price. Here, the stock climbed to hit a 52-week high of Rs 196.35 apiece.

However, amidst market volatility, Aeroflex's share price has also seen a significant correction, but they're performing higher than the IPO price.

At the time of writing, Aeroflex traded at Rs 164 apiece, surging by Rs 56 or 51.85% from the IPO price. But, the stock dipped by Rs 33.40 or 16.92% from its listing price on BSE.

On NSE, the stock traded at Rs 168.15 apiece, up by 55.7% from its IPO price but lower by 11.50% from its listing price.

Hence, the stock price is currently trading near its 52-week low of Rs 162.90 apiece on the BSE and Rs 165.25 on the NSE.

The company launched its IPO from August 22 to August 24 at a price band of Rs 102 to Rs 108 per equity share.

On the final day of its IPO, 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.

Among its strategies ahead, Aeroflex plans to expand its portfolio of solutions to capitalize on large opportunities across industrial segments. Further, it is looking to scale up in-house design and R&D efforts. Also, the company plans to expand its operations in geographies such as the USA, Europe, Far East Region and Middle East and North Africa (MENA) region by opening up of own strategic delivery locations in these regions, expanding its share of supplied products, as well as by diversifying its portfolio.