Aeroflex Industries IPO Lists At 83% Premium Incorporated in 1993, Aeroflex Industries manufactures and supplies environment-friendly metallic flexible flow solution products
By Teena Jose
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Mumbai-based Aeroflex Industries made a strong listing debut today on BSE at a premium of 82.78% at INR 197.40. Pantomath Capital is the sole Book Running Lead Manager in Aeroflex Industries IPO. Together with Pre-IPO of INR 76 crore, Aeroflex and its Promoter, Sat Industries Ltd, raised a total of INR 427 crore.
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% stake in Aeroflex Industries. Pantomath Capital is the co-lead book running lead manager along with Choice Capital to this IPO.
"We are excited having received an overwhelming response from investors. We have garnered gross subscription (before rejection) of more than INR 43,000 crores in both the IPOs of Aeroflex and VPRP. This level of participation demonstrates the market depth and also the favor primary issuances get from investors. Notably, the subscription was fueled by institutional demand, which is even more encouraging," said Mahavir Lunawat, managing director, Pantomath Capital Advisors Private Limited, lead manager of both the IPOs.
Incorporated in 1993, Aeroflex Industries manufactures and supplies environment-friendly metallic flexible flow solution products.
According to an official release, Aeroflex Industries Ltd and VPRP Ltd together had garnered INR 43,650 crore of gross subscriptions. Aeroflex IPO was subscribed 97.11 times in which QIB portion was subscribed 194.73 times. On the other hand, VPRP Ltd IPO was subscribed 87.82 times in which QIB portion was subscribed 171.69 times.
Both the IPO subscriptions were led by heavy institutional demand. Mutual funds, insurance treasuries and AIFs participated in anchor books of both the IPOs, it stated.
