Aeroflex Industries IPO: Investors Enjoying Impressive Returns in Stock Market
One IPO is being launched one after the other in the stock market, and investors are reaping amazing returns. The recent IPO of Aeroflex Industries, backed by stock market veteran Ashish Kacholia, was listed on Thursday. Shares of Aeroflex Industries Limited were listed at Rs 197.40 per share, showing an 83 percent premium gain on the BSE index. However, on Friday, September 1, 2023, the shares are trading at Rs 161.90, down 0.83 percent.
Aeroflex Industries announced a share price band of Rs 108 per share in its IPO, but the listing price was 76 percent higher than the issue price. The IPO was launched from August 22 to August 24, 2023, and received overwhelming response from investors. It was oversubscribed 97.11 times, with a total size of Rs 351 crore. Qualified institutional investors subscribed 194.73 times more than the reserved quota, while non-institutional investors subscribed 126.13 times more. Retail investors oversubscribed the IPO by 34.41 times.
Before the IPO opening, Aeroflex Industries raised capital of Rs 103.68 crore from anchor investors. The company has 10 anchor investors, including mutual funds, insurance and NBFC treasury alternative investment funds, and foreign portfolio companies.
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