Aeroflex Industries IPO: Ashish Kacholia-backed issue subscribed 11.46 times so far on day 2

23 Aug 2023 , 12:32 PM

Aeroflex Industries, with endorsement from prominent investors like Ashish Kacholia and Jagdish Master, is primarily aiming to use the IPO proceeds to eliminate its debt burden. The company has also allocated around Rs 84 crore for addressing its working capital needs, along with an additional fund pool of 35-40 crore that has been set aside for potential acquisitions. click here to apply the IPO.

The retail segment of the Aeroflex Industries IPO has garnered significant attention, witnessing a subscription rate of 11.78 times. The Non-Institutional Investors (NII) segment, on the other hand, has achieved an impressive subscription rate of 24.27 times. As for the Qualified Institutional Buyers (QIB) quota, it has been subscribed 1.22 times by 12:30 PM.

The book-built issue has been priced in the range of Rs 102-108 per share. Interested investors have the option to bid for a minimum of 130 equity shares, with subsequent bids in multiples of 130 shares. Consequently, retail investors are expected to invest a minimum of Rs 14,040 for one lot (130 shares multiplied by the issue price of Rs 108 per share), while the maximum investment for them would be Rs 1,96,560 (14 lots).