GMP will open next week and will reach the sky from now, know details of Aeroflex IPO.

These days IPO has come in the market. TVS Supply Chain’s IPO has just closed. Several IPOs are lined up in the coming days. Aeroflex Industries Limited’s IPO is coming up next week with its GMP skyrocketing.

This is the price band and total size.

Aeroflex Industries Ltd, a company that manufactures stainless steel flexible hoses, disclosed details of its IPO on Wednesday. The company has set a price band of Rs 102-108 for its first issue. The size of this initial public offering of Aerofax Industries is going to be Rs 351 crore.

IPO opening and closing

The company said its IPO will open for subscription on August 22 and bids for it can be made till August 24. The IPO will open for anchor investors only on August 21. This IPO of Aeroflex Industries Limited includes both fresh shares and offer for sale. There will be a fresh issue of shares worth Rs 162 crore, while promoter SAT Industries will sell 1.75 crore shares.

Lot size and market response

One lot of this IPO will consist of 130 shares. This means that a retail investor would need at least Rs 14,040 to bid in Aeroflex Industries Limited’s IPO. On the other hand, if we talk about its response, its premium has already reached Rs 55 i.e. almost 51% in the gray market. This shows that this IPO can get a great response in the market.

The proceeds from the IPO will be spent here.

At present, the promoter and members of the promoter group hold more than 91 per cent stake in Aeroflex Industries Limited. The proceeds from the IPO will be used for debt repayment, meeting working capital requirements, general corporate operations and inorganic growth deals, the company said.

(Disclaimer: The information provided here is for information only. It is important to mention here that investing in the market is subject to market risks. As an investor always consult an expert before investing. It is not advised to invest money here.)

Also Read: Have Multiple Demat Accounts? Learn how to transfer shares to each other.

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