Aeroflex IPO Allotment Tomorrow: How To Check Status, Check GMP Today

Aeroflex IPO: The initial public offering (IPO) of stainless steel flexible hose manufacturer Aeroflex Industries Ltd has concluded with an overwhelming response, with 97.07 times subscription. It received bids for 2,25,37,18,090 shares against 2,32,17,667 shares on offer. For the Rs 351-crore IPO, the allotment of shares will take place on Tuesday, August 29.

Aeroflex IPO Share Allotment: How To Check Status

How to Check Aeroflex Industries IPO Allotment Status via BSE Website:

1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.

2) Under ‘Issue Type’, select ‘Equity’.

3) Under ‘Issue Name’, select ‘Aeroflex Industries Limited’ in the dropbox.

4) Enter your application number, or the Permanent Account Number (PAN).

5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.

Your share application status will appear on your screen.

Aeroflex IPO GMP Today

Aeroflex Industries is currently trading at Rs 178 in the grey market, according to market observers. It indicates a premium of Rs 70 or 64.8 per cent over its upper issue price of Rs 108 per share.

Going by the latest GMP today, Aeroflex Industries is expected to be listed on stock exchanges with a 64.8 per cent gain. The Aeroflex IPO will be listed on both BSE and NSE on August 31.

Grey market premium or GMP indicates investors’ readiness to pay more than the issue price.

About Aeroflex IPO

The category for qualified institutional buyers (QIBs) received a whopping 194.73 times subscription while the quota for non-institutional investors got subscribed 126.10 times and retail individual investors (RIIs) 34.35 times.

The IPO had a fresh issue of up to Rs 162 crore and an offer for sale of up to 1.75 crore equity shares. The price range for the offer was Rs 102-108 a share.

The company has said it collected close to Rs 104 crore from anchor investors.

The proceeds from the fresh issue will be utilised for repaying a debt, and funding working capital requirements, while a certain amount will be used for general corporate purposes and acquisitions for inorganic growth, according to the company.

The company’s equity shares are proposed to be listed on the BSE and the NSE.

Pantomath Capital was the manager to the offer.