Investors demonstrated a strong appetite for the Aeron Composite initial public offering (IPO), as the offer was fully subscribed within hours of its launch.
According to consolidated bid data on NSE, the NSE SME issue was subscribed 2.53 times at the conclusion of the first day’s bidding process. 71.88 lakh shares were applied for by the issue, out of the 28.36 lakh shares that were offered.
Consolidated bid data
In comparison to the 14.18 lakh shares reserved for the category, bids for 41.17 lakh shares were placed 2.9 times for the retail portion. In contrast to the 6.08 lakh shares reserved for the category, the non-institutional investors (NIIs) applied for 9.37 lakh shares, or 1.54 times their quota.
A total of 2.61 subscriptions were made by the Qualified Institutional Buyers (QIBs). 8.1 lakh shares were on offer; however, 21.2 lakh shares were bid for in this segment.
With 44.88 lakh shares totalling Rs 56.1 crore, the Aeron Composite IPO is a completely fresh offering. August 30 is the cutoff date for the IPO subscription.
IPO price band and lot size
The initial public offering (IPO) price range for Aeron Composite shares, which have a face value of Rs 10 each, is Rs 121 to Rs 125.
A single application must have a minimum lot size of 1,000 shares. This indicates that a retail investor must invest a minimum of Rs 1.25 lakh to bid on Aeron Composite IPO shares at the upper end of the price band. For High Networth Individuals (HNIs), two lots, or a Rs 2.5 lakh investment, are the minimum application size.
Hem Securities is the bookrunning lead manager, and Maashitla Securities Private Limited is the registrar for the initial public offering.
IPO subscription timeline
Aeron Composite Limited subscription is open from August 28 to August 30.
Aeron Composite IPO share allotment status is likely to be finalised on September 2. The refund for non-allottees will be initiated on September 3, and shares will be credited to the Demat accounts of allottees the same day.
Shares of Aeron Composite Limited will be listed on the NSE SME platform, Emerge. The IPO listing date has been tentatively fixed as September 4.
