Aeroflex Industries IPO
Aeroflex Industries Limited (AEROFLEX) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 31 August 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +64.1% (likely range +15% to +90%), day's high +64.1%, chance of a gain 97%. Actual: +75.9% at the open, +81.8% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 62,76,490 | 1,22,22,31,140 | 195x | |
| NII (HNI) total | 49,32,353 | 62,21,36,970 | 126x | |
| Big NII (above ₹10 lakh) | 32,88,236 | 41,36,63,510 | 126x | |
| Small NII (₹2-10 lakh) | 16,44,117 | 20,84,73,460 | 127x | |
| Retail | 1,15,08,824 | 39,60,11,850 | 34.4x | |
| Shareholders | 5,00,000 | 1,42,58,140 | 28.5x | |
| Total | 2,32,17,667 | 2,25,46,38,100 | 97.1x |
Bids on NSE and BSE together, as published by NSE, as of 24 Aug 2023, 07:00 PM. Shares offered exclude the anchor portion. 15% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Aeroflex Industries's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Netweb Technologies IndiaJul 2023 | 229x | 81.8x | 19.2x | 90.4x | ₹625 Cr | +89.4% | +90.4% |
| Laxmi Organic IndustriesMar 2021 | 175x | 218x | 20.1x | 107x | ₹605 Cr | +19.6% | +34.3% |
| Data Patterns (India)Dec 2021 | 191x | 254x | 23.1x | 120x | ₹587 Cr | +46.3% | +47.7% |
| Utkarsh Small Finance BankJul 2023 | 125x | 81.6x | 72.1x | 102x | ₹543 Cr | +60.0% | +92.0% |
| Harsha Engineers InternationalSep 2022 | 178x | 71.3x | 17.6x | 74.7x | ₹794 Cr | +36.4% | +59.9% |
| Senco GoldJul 2023 | 181x | 65.0x | 15.5x | 73.4x | ₹427 Cr | +35.6% | +40.1% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Pantomath Capital Advisors | 19 | +20.0% | 79% |
Offer documents (NSE)
Frequently asked
What is the Aeroflex Industries IPO price band and lot size? ₹102–108 per share, with a lot of 130 shares, so the smallest retail bid is ₹14,040.
How many times has it been subscribed? 97.1x overall: QIB 195x, NII 126x, retail 34.4x.
How did it list? It opened at ₹190, +75.9% against the issue price of ₹108, and closed its first day +51.2%.
