Aesthetik Engineers Ltd's shares made a stellar debut on the NSE SME, with them listing at a 90 percent premium, opening at Rs 110.2 apiece compared to the issue price of Rs 58.
Aesthetik Engineers' IPO, valued at Rs 26.47 crores, was a book-built issue, entirely composed of fresh shares amounting to 45.6 lakh shares. Bidding for the IPO commenced on August 8 and concluded on August 12. The allotment was finalised on August 13.
The IPO was subscribed 705.26 times by the close on August 12. The public issue witnessed 461.58 times subscriptions in the retail category, 207.31 times in the QIB category, and 1,933.96 times in the NII category.
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The IPO was priced within a band of Rs 55 to Rs 58 per share, with the minimum lot size set at 2,000 shares. Retail investors had to invest a minimum of Rs 1.16 lakh while high-net-worth individuals (HNIs) were required to invest at least Rs 2.32 lakh for two lots. Narnolia Financial Services Ltd acted as the book-running lead manager for the issue, while Skyline Financial Services Pvt Ltd served as the registrar.
Ahead of the public offering, Aesthetik Engineers managed to secure Rs 7.52 crore from anchor investors on August 7.
The proceeds from the IPO are earmarked for capital expenditure requirements, enhancing working capital, supporting general corporate purposes, and covering issue expenses.
Aesthetik Engineers, founded in 2003, specialises in the design, engineering, fabrication, and installation of architectural facades, aluminium doors, windows, railings, stairs, and Glassfibre Reinforced Concrete (GFRC) components. These services cater to a diverse clientele across hospitality, residential, commercial, and infrastructure projects.
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