Shares of Aluwind Architectural made a flat debut in the market, listing at Rs 45 on NSE SME platform, on April 9.
The listing fell short of the grey market, where shares commanded a premium of Rs 5. The grey market for financial securities refers to unofficial, over-the-counter (OTC) transactions in a security before listing on the exchanges.
The Rs 29.70-crore public offer comprised fresh 66 lakh shares. The company specialises in crafting and installing a diverse range of aluminum products. Its offerings include windows, doors, curtain walls, cladding, and glazing systems, all tailored precisely to meet the unique requirements of architects, consultants, builders, institutions, and corporations.
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The Aluwind Architectural IPO witnessed a subscription of 8.19 times on the last day of bidding. The SME IPO received 51.3 crore share applications against the offered 66 lakh shares. In detail, the retail category received 33.5 crore share applications, while the NII portion received 16.3 crore shares.
The funds raised through the IPO will be allocated to support the company's operational needs and the rest of the portion of the funds will be allocated to cover general corporate expenses.
The price band of the issue was fixed at Rs 45. Corpwis Advisors Private Limited is the book running lead manager of the Aluwind Architectural IPO, while Skyline Financial Services Private Ltd is the registrar for the issue.
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