The initial public offering (IPO) of Aesthetik Engineers Ltd, which started on Thursday, is now on its second day of bidding. The ₹26.47 crore IPO has so far received a subscription rate of 32.09%, with bids placed for 9,74,36,000 shares against the 30,36,000 shares available.
Breaking down the data, the retail quota has been subscribed 49.81 times, while non-institutional investors have subscribed 27.49 times. The Qualified Institutional Buyers (QIB) category has seen a 4.5 times subscription. On the first day, the IPO received an impressive 26.43 times subscription.
The IPO will close on Monday, August 12. The price range for the shares is set between ₹55 and ₹58 each. The allotment of shares is expected to be finalized on August 13, with the listing on the NSE SME platform scheduled for August 16.
In the grey market, unlisted shares of Aesthetik Engineers Ltd are trading at a ₹25 premium over the issue price. This suggests that the grey market expects a listing gain of around 43.1%. It’s important to note that the grey market premium (GMP) reflects investor sentiment and can change frequently.
Founded in 2003, Aesthetik Engineers Limited specializes in interior design services, including the design, manufacture, and installation of facade systems. The ₹26.47 crore IPO includes a fresh issue of 45.64 lakh shares. Retail investors must apply for a minimum of 2,000 shares, making the smallest possible investment ₹1,16,000 [2,000 shares x ₹58 (upper price band)].
However, investors should still do their own research before investing in the IPO.
It’s important to understand the company’s business, financials, and future prospects. Investors should also consider their own risk appetite and investment goals before making a decision.
Key Points to Remember
- Aesthetik Engineers IPO is still open for subscription.
- The IPO has received a good response so far.
- The GMP is currently high, but it’s not a guaranteed indicator of listing price.
- Investors should conduct their own research before investing.