Aimtron Electronics (AIMT) IPO Sees 90% Subscription on Day 1, Signaling Strong Investor Demand

• The initial public offering (IPO) of Aimtron Electronics Ltd opened for subscription today, May 30, and has been receiving strong response from investors.
• Aimtron Electronics is an electronics system design and manufacturing (ESDM) services provider.
• The IPO bidding will end on June 3, and it is an SME IPO.

Aimtron Electronics IPO sees robust investor interest; check GMP, subscription status, and key details.

Aimtron Electronics IPO GMP

Aimtron Electronics IPO GMP today, or grey market premium today, is ₹50 per share, as per stock market observers. This indicates that Aimtron Electronics shares are trading at ₹211 apiece in the grey market, higher by ₹50, or at a premium of 31.06% to the issue price of ₹161.

Aimtron Electronics IPO Subscription Status

Aimtron Electronics IPO has been subscribed 0.90 times so far on May 30, the first day of the bidding process. The public issue received bids for 32.34 lakh equity shares as against 35.87 lakh shares on the offer, as per data available till 1:50 pm.

The IPO has been subscribed 1.43 times in the retail category, 0.32 times in the Qualified Institutional Bidders (QIB) category, and 0.45 times in the Non-Institutional Investors (NII) category so far.

Aimtron Electronics IPO Details

Aimtron Electronics IPO opened for subscription on May 30 and will close on June 3. The IPO allotment is likely to be finalized on June 4 and the IPO listing date is June 6. The equity shares of Aimtron Electronics will be listed at NSE SME.

Aimtron Electronics IPO price band is set at ₹153 to ₹161 per share. At the upper-end of the price band, Aimtron Electronics IPO size comes at ₹87.02 crore. The book-built issue is entirely a fresh issue of 54.05 lakh equity shares.

The IPO lot size is 800 shares and the minimum investment amount required by retail investors is ₹128,800.

The company intends to utilize the net issue proceeds for repayment in whole or in part, of certain of the outstanding borrowings, funding capital expenditure towards the installation of additional plant and machinery, working capital requirements and general corporate purposes.

Hem Securities is the book running lead manager of the Aimtron Electronics IPO, while Link Intime India Private Ltd is the IPO registrar.

Mukesh Jeram Vasani, Nirmal M Vasani and Sharmilaben Lakhanbhai Bambhaniya are the promoters of the company. The promoter shareholding will come down to 71.29% after the IPO from the current 96.96%.

Conclusion

In summary, Aimtron Electronics’ IPO has garnered significant interest from investors, reflected in its strong GMP and subscription status. With a clear strategy for utilizing the proceeds, the company is poised for further growth. Investors should keep an eye on the final allotment and listing dates for potential investment opportunities.