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19 Nov 2024
Associated Coaters' initial public offering reported robust subscription numbers on its final day of bidding, June 3. Investors bought 13.21 crore equity shares, 313.2 times higher than the offer size of 4.22 lakh equity shares.
Retail investors took the lead, picking 495 times the reserved portion, while institutional and non-institutional investors bid 247.65 times the allotted quota
It is a small issue worth Rs 5.11 crore, comprising only a fresh issue of 4.22 lakh equity shares. The price for the fixed price issue has been fixed at Rs 121 per share.
Associated Coaters that provides services of pre-treatment and powder coating of aluminium extrusions in architect and real estate industries is going to utilise issue proceeds for installation of plant & machinery in the existing premises, working capital requirements, and general corporate purposes.
Further, Aimtron Electronics, which provides products and solutions for electronics system design and manufacturing services, also closed its maiden public issue on Monday. It was subscribed 92.09 times as investors picked 35.62 crore equity shares against the IPO size of 38.68 lakh equity shares.
The part set aside for non-institutional investors was booked 203.2 times, and that of retail investors 71.63 times. Qualified institutional buyers bid 70 times the reserved portion.
The Gujarat-based company launched the public issue on May 30 to raise Rs 87.02 crore via public issue of 54.04 lakh equity shares, at the upper end of price band of Rs 153-161 per share.
Both Associated Coaters and Aimtron Electronics will finalise the basis of allotment of IPO shares by June 4, while their equity shares will be credited to demat accounts of successful investors by June 5.
Both will make their debut on the BSE SME and NSE Emerge, respectively, on June 6.
Meanwhile, the TBI Corn IPO recorded 50.75 times subscription on its second day of bidding. Investors bid 17.37 crore equity shares against the offer size of 34.22 lakh equity shares.
The Maharashtra-based corn meal grits maker will close its Rs 44.94-crore initial share sale on June 4.
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