The Aimtron Electronics IPO began its journey on May 30 and has already garnered considerable attention from investors. As of now, the IPO is subscribed by 90% within the first day of bidding, showcasing significant interest from the market.
Aimtron Electronics is a company that specializes in electronics system design and manufacturing services. This IPO, categorized as an SME IPO, will continue to accept bids until June 3.
Grey Market Premium (GMP)
Currently, the grey market premium (GMP) for Aimtron Electronics IPO stands at ₹50 per share. This means that in the grey market, Aimtron Electronics shares are trading at ₹211 each, reflecting a premium of 31.06% compared to the issue price of ₹161.
As for the subscription status, the IPO has received bids for 0.90 times the offered shares, indicating a healthy demand. Retail investors have shown particular interest, subscribing 1.43 times, while Qualified Institutional Bidders (QIB) and Non-Institutional Investors (NII) have subscribed 0.32 times and 0.45 times, respectively.
The IPO, which opened on May 30, is set to close on June 3. Allotment is expected by June 4, and the listing date is scheduled for June 6 on NSE SME.
The price band for Aimtron Electronics IPO is between ₹153 to ₹161 per share. At the upper end, the IPO size is ₹87.02 crore, with a total of 54.05 lakh equity shares on offer.
Investors can participate with a minimum investment of ₹128,800, with the intention of utilizing the proceeds for various purposes like debt repayment, capital expenditure, and working capital requirements.
Hem Securities is managing the IPO, with Link Intime India Private Ltd serving as the registrar.
The promoters of Aimtron Electronics are Mukesh Jeram Vasani, Nirmal M Vasani, and Sharmilaben Lakhanbhai Bambhaniya. Post-IPO, their shareholding will reduce to 71.29% from the current 96.96%.
Aimtron Electronics operates manufacturing facilities in Vadodara, Gujarat, and Bengaluru, Karnataka. For the nine months ended December 31, 2023, the company recorded revenue of ₹67.64 crore and a net profit of ₹9.76 crore.
In FY23, Aimtron Electronics witnessed a significant revenue growth of 169%, reaching ₹72.39 crore, while reporting a net profit of ₹8.63 crore, a turnaround from the previous fiscal year’s net loss.
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