NSE SME IPO of Aimtron Electronics subscribed 1.5 times

Published on May 30, 2024 17:03

The initial public offer (IPO) of Aimtron Electronics received bids for 81,53,600 shares as against 54,04,800 shares on offer, as per NSE data as of 17:00 hours on Thursday (30 May 2024). The issue was subscribed 1.5 times.

The issue opened for bidding on Thursday (30 May 2024) and it will close on Monday (3 June 2024). The price band of the IPO is fixed at Rs 153 to 161 per share. The minimum order quantity is 800 equity shares. The equity shares will list on NSE�s SME platform.

IPO comprises fresh issue of 54,04,800 equity shares. The promoter and promoter group shareholding will dilute to 71.29% from 96.96% Pre-IPO.

About 2,81,600 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 51,23,200 equity shares. The issue and the net issue will constitute 26.48% and 25.10% respectively of the post offer paid up equity share capital of the company.

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

Ahead of the IPO, Aimtron Electronics on Wednesday, 29 May 2024, raised Rs 24.72 crore from anchor investors. The board allotted 15.36 lakh shares at Rs 161 per share to 11 anchor investor.

Aimtron Electronics is engaged in the business of providing products and solutions towards electronics system design and manufacturing (ESDM) services with a focus on high value precision engineering products. It provide product and solutions right from printed circuit board (PCB) design and assembly to the manufacturing of complete electronic systems (Box Build), to certain domestic and global manufacturers located in India, United States of America, Hongkong, United Kingdom, Spain, Mexico.

The company offers a broad range of products and services across multiple industry segments. These ESDM products and services are essential for industrial automation, electric vehicle mobility, IoT and embedded systems, medtech and wearables, gaming, robotics etc. The company has two manufacturing facilities in Gujarat and the other situated in Karnataka. As on 31 December 2023, the company has employed approximately 132 employees at various levels of the organization.

The company recorded revenue from operations of Rs 67.07 crore and net profit of Rs 9.76 crore for the period as on 31 December 2023.