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Aztec Fluids & Machinery Listed At BSE SME Platform With Premium

Updated: May 17, 2024 04:41:38pm

Aztec Fluids & Machinery Listed At BSE SME Platform With Premium

New Delhi, May 17 (KNN) Aztec Fluids & Machinery, a provider of industrial printers, consumables, and spares, witnessed a robust listing on the BSE SME platform on May 17th.

The company's shares commenced trading at Rs 90, marking a 34 per cent premium over the issue price of Rs 67.

While the listing gains were significant, they fell short of the expectations in the unofficial grey market, where the shares were trading at a premium exceeding 80 per cent ahead of the debut.

The Rs 24.12 crore initial public offering, consisting solely of a fresh issue of 36 lakh shares, garnered substantial investor interest.

The issue was oversubscribed by a remarkable 218 times, with non-institutional investors applying for 342 times their reserved portion, followed by retail investors who subscribed 228 times their allotted quota.

Qualified institutional buyers also participated actively, subscribing 108 times their allocation.

Established in April 2010, Aztec Fluids & Machinery caters to a diverse array of industries, including personal care, food and beverages, pharmaceuticals, construction materials, cables, wires, pipes, metals, automotive and electronics, agrochemicals, as well as chemicals and petrochemicals, through its range of printers, printer consumables, and printer spares.

The company intends to utilise the proceeds from the public issue to acquire Jet Inks Pvt Ltd, repay outstanding debt, and fund general corporate purposes. The price band for the issue was set at Rs 63-67 per share.

(KNN Bureau)


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