Aesthetik Engineers Ltd Shares Surge 90% on NSE SME Debut

ENA Sectors 2024-08-16 16:28:18 New Delhi, Aug 16 (KNN) Aesthetik Engineers Ltd, a specialist in architectural facades and components, made a remarkable entry on the NSE SME exchange today. The company's shares opened at Rs 110.2, representing a 90 per cent premium over the issue price of Rs 58. The initial public offering (IPO), which raised Rs 26.47 crores, consisted entirely of fresh shares totaling 45.6 lakh. The book-built issue saw bidding from August 8 to August 12, with share allotment finalised on August 13. Investor interest was notably high, with the IPO oversubscribed by 705.26 times at close. The retail category saw 461.58 times subscription, while the Qualified Institutional Buyers (QIB) and Non-Institutional Investors (NII) categories were oversubscribed by 207.31 and 1,933.96 times, respectively. The company set the IPO price band at Rs 55-58 per share, with a minimum lot size of 2,000 shares. This resulted in a minimum investment of Rs 1.16 lakh for retail investors and Rs 2.32 lakh for high-net-worth individuals. Narnolia Financial Services Ltd managed the book-running process, with Skyline Financial Services Pvt Ltd acting as the registrar. Prior to the public issue, Aesthetik Engineers secured Rs 7.52 crore from anchor investors on August 7. The IPO proceeds are allocated for capital expenditure, working capital enhancement, general corporate purposes, and issue expenses. Founded in 2003, Aesthetik Engineers specialises in designing, engineering, fabricating, and installing architectural facades, aluminium fixtures, and Glassfibre Reinforced Concrete (GFRC) components for various sectors including hospitality, residential, commercial, and infrastructure projects. (KNN Bureau) 38985 https://knnindia.co.in/news/newsdetails/sectors/aesthetik-engineers-ltd-shares-surge-90-on-nse-sme-debut 2024-08-16 16:28:18 knnindia.co.in Aesthetik Engineers Ltd Shares Surge 90% on NSE SME Debut