Aztec Fluids & Machinery IPO shares commenced trading on the BSE SME Exchange with a robust premium of 34.33%, opening at ₹90 per share on Friday. Investor anticipation for substantial listing gains from the IPO was evident, as reflected in the high subscription status and grey market premium.
The Aztec Fluids & Machinery IPO garnered remarkable attention, with an oversubscription of 218 times overall and 228.43 times in the retail segment by the closing day on May 14, 2024. The IPO subscription opened on May 10, 2024.
According to investorgain.com, the grey market premium (GMP) for Aztec Fluids & Machinery IPO stood at ₹54, indicating trading at ₹121 in the grey market, which was 80.60% higher than the issue price of ₹67.
A grey market premium signifies investors’ willingness to pay more than the issue price for shares.
As outlined in the Red Herring Prospectus (RHP), Aztec Fluids & Machinery specializes in providing coding and marking solutions across various sectors, serving industries such as metals, automotive, electronics, food and beverage, pharmaceuticals, and more. The company offers a range of printers, including thermal transfer over (TTO), laser, NIJ (piezoelectric), and continuous inkjet (CIJ), along with inks, consumables, makeup, and cleaning solvents.
The book-built issue of Aztec Fluids & Machinery, amounting to ₹24.12 crores, comprised a fresh issue of 36 lakh shares with a price band of ₹63 to ₹67 per share and a lot size of 2000 shares.
Proceeds from the IPO will be utilized for financing the planned acquisition of Jet Inks Private Limited equity shares, repaying a portion of the company’s loan, and general corporate purposes.
