Shares of Aztec Fluids & Machinery were quoting at Rs 85.50 on the BSE, a premium of 27.61% compared with the issue price of Rs 67.
The scrip was listed at Rs 90, a premium of 34.33% compared with the initial public offer (IPO) price. The stock is currently frozen in its lower limit of 5% over its listing price.The counter hit a high of Rs 90 and a low of Rs 85.50. About 10.80 lakh shares of the company changed hands at the counter.
Aztec Fluids & Machinery's IPO was subscribed 145.39 times. The issue opened for bidding on 10 May 2024 and it closed on 14 May 2024. The price band of the IPO was fixed at Rs 63 - 67 per share.
The IPO comprised fresh issue of 36,00,000 shares. The company intends to utilise the net proceeds for funding of the proposed acquisitions of equity shares of Jet Inks private, repayment of a portion of certain borrowings availed by the company and for general corporate purposes.
Ahead of the IPO, Aztec Fluids & Machinery raised 6.84 crore from anchor investors. The board allotted 10.22 lakh shares at Rs 67 per share to 5 anchor investors.
Aztec Fluids & Machinery provides coding and marking solutions to a diverse range of industries such as personal care, food & beverages, pharmaceuticals, construction materials, cables, wires & pipes, metals, automotive & electronics, agrochemicals, chemicals & petrochemicals. The range of products allows its customers to print vital variable information like batch number, date, price, logo, brand, size, barcodes, promotional codes, meter marks, special marks etc. on the products such as steel tubes, aluminum panels, G.I. sheets, laminates, glass, PVC, plywood, woven sac, corrugated boxes, plastics and packing materials. as on 31 March 2024, the company has 104 employees.
The company recorded revenue from operations of Rs 50.92 crore and net profit of Rs 4.50 crore for the period from 1 April 2023 to 31 December 2023.
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