Aeroflex raises Rs 103 cr; Vishnu Prakash IPO sets price band at Rs 94-99

Mumbai-based Aeroflex Industries on Monday allotted shares worth Rs 103.68 crore to anchor investors. The company allocated nearly 9.6 million shares at Rs 108 apiece to 10 anchor investors.

Some of the institutions that were allotted shares under the anchor category were Societe Generale, Nippon Mutual Fund, Invesco Mutual Fund, Winro Commercial and Universal Sampo General Insurance.  

Famed investor Ashish Kacholia-backed Aeroflex has priced its issue between Rs 102 to Rs 108. At the top-end, Aeroflex is valued nearly Rs 1,400 crore. The IPO comprises a fresh fund raise of Rs 162 crore and an offer for sale of Rs 189 crore.

 

Vishnu Prakash IPO sets price band at Rs 94-99 per share

Engineering, procurement and construction (EPC) firm Vishnu Prakash R Punglia on Monday said it has fixed a price band of Rs 94-99 per share for its Rs 309-crore initial public offering (IPO).

The maiden public issue will open on August 24 and conclude on August 28, the company said. The IPO comprises a fresh issue of 31.2 million equity shares with no offer-for-sale (OFS) component. The offer also includes a reservation for a subscription by eligible employees.

Proceeds from the fresh issuance will be utilised for purchasing capital equipment, funding the working capital requirements of the company and the balance for general corporate purposes. The IPO will fetch Rs 293.28 crore and Rs 308.88 crore at the lower and upper end of the price band, respectively.