Shares of Aimtron Electronics were quoting at Rs 253.05 on the NSE, a premium of 57.17% compared with the issue price of Rs 161.
The scrip was listed at Rs 241, a premium of 49.69% over the initial public offer (IPO) price. The stock is currently frozen in its upper limit of 5% over its listing price.
The counter hit a high of Rs 253.05 and a low of Rs 240.10. About 25.20 lakh shares of the company changed hands at the counter.
Aimtron Electronics' IPO was subscribed 65.91 times. The issue opened for bidding on 30 May 2024 and it closed on 3 June 2024. The price band of the IPO was fixed at Rs 153 to 161 per share.
IPO comprised fresh issue of 54,04,800 equity shares. The promoter and promoter group shareholding diluted to 71.29% from 96.96% pre-IPO.
The company intends to utilise the net proceeds for repayment in full or in part, of certain of our outstanding borrowings, funding capital expenditure towards installation of additional plant and machinery, funding to meet working capital requirements and for general corporate purpose.
Ahead of the IPO, Aimtron Electronics on 29 May 2024, raised Rs 24.72 crore from anchor investors. The board allotted 15.36 lakh shares at Rs 161 per share to 11 anchor investor.
Aimtron Electronics is a company that designs and manufactures electronic systems (ESDM) for various industries. They specialize in high-precision products and offer a complete service, from designing circuit boards to assembling finished systems. Aimtron has a presence in both domestic and international markets and operates manufacturing facilities in Gujarat and Karnataka, India. As of December 2023, they employ around 132 people.
The company recorded revenue from operations of Rs 67.07 crore and net profit of Rs 9.76 crore for the period as on 31 December 2023.
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