Aesthetik Engineers IPO subscribed 15 times so far on day 1: Check price band, lot size and other key details

The initial public offering (IPO) of interior design services provider Aesthetik Engineers Limited opened to strong demand on Thursday, August 8, as the issue was fully subscribed within hours of launch.

Aesthetik Engineers IPO was subscribed nearly 15 times riding on a high retail demand on the first day of bidding, showed the NSE data till 2:00 pm.

The NSE SME public offer received bids for 4.5 crore shares against 30.36 lakh shares on offer, leading to an overall subscription of over 15 times.

Retail investors applied for more than 3.4 crore shares compared to 15.18 lakh shares set aside for the category, leading to a subscription of 22.9 times in the segment. The Non-Institutional Investors (NIIs) placed bids for 78.2 lakh shares against 6.52 lakh shares set aside for the category. The public offer was booked 12 times in the NIIs’ category.

Meanwhile, in the Qualified Institutional Buyers (QIBs) category, bids for over 30 lakh shares were received, leading to an overall subscription of 3.5 times.

Aesthetik Engineers IPO subscription is open from August 8 to August 12. The investors, interested in participating in the IPO subscription should check key details like price band, lot size and offer size before bidding.

Aesthetik Engineers IPO: Offer size, price band and minimum investment

Aesthetik Engineers plans to raise ₹26.47 crore from this public issue, consisting entirely fresh issue of 45.64 lakh shares.

Aesthetik Engineers IPO price band has been fixed at ₹55 to ₹58 per share. Retail investors interested in applying for Aesthetik Engineers IPO can place bids for a minimum of 1 lot consisting of 2,000 shares, which aggregates to an investment of ₹1,16,000. High Networth Investors can apply for Aesthetik Engineers IPO by bidding for a minimum of 2 lots or 4000 shares, which translates to an investment of ₹2,32,000.

Aesthetik Engineers IPO dates

Aesthetik Engineers IPO subscription will close on August 12. The IPO share allotment status is expected to be finalised on August 13. Refunds will be initiated for unsuccessful bidders on August 14, and shares of Aesthetik Engineers will be credited to the demat accounts of successful bidders on the same day. Shares of Aesthetik Engineers Ltd will be listed on the NSE SME platform Emerge. The tentative listing date has been fixed as August 16.

Aesthetik Engineers key financials

Aesthetik Engineers’s revenue increased over 50% to ₹60.79 crore in the fiscal year ended March 31, 2024, from ₹40.35 crore in March 31, 2023. The company’s profit after tax surged over 348% to ₹5.02 crore in FY24 compared to ₹1.12 crore in FY23. The interior design firm’s net worth in FY24 grew over 50% to ₹15.02 crore compared to ₹9.99 crore in the preceding fiscal.

Aesthetik Engineers promoters

The promoters of Aesthetik Engineers Limited are Avinash Agarwal, Sreeti Agarwal, Manisha Sureka and Avinash Agarwal (HUF). The promoters hold 100% stake in the company. The shareholding of the promoters is likely to come down to 73.50% after the public issue.

Aesthetik Engineers IPO registrar

The book running lead manager for Aesthetik Engineers IPO is Narnolia Financial Services Ltd and the registrar is Skyline Financial Services Private Ltd. Nikunj Stock Brokers is the market maker for Aesthetik Engineers IPO.

Aesthetik Engineers IPO objectives

Aesthetik Engineers plans to use the money raised via the public issue for meeting the capital expenditure requirements of the company and the working capital requirements of the company. A portion of the funds will also be used for general corporate purposes and to meet the issue expenses.

About Aesthetik Engineers

Aesthetik Engineers, founded in 2003, provides interior design services and is engaged in the design, manufacture, and installation of façade systems. The product portfolio of Aesthetik Engineers includes, Façade, Doors and windows, Railings and stairs, Glass Fiber Reinforced Concrete (GFRC). The company’s production facility is located in Howrah, Kolkata. The company employs 52 people as of June 30, 2024.