Aluwind Architectural IPO subscribed over 7 times on final day, check key details

Aluwind Architectural Ltd IPO was subscribed more than 7 times at the end of bidding on Thursday, April 4, despite a slow start after the launch.

The initial public offer received bids for over 4.84 crore shares compared to 62.7 lakh shares on offer for public investors on the final day of subscription, as per the NSE data.

The retail portion of the public issue was booked over 10 times with applications for 3.19 crore shares compared to 31.35 lakh shares reserved for the category. In the non-institutional investors’ (NIIs) category the issue received bids for more than 1.52 crore shares compared to 31.35 lakh shares on offer, reflecting a subscription of 4.85 times.

In the qualified institutional buyers’ (QIBs) category the IPO received bids for 13.62 lakh shares.

Aluwind Architectural IPO allotment status and listing date

Aluwind Architectural IPO was available for subscription between March 28 and April 4. Aluwind Architectural IPO share allotment status is expected to be finalised on Friday, April 5. The allotment status will be updated on the official website of Aluwind Architectural IPO registrar – Skyline Financial Services Private Ltd.

Credit of shares into the demat account of successful bidders is expected to be completed on Monday, April 8. Refunds for non-allottees will also be initiated on the same day.

Aluwind Architectural shares are tentatively scheduled to be listed on the SME platform of the National Stock Exchange, NSE Emerge, on Tuesday, April 9.

Aluwind Architectural IPO Details

Aluwind Architectural Ltd, a leading provider of high-quality aluminium windows and glass facade solutions, intends to raise ₹29.70 crore from the public issue. The IPO consists entirely of a fresh issue of 66 lakh shares, including a market-maker portion of 3.3 lakh shares. There is no offer-for-sale component in this NSE SME IPO.

Aluwind Architectural reserved 50% of the net issue for retail investors whereas the remaining half of the offer size was set aside for other investors’ categories including QIBs and NIIs.

Aluwind Architectural IPO price band was fixed at ₹45 per share of a face value of ₹10 each. The IPO lot size for retail investors was of 3,000 shares, aggregating to a minimum investment of ₹1.35 lakh.

Aluwind Architectural will use the money raised in the IPO to fund its working capital requirements and general corporate purposes.

About Aluwind Architectural Ltd

Incorporated in 2003, Aluwind Architectural is a key player in the facade and fenestration industry, having expertise in the production and installation of various aluminium products.

The company's product portfolio includes curtain walling, windows, doors, cladding and glazing systems tailor-made for its clientele which includes architects, developers, consultants, institutions and businesses. Leading developers like Larsen and Toubro and Birla are among the key clients of Aluwind Architectural Ltd.

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