Apollo Techno Industries IPO Day 1: Check live subscription status, price band, lot size, key dates and more

Apollo Techno Industries IPO: The initial public offering of construction equipment maker Apollo Techno Industries opened for subscription on Tuesday, December 23. The BSE SME issue, with a price band of ₹123 to ₹130 per share, will conclude on December 26.

The ₹47.96 crore initial share sale is exclusively a fresh issuance of 36,89,000 shares without an offer for sale (OFS) component. The fresh issue proceeds will be utilised to meet working capital requirements and general corporate purposes.

"We believe that listing will enhance our corporate image and visibility of brand name of our company. We also believe that our company will receive the benefits from listing of equity shares on the BSE SME platform. It will also provide liquidity to the existing shareholders and will also create a public trading market for the equity shares of our company," the firm said in its red herring prospectus.

Apollo Techno Industries IPO: Subscription status

Apollo Techno Industries IPO: Lot size

A lot consists of 1,000 shares. The minimum investment for an individual investor is two lots or 2,000 shares.

Apollo Techno Industries specialises in trenchless technology and foundation equipment for the construction industry. Its product line-up includes horizontal directional drilling (HDD) rigs, rotary drilling rigs, diaphragm drilling rigs and spare parts.

Horizontal directional drilling rigs are used for the installation of essential utilities like water, gas, sewer lines, optical fibre cables, and electrical conduits. Meanwhile, the diaphragm drilling rig is designed for constructing foundations for deep basements, retaining walls in metro and rail stations, as well as developments along riverfronts. The rotary drilling rig is utilised for creating foundation piles needed for high-rise buildings and bridges.

Apollo Techno Industries IPO GMP

According to investorgain.com and media reports, Apollo Techno Industries' unlisted shares are trading at ₹145, reflecting a grey market premium of 11.54% over the upper price band of ₹130.