Apsis Aerocom IPO subscribed 60% so far on Day 1: Check price band, lot size and key dates

Apsis Aerocom IPO: The initial public offering of precision engineering company Apsis Aerocom has been subscribed 60% so far on the first day of bidding on Wednesday, March 11. The issue will conclude on March 13.

It has received bids for 14,10,000 shares compared to 23,36,400 shares on offer, according to the National Stock Exchange (NSE) data until 12:05 pm.

The ₹35.77 crore initial share sale is a fresh issuance of 32.52 lakh shares, without an offer for sale (OFS) component. The money raised will be utilised for capital expenditure towards the purchase of machinery 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 NSE Emerge 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.

Apsis Aerocom IPO price band and lot size

The price band has been fixed at ₹104 to ₹110 per share. A lot consists of 1,200 shares. The minimum investment for an individual investor is two lots or 2,400 shares.

Apsis Aerocom IPO: Allotment and listing date

Oneview Corporate Advisors Private Limited is the issue's sole book-running lead manager, while Integrated Registry Management Services serves as the registrar.

Apsis Aerocom is into precision engineering, with a focus on manufacture of components and allied services for the defence, aerospace and healthcare industries. It offers engineering and precision machining services, providing end-to-end solutions ranging from design support to final product delivery. It makes products based on specific customer needs and preferences.

Apsis Aerocom IPO GMP

According to investorgain.com and media reports, Apsis Aerocom's unlisted shares are trading at ₹118, reflecting a grey market premium (GMP) of 7.27% compared to the upper price band of ₹110.