Aztec Fluids and Machinery IPO subscribed over 19 times on day 2: Latest subscription status, price band and key details

Aztec Fluids and Machinery Limited IPO opened to strong demand from the investors on Friday, May 10, as the initial public offering was fully subscribed within hours of launch. The public issue has been booked more than 19 times so far on the second day of bidding on May 13.

According to the BSE data, the public issue received bids for 4.97 crore shares against 25.78 lakh shares on offer, indicating an overall subscription of 19.29 times till 4:50 pm on the second day of bidding on Monday.

The Qualified institutional buyers’ (QIBs) portion was booked 2.85 times. The non-institutional investors’ (NIIs) category was booked 14.92 times, while retail portion receiving 31.22 times bidding.

The ₹24.12-crore book-built issue is entirely a fresh issue of 36 lakh shares of a face value of ₹10 each.

The public offer of the manufacturer and trader of a range of printers and printer fluids is open for subscription from May 10 to May 14.

Aztec Fluids and Machinery IPO details

The company has reserved 50% of the issue size for QIBs, 35% for retail investors and the remaining 15% for the NIIs.

The company has reserved 1.82 lakh shares for market maker Hem Finlease and another 1,022,000 shares for anchor investors.

Hem Securities Limited has been appointed as the book-running lead manager of the IPO, while Bigshare Services Pvt Ltd will be serving as the registrar.

Aztec Fluids and Machinery IPO price band, allotment and listing

Aztec Fluids and Machinery IPO price band has been fixed at ₹63 to ₹67 per share, with a minimum lot size for an application at 2,000 shares. At this price band, a retail investor will be required to invest a minimum of ₹1,34,000. For high-net-worth individuals, the minimum lot size is kept at 2 lots or 4,000 shares, requiring an investment of ₹2,68,000.

Aztec Fluids and Machinery IPO allotment is likely to be finalised on Wednesday, May 15, and those who will not receive shares are likely to get their money back on the very next day, May 16. Successful applicants can expect the company to credit the IPO shares in their Demat accounts on the same day.

Aztec Fluids and Machinery IPO listing is scheduled for May 17, 2024 on the BSE SME platform.

About Aztec Fluids and Machinery Ltd

Set up in April 2010, Aztec Fluids and Machinery is a leading provider of printers, printer consumables and printer spares to various industries. Key industries it caters to are personal care, food & beverages, agrochemicals, pipes, cables, wires, pharma, construction materials, metals, automotive, electronics, petrochemicals and chemicals.

Among the various products, some of the key offerings in the printer segment are continuous inkjet printers (CIJ), thermal transfer over printers, drop-on-demand printers, piezoelectric printers, and laser printers. It also offers printer inks and consumables such as makeup and cleaning solvents.

Aztec Fluids and Machinery exports its products to countries like Sri Lanka, Bangladesh, Nepal, Bhutan, Kenya and Nigeria.