Aprameya Engineering IPO Listed with 24% Premium on NSE SME Platform

Aprameya Engineering IPO had a strong debut on the NSE SME platform, with shares opening at ₹72, which is over 24% higher than the issue price of ₹58.

This IPO was a book-built issue with a total size of ₹29.23 crore, involving the issuance of 50.4 lakh new shares. The bidding period began on July 25 and ended on July 29.

The price band for the IPO was set between ₹56 and ₹58 per share. Retail investors were required to make a minimum investment of ₹1.16 lakh for a lot of 2,000 shares, while high net worth individuals (HNIs) needed to invest at least ₹2.32 lakh for 4,000 shares. Hem Securities Ltd acted as the book-running lead manager, with Link Intime India Private Ltd as the registrar.

On July 24, the IPO successfully raised ₹8.32 crore from anchor investors. The IPO received an overwhelming response, with subscription status at 192.57 times by the end of the bidding period on July 29. The retail category was subscribed 187.88 times, the QIB category 90.29 times, and the NII category 339.99 times.

The funds raised from the IPO are intended to support the company's incremental working capital needs and general corporate purposes.

Established in September 2003, Aprameya Engineering focuses on the installation and maintenance of Intensive Care Units (ICUs), Neonatal Intensive Care Units (NICUs), Pediatric Intensive Care Units (PICUs), and operation theatres in hospitals and medical centers. Additionally, the company provides high-value healthcare and diagnostic equipment to both private and government hospitals, as well as to medical practitioners. 

To Summarize

Aprameya Engineering's IPO had a robust debut on the NSE SME platform, with shares opening at ₹72, which is over 24% above the issue price of ₹58. This was a book-built issue with a total size of ₹29.23 crore. The funds raised from the IPO are aimed at meeting the company's incremental working capital needs and general corporate purposes.