Aprameya Engineering IPO Day 1 Subscription Status; Check Here

Aprameya Engineering Limited launched its initial public offering (IPO) to raise Rs 29.23 crores through a fresh issue of 50.4 lakh shares. Bidding for the SME IPO began on Thursday, July 25.

The IPO subscription opens on July 25 and closes on July 29. The allotment for the Aprameya Engineering IPO is expected to be finalised by July 30, 2024. Aprameya Engineering IPO will be listed on NSE SME with the tentative listing date fixed as Thursday, August 1.

Investors can participate in the Aprameya Engineering IPO within a price band of Rs. 56 to Rs. 58 per share. The minimum lot size for an application is 2000 shares, requiring a minimum investment of Rs. 116,000 for retail investors. High Net Worth Individuals (HNIs) can apply for a minimum of 2 lots (4,000 shares), amounting to Rs. 232,000.

Aprameya Engineering has reserved 50% of the net issue for qualified institutional buyers (QIBs), 15% of the net offer has been allocated for non-institutional investors (NIIs) and 35% for retail investors. Up to 2,54,000 equity shares have been allotted to the market maker portion.

Hem Securities Limited has been appointed as the book running lead manager of the Aprameya Engineering IPO, while Link Intime India Private Ltd will act as the registrar for the issue. Hem Finlease has been designated as the market maker for the IPO.

Aprameya Engineering IPO was subscribed 3.51 times on Thursday, July 25 at 07:30 p.m. as per the market tracking site Chittorgarh.

• Non-Institutional Buyers: 1.49 times.

• Retail Investors: 2.11 times.

• Qualified Institutions: 7.49 times.

• Anchor Investors: 1 time.

Founded in September 2003, Aprameya Engineering Limited specializes in installing and maintaining Intensive Care Units (ICU), Neonatal Intensive Care Units (NICU), Pediatric Intensive Care Units (PICU), Operation Theatres, and prefabricated structure wards in hospitals and medical care centers. The company provides these services on a turnkey basis and also supplies high-value healthcare and diagnostic equipment to both private and government hospitals, as well as medical practitioners.

The proceeds from the IPO will primarily be used for:

• Incremental Working Capital Requirements: Including augmentation on Long Term Working Capital.

• General Corporate Purposes: Supporting overall business growth and operational needs.

Aprameya Engineering Limited has reported a decrease in revenue by -16.23% and a drop in profit after tax (PAT) by -35.62% between the financial years ending March 31, 2024, and March 31, 2023.