Shares of Aeroflex Industries on Thursday got listed on the bourses with a huge premium of 83 per cent over its issue price of Rs 108.
The stock listed at Rs 197.40, reflecting a steep jump of 82.8 per cent on the BSE. On the NSE, the scrip made its debut at Rs 190, witnessing a sharp uptick of 76 per cent.
The initial public offering (IPO) of Aeroflex Industries last week received a whopping 97.07 times subscription.
The Rs 351-crore initial share sale had a price range of Rs 102-108 apiece.
Mumbai-based Aeroflex is a manufacturer and supplier of metallic flexible flow solution products, catering to global markets. It exports its products to more than 80 countries, including Europe and the US, and generates 80 per cent of its revenue from exports.
For fiscal 2023, Aeroflex generated a consolidated revenue from operations of Rs 269.4 crore and a profit after tax (PAT) of Rs 30.1 crore.