NSE SME Aesthetik Engineers spurts on listing

The scrip was listed at Rs 110.20, a premium of 90% over the initial public offer (IPO) price. The stock was frozen in its upper limit of 5% over its listing price.

The counter hit a high of Rs 115.70 and a low of Rs 110.20. About 9.74 lakh shares of the company changed hands at the counter.

Aesthetik Engineers' IPO was subscribed 474.92 times. The issue opened for bidding on 8 August 2024 and it closed on 12 August 2024. The price band of the IPO was set at Rs 55 to Rs 58 per share.

The IPO comprised fresh issue of 45,64,000 shares. The promoter and promoter group shareholding diluted to 73.50% from 100% pre-IPO.

The company intends to utilize the net proceeds for capital expenditures, working capital requirements and for general corporate purposes.

Ahead of the IPO, Aesthetik Engineers on 7 August 2024, raised Rs 7.51 crore from anchor investors. The board allotted 12.96 lakh shares at Rs 58 per share to 7 anchor investor.

Aesthetik Engineers is engaged in the business of designing, engineering, fabrication and installation of facade systems. Its portfolio includes Building facades, aluminum doors and windows, railing and staircase and glassfibre reinforced concrete (GFRC). The company offers a wide range of products and services to meet the demands of our customers who belong to various industries such as hospitality, residential, commercial, and infrastructure projects. As on 30 June 2024, the company has 52 permanent employees.

The company recorded revenue from operations of Rs 6.07 crore and net profit of Rs 5.02 crore for the period as on 31 March 2024.