Aesthetik Engineers Limited set to launch IPO on August 8, 2024

 

Mumbai: “Aesthetik Engineers Limited” (AEL), a prominent company in the design, engineering, fabrication, and installation of facade systems, is set to launch its Initial Public Offering (IPO) on August 8, 2024. The company plans to issue 45,64,000 equity shares, each with a face value of ₹10, aiming to raise ₹26.47 crores at the upper price band. The shares will be listed on the Emerge platform of the National Stock Exchange (NSE).

Issue Details:
Total Issue Size: 45,64,000 Equity Shares
Face Value: ₹10 per share
Issue Size: ₹26.47 Crores (At Upper Band)
Price Band: ₹55-₹58 per share
Lot Size: 2,000 Equity Shares

Equity Share Allocation:
Qualified Institutional Buyers (QIB) excluding Anchor Investors: Up to 8,66,000 Equity Shares
Anchor Investor Portion: Up to 12,96,000 Equity Shares
Non-Institutional Investors (NII): Not less than 6,52,000 Equity Shares
Retail Individual Investors (RII): Not less than 15,18,000 Equity Shares
Market Maker: Up to 2,32,000 Equity Shares

The net proceeds from the IPO will primarily be used for the company's capital expenditure, working capital requirements, and general corporate purposes. The bidding for the anchor portion will commence on August 7, 2024, with the issue opening for subscription on August 8, 2024, and closing on August 12, 2024.

Mr. Avinash Agarwal, Managing Director of Aesthetik Engineers Limited, expressed enthusiasm about the upcoming IPO, stating, "We are delighted to announce our IPO on the NSE Emerge Platform. The proceeds from this issue will be strategically utilized to meet the capital expenditure requirements of the company, our working capital needs, and general corporate purposes".

Mr. Pankaj Pasi, Executive Director of the Merchant Banking Division at Narnolia Financial Services Limited, the lead manager for the issue, commented, "We are pleased to lead and manage the IPO of Aesthetik Engineers on the NSE Emerge Platform. The company offers a wide range of products and services to meet the demands of customers in various industries, including hospitality, residential, commercial, and infrastructure projects. Considering market trends, we wish Aesthetik Engineers all the best for a successful listing".

The Lead Manager for the Issue is Narnolia Financial Service Limited. The Registrar to the Issue is Skyline Financial Services Private Limited.

“Aesthetik Engineers Limited” is well-positioned to leverage the funds raised through the IPO to expand its operations and strengthen its market presence, continuing its growth trajectory in the facade systems industry.