Aegeus Technologies IPO oversubscribed 24.33 times amid retail demand
Aegeus Technologies, the Bengaluru-based solar panel cleaning robots maker, just had a blockbuster IPO: investors wanted in so badly that shares were oversubscribed 24.33 times.
The IPO ran from August 4-6, aiming for ₹23.71 crore, but got bids for 4.1 crore share bids for only 16.86 lakh available shares.
Retail investors especially jumped at the chance, subscribing at 25.59 times the shares set aside for them.
Raised 6.01cr from anchor investors
Right before the IPO opened, Aegeus raised ₹6.01 crore from anchor investors like Aarth AIF Growth Fund at ₹105 per share.
The company plans to use these fresh funds to build new products, set up a manufacturing plant, cover working capital needs, and for general corporate purposes, basically fueling their next growth phase.
Shares will officially list on the BSE SME platform on August 11, with allotments wrapping up by August 7.