Apsis Aerocom IPO oversubscribed 120 times: What to know
Apsis Aerocom's IPO just closed with an eye-popping 120-fold oversubscription, raising ₹35.77 crore by offering 32.52 lakh new shares at ₹104 to ₹110 each.
Even with the market down 5%, the demand was huge: one lot cost ₹1.32 lakh at the ₹110 upper band, and the minimum retail application was two lots (₹2,64,000 at ₹110).
CNC components manufacturer for aerospace, defense, and healthcare industries
Based in Bengaluru, Apsis Aerocom makes high-precision CNC components for aerospace, defense, and healthcare industries.
The company is building a second factory to ramp up production, aiming to make three lakh parts every year.
GMP and other details
The IPO drew over 28 crore bids against just 23 lakh available shares: non-institutional investors led the charge with nearly 237-fold oversubscription, while retail and institutional buyers weren't far behind at about 100-fold each.
Gray market premiums reported in media varied (around ₹0 to ₹18, with some sources indicating over 15%).
Share allotment is set for March 16, and listing on NSE Emerge follows on March 18.