Aluwind Architectural IPO Opens at ₹45, maintaining its issue price, later Hits 5% Upper Circuit

Tanushree Jaiswal Tanushree Jaiswal 10th April 2024 - 03:17 pm
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Today marked much-anticipated debut of Aluwind Architectural IPO on National Stock Exchange's SME platform, albeit with muted start. Investors were keenly eyeing listing, which opened at ₹45 per share, precisely matching issue price. However, stock failed to ignite immediate excitement & remained locked in 5% upper circuit after lackluster debut.

Aluwind Architectural IPO subscription opened on March 28 & closed on April 4. IPO, valued at ₹29.70 crore, saw subscription of 8.19 times on last day, indicating considerable investor interest. issue's price band was set at ₹45 per share, with lot size of 3,000 shares.

Read more about Aluwind Architectural IPO

Aluwind Architectural Limited specializes in producing & installing aluminum products such as windows, doors, curtain walls, cladding, & glazing systems. Company's offerings cater to unique needs of various stakeholders, including architects, consultants, builders, institutions, & corporations. With expanding presence across cities like Mumbai, Pune, Bangalore, & Hyderabad, Aluwind exemplifies commitment to national customer service & market penetration.

IPO, consisting entirely of fresh issue of 6,600,000 equity shares, aimed to raise funds to fuel company's growth trajectory & operational requirements. Notably, promoters of Aluwind Architectural include Jagmohan Ramshankar Kabra, Rajesh Kabra, Jagmohar Manohar Ramshankar Kabra, & Jagmohan Kabr HUF.

Corpwis Advisors Private Limited served as book running lead manager for IPO, with Skyline Financial Services Private Ltd acting as registrar. IPO's subscription status underscored investor confidence, with significant oversubscription across retail & non-institutional categories.

Also read Aluwind Architectural IPO Subscribed 8.19 times

Despite muted listing, Aluwind Architectural shares showed resilience, gaining momentum as trading progressed. Stock, trading at ₹47.25 per share, reflected 5% increase from issue price, signaling optimism among investors. Robust trading activity on NSE SME platform saw over 18.33 lakh shares traded, with turnover of ₹8.4 crore, contributing to market valuation of ₹117.4 crore.

To Summarize

Aluwind Architectural's journey on NSE SME platform commenced with cautious steps, with shares listing flat at ₹45 per share. However, subsequent uptick in trading activity & price appreciation underscore company's potential for growth & value creation. As company embarks on its public market journey, investors remain eager to witness its performance & contributions to burgeoning aluminum products industry.

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