The initial public offer (IPO) of Aluwind Architectural received bids for 22,89,000 shares as against 64,00,000 shares on offer, as per NSE data as of 17:00 hours on Thursday, (28 March 2024). The issue was subscribed 0.35 times. The issue opened for bidding on Thursday, (28 March 2024) and it will close on Thursday, (4 April 2024). The price of the IPO is fixed at Rs 45 per share. The minimum order quantity is 3,000 equity shares. The equity shares will list on NSE?s SME platform.
The IPO comprises fresh issue of 66,00,000 shares. The promoter and promoter shareholding will dilute to 72.13% from 98.22% pre-IPO.
About 3,30,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 62,70,000 equity shares. The issue and the net issue will constitute 26.56 % and 25.23% respectively of the post offer paid up equity share capital of the company.
The company intends to utilize the net proceeds to meet funding of working capital requirements and for general corporate expenses.
Aluwind Architectural is primarily engaged in designing, drawing, fabricating and installation of windows and facade systems at various civil structure sites. The company operates in the segment of manufacturing and installing a diverse range of aluminum products. This includes windows, doors, curtain walls, cladding, and glazing systems, all meticulously crafted to meet the unique needs of architects, consultants, builders, institutions, and corporations. The company has successfully expanded its market presence, with products sold in cities across India, including Mumbai, Pune, Bangalore and Hyderabad. As of 30 September 2023, the company has 178 permanent employees.
The company recorded revenue from operations of Rs 41.36 crore and net profit of Rs 3.72 crore for the period as on 30 September 2023.
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