Aprameya Engineering IPO to open tomorrow; price band set at ₹56-58 apiece

Aprameya Engineering IPO: The initial public offering ofAprameya Engineering Ltd will commence for subscription from Thursday, July 25 and end on Monday, July 29. The issue has set its price band in the range of ₹56 to ₹58 per share, having a face value of ₹10 per share. There is a minimum of 2,000 shares up for bid, as well as multiples of those.

50% of the net issue for QIB, 35% for retail investors, and 15% for the NII section are made up of the IPO.

Considering that the minimum lot size for an application is 2000 shares, retail investors must deposit a minimum of ₹1.16 lakh. For HNIs, two lots, or 4000 shares, are the minimum bidding size, requiring a total investment of ₹2.32 lakh at the higher price band.

Since its incorporation in September 2003, Aprameya Engineering Limited has been involved in the provision of high-value medical equipment and healthcare infrastructure, including the installation, setup, and upkeep of operation theaters, intensive care units (ICU), neonatal intensive care units (NICU), pediatric ICUs, and prefabricated structure wards in hospitals and healthcare facilities.

From FY21 to FY24, it generated revenue of around ₹235 crore from hospital infrastructure projects, and since 2020, it has erected over 2000 Critical Care beds. Its client base spans all of India and includes private hospitals, government hospitals, AIIMS, medical professionals, diagnostic institutions, and more. With a project value of ₹31.43 crores, the company successfully established, built, and commissioned 175 dialysis facilities at government-run hospitals throughout Rajasthan in FY-23.

As per the red herring prospectus (RHP), there are no listed companies in India that engage in a business similar to that of their company.

The business generates ₹65.62 crores in revenue from operations, with margins of 5.30% PAT and 10.07% EBITDA. For the fiscal year 2024, 71% of revenue came from healthcare infrastructure projects.

Aprameya Engineering IPO details

The Aprameya Engineering IPO, valued ₹29.23 crore, includes a fresh issuance of 5,040,000 equity shares with a face value of ₹10. There is no "offer for sale" component.

The business plans to use the issue proceeds for general corporate purposes and to fulfill incremental working capital requirements, including an increase in long-term working capital.

The registrar for the Aprameya Engineering IPO is Link Intime India Private Ltd, and the book running lead manager is Hem Securities Limited.

Aprameya Engineering IPO GMP today

Aprameya Engineering IPO GMP or grey market premium was ₹0, which meant shares were trading at their issue price of ₹58 with no premium or discount in the grey market according to investorgain.com

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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