The Economic Times daily newspaper is available online now.

    Aztec Fluids and Machinery stock debuts at 34% premium on BSE SME platform

    Synopsis

    Aztec Fluids and Machinery debuts on BSE SME platform at Rs 90, 34.3% premium over issue price. IPO oversubscribed over 200 times. Company offers coding and marking solutions across various industries.

    Aztec Fluids and Machinery stock debuts at 34% premium on BSE SME platformShutterstock.com
    Shares of Aztec Fluids and Machinery listed on the BSE SME platform on Friday at a premium of 34.3%. The stock debuted at Rs 90 as against an issue price of Rs 67 apiece.

    Ahead of the listing, the company's shares traded with a premium of Rs 50 in the unlisted market.

    The IPO, which was completely fresh equity issue of 36 lakh shares, received a healthy response from investors with an overall subscription of over 200 times at close.

    The net proceeds from the public offer will be used to fund the proposed acquisition of equity shares held by Jet Inks, repayment of debt, and other general corporate purposes.

    Also Read: HOAC Foods IPO opens today: Check issue size, price band, GMP and other details

    Founded in 2010, the company provides coding and marking solutions to a diverse range of industries such as personal care, food and beverages, pharmaceuticals, construction materials, cables, wires and pipes, metals, automotive & electronics, agrochemicals, chemicals and petrochemicals etc.

    Its product portfolio includes printers such as continuous inkjet printers, thermal transfer over printers (TTO), drop on demand printers (DOD), NIJ printers and laser printers, printer inks and printer consumable items.

    Since 2015, the company has been an exclusive distributor of Lead Tech (Zhuhai) Electronic Co, China for CIJ printers, TTO printers and a range of associated equipment.

    As of filing of RHP, Aztec Fluids owns two registered patents on the cartridge design in which the inks and makeup are filled. The cartridges are purchased by the company from a local manufacturer and in order to shield from the risks associated with counterfeit products, the company embeds a PCB chipset on each cartridge for identification purposes.

    For the period ended December 2023, the company clocked revenues of Rs 50.92 crore and net profit of Rs 4.90 crore.

    Hem Securities acted as the lead manager to the issue and Bigshare Services India was the registrar.


    (You can now subscribe to our ETMarkets WhatsApp channel)

    (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more

    (You can now subscribe to our ETMarkets WhatsApp channel)

    (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in