Facade systems player Aesthetik Engineers’ Rs.27-Cr IPO subscribed 705x

The INR 27 crore SME IPO of Aesthetik Engineers was subscribed over 705 times at close. The IPO is entirely a fresh equity sale of 45.64 lakh shares.The retail quota received a 461.58 times subscription, while the non-institutional investors category got a 1,933.96 times subscription. The QIB (qualified institutional buyers) category got 207.31 times subscription. The IPO’s price band was fixed at INR 55-Rs 58 apiece.The net proceeds from the public offer will be used for funding working capital requirements and capital expenditure.The company is engaged in the business of designing, engineering, fabrication and installation of facade systems. Its portfolio includes building facades, Aluminium Doors and Windows, Railing and Staircase and Glassfibre Reinforced Concrete (GRC).