Aztec Fluids & Machinery IPO Opens at Rs 63-67/Share

New Delhi, May 9 (PTI) Aztec Fluids & Machinery on Thursday said its initial public offering (IPO) will hit the capital market on Friday with an aim to raise over Rs 24 crore.

The initial public offering (IPO) of the company will open on Friday and end on May 14. The shares of the company will be listed on the BSE's SME platform, the company said in a statement.

The Ahmedabad-based company has fixed the price band of its IPO at Rs 63-67 apiece.

The public offer is only a fresh issue of up to 36 lakh equity shares with no offer for sale component, according to the red herring prospectus (RHP).

Proceeds from the fresh issue will be utilised by the company towards funding of the proposed acquisition of stake in Jet Inks Private Limited, pare debt availed by the company and general corporate purposes.

Investors can bid for a minimum of 2,000 equity shares and in multiples thereof.

Hem Securities is the book running lead manager, while Bigshare Services is the registrar for the issue.

Established in 2011, Aztec Fluids & Machinery Ltd provides a quality-assured assortment of printers, printer consumables, and printer spares to a diverse range of industries.