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Experienced investor Ashish Kacholia has made more than 100% profit on one of his bets in just three months. Ashish Kacholia made this investment in Aeroflex Industries. Kacholia has made huge profits due to Aeroflex Industries’ brilliant IPO entry in the stock market. Shares of Aeroflex Industries on Thursday traded at a premium of 83 per cent to Rs. was listed at 197.40. The issue price of shares in IPO is Rs. was 108.
Kacholia bought over 23 lakh shares of Aeroflex
Ahead of Aeroflex Industries’ IPO, veteran investor Ashish Kacholia bought a 2.03% stake or 23.15 lakh shares in the company. Kacholia bought the stake at Rs 87.56 per share. Kacholia bought a stake in Aeroflex Industries for Rs. 20.27 crore had been invested.
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Kacholia’s investment is worth more than 45 crores
After the listing of shares of Aeroflex Industries, the value of Kacholia’s investment increased to Rs. 45 crore has been exceeded. Kacholia did not participate in the offer for sale (OFS) of the issue and still holds 2.03 per cent shares of the company. In IPO Rs. 160 crore of new equity and OFS of 17.5 million shares were involved. SAT Industries has sold 1.75 crore shares under the offer for sale. Besides Kacholia, Bengal Finance also bought a 2.03% stake in Aeroflex Industries ahead of the IPO. Bengal Finance has also benefited greatly.
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Disclaimer: Information about stock performance is provided here only, not investment advice. Investment in stock market is subject to risk and please consult your advisor before investing.