Aakaar Medical Technologies IPO receives 63% subscription applications by Day 2

Mumbai, 23 June 2025: The SME initial public offering (IPO) of Aakaar Medical Technologies Ltd saw a notable rise in investor participation on the second day of bidding, with total subscription reaching 63%. Aakaar Medical Technologies IPO garnered 16.78 lakh bids against the total issue size of 26.83 lakh equity shares, indicating a build-up in investor interest as the offer progresses towards its close.

Retail Individual Investors (RIIs) accounted for applications for 9.84 lakh shares through 615 applications. Of these,  6.38 lakh shares were bid at the cut-off price.

Category-Wise Subscription Data (as of 23 June 2025, 15:58 IST)

Qualified Institutional Buyers (QIBs)

• FIIs bid for: 2.38 lakh shares
• Total QIB applications: 1

Non-Institutional Investors (NIIs)

• Corporates: 1.88 lakh shares
• High-net-worth individuals (non-retail): 2.67 lakh shares
• Total NII applications: 34

Retail Individual Investors (RIIs)

• Total RII bids: 9.84 lakh shares
• Cut-off price bids: 6.38 lakh shares
• Price bids: 3.45 lakh shares

Demand Trends by Price Band

The price-wise demand data shows concentrated interest in the ₹68–₹72 range, with all 16.78 lakh bids submitted at or above ₹68 per share. The clear skew towards the upper price band suggests investor optimism around the company’s valuation.

IPO Structure and Listing Plans

The public issue comprises a fresh issuance of 37.5 lakh equity shares, aiming to raise approximately ₹27 crore. The IPO is scheduled to close on 24 June 2025, and the company is set to debut on the NSE Emerge platform on 27 June 2025. Proceeds from the offer will be utilised for business expansion and general corporate purposes.

Outlook: Momentum Likely to Continue on Final Day

With retail participation gathering pace and price discovery favouring the upper range, the IPO may see full subscription by the end of Day 3. Analysts will be watching institutional activity closely on the final day to gauge broader sentiment ahead of listing.

Stay tuned for final subscription figures and listing updates on 27 June.

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