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The company said it has generated close to Rs 104 crore from anchor investors ahead of Monday’s IPO.
The company’s equity shares are proposed to be listed on the BSE and NSE.
Here’s all you need to know about the IPO
Ipo commencement
The Initial public offering (IPO) will open for subscription on August 22(today) and conclude on August 24(thursday).
Price brand
The price band has been fixed at Rs 102-108 per share. The company intends to raise Rs 340.5 crore at the lower end and Rs 351 crore at the upper price band.
Offers
The IPO cotains a fresh issue of equity shares worth up to Rs 162 crore and an Offer for Sale (OFS) of up to 1.75 crore equity shares by promoter body Sat Industries.
Investors
Some of the anchor investors are Societe Generale, Winro Commercial India Fund Ltd, Universal Sompo General Insurance Company Ltd, Nippon India Mutual Fund, WhiteOak Mutual Fund, Bank of India Mutual Fund and Invesco Mutual Fund.
Allocation
A circuar uploaded on the BSE website said that the company has decided to allocate 95.99 lakh equity shares to 15 funds at Rs 108 apiece, which is also the upper end of the price band.
Bidding size
Investors can bid for a minimum of 130 equity shares and in multiples of 130 equity shares thereafter.
About Aeroflex
The Mumbai-based company manufactures and supplies environment-friendly
metallic flexible flow solution products.
It also exports its products to more than 80 countries, including Europe and US, and generates 80 per cent of its revenue from foreign markets. It catered to over 50 countries in FY23.
For fiscal 2023, the company generated consolidated revenue from operations of Rs 269.4 crore, and profit after tax (PAT) was Rs 30.1 crore.
Currently, promoter and promoter group members own over 91 per cent of the stake in the company.
Proceeds from the fresh issue will be utilised for payment of a debt, and funding working capital requirements, and a certain amount will be used for general corporate purposes and acquisitions for inorganic growth.
Pantomath Capital Advisors is the sole book-running lead manager to the issue.
(With inputs from agencies)
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