11-Aug-2023
2 mins read
Mumbai’s Aeroflex Industries, a subsidiary of Sat Industries, has submitted a draft red herring prospectus (DRHP) to SEBI. The company aims to raise Rs 350 Crore via an initial public offering. The IPO comprises a fresh issue of equity shares worth Rs 160 crores and an offer-for-sale (OFS) of up to 17.5 million equity shares by promoters selling shareholders and promoter groups. The open date for subscription will be Aug 21, 2023, and the close date will be Aug 23, 2023. The price band is between ₹102 to ₹108 per share. The offering is being conducted using the Book Building Process.
Aeroflex Industries Limited Company Profile
Aeroflex Industries Limited, founded in 1993 and formerly known as Suyog Intermediates Private Limited, is engaged in producing and distributing environmentally friendly metallic flexible flow solution items. The company’s assortment of products encompasses a wide range, such as braided hoses, unbraided hoses, solar hoses, gas hoses, vacuum hoses, braiding, interlock hoses, hose assemblies, lancing hose assemblies, jacketed hose assemblies, exhaust connectors, exhaust gas recirculation (EGR) tubes, expansion bellows, compensators, and associated end fittings. As of March 31, 2023, the company boasts a product portfolio comprising over 1,700 distinct Product SKUs (Stock Keeping Units). The company exports its products to more than 80 countries, including Europe, the US & others and generates 80 per cent of its revenue from exports.
Financials of Aeroflex Industries Limited IPO (In Rs Crore)
| Period Ended | 31-Mar-20 | 31-Mar-21 | 31-Mar-22 | 31-Mar-23 |
| Assets | 157.19 | 161.64 | 183.44 | 213.98 |
| Revenue | 144.94 | 144.84 | 240.99 | 269.48 |
| Profit After Tax | 4.69 | 6.01 | 27.51 | 30.15 |
| Net Worth | 52.7 | 58.72 | 86.22 | 114.09 |
| Total Borrowing | 63.46 | 53.07 | 39.13 | 45.01 |
Important Dates for Aeroflex Industries Limited IPO
| IPO Date | Aug 21, 2023, to Aug 23, 2023 |
| Listing Date | Thursday, 31 August 2023 |
| Face Value | Rs 2 per share |
| Price | Rs 102 to Rs 108 per share |
| Lot Size | 130 Shares |
| Fresh Issue | Rs 160.00 Cr |
| Offer for Sale | 12,300,000 shares of Rs 2 |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Objectives of the Aeroflex Industries Limited IPO
The company has outlined its plans to allocate the net proceeds from the issue for the following purposes:
- Complete or partial repayment and/or prepayment of specific outstanding secured borrowings, including potential foreclosure charges, if applicable, that the company has availed.
- The company aims to address its working capital requirements by providing funding in this domain.
- The allocated funds will also cater to general corporate requirements that contribute to bolstering the overall operations of the company.
- The company plans to allocate resources towards unidentified inorganic acquisitions. These allocations could potentially facilitate expansion through acquisitions, although the specific acquisitions have not been specified yet.
Promoters of the Aeroflex Industries Limited IPO
SAT INDUSTRIES LIMITED are the promoter of the company.
Lead Managers of Aeroflex Industries Limited IPO
The lead managers of the company are Pantomath Capital Advisors Pvt Ltd.
How to Apply for The Aeroflex Industries Limited IPO?
Wait for the public issue to open for subscription, then click on this link to apply for Aeroflex Industries Limited IPO with Bigul https://ipo.bonanzaonline.com/.
How to Check the Allotment Status of The Pyramid Technoplast IPO?
The registrar for Aeroflex Industries Limited IPO is Link Intime India Private Ltd. To check your allotment status, please click on this link https://linkintime.co.in/mipo/ipoallotment.html
FAQs for Aeroflex Industries Limited IPO:
- What is the IPO date for Aeroflex Industries Limited?
The IPO subscription period is from August 21, 2023, to August 23, 2023.
- When is the listing date for Aeroflex Industries Limited?
The company is expected to be listed on Thursday, August 31, 2023.
- What is the face value of the shares offered?
The face value of each share is Rs 2.
- What is the total issue size of the IPO?
The total issue size includes a Fresh Issue of Rs 160.00 crore and an Offer for Sale of 12,300,000 shares face value of Rs 2.
- Who are the promoters of Aeroflex Industries Limited?
The promoter of the company is SAT Industries Limited.
- Who are the lead managers for the Aeroflex Industries Limited IPO?
The lead manager for the IPO is Pantomath Capital Advisors Pvt Ltd.