IPO Issue Details
Issue Price / Price Band₹108 per share (Fixed Price)
Face Value₹2 Per Share
Lot Size130 Shares per Lot
Total Issue Size3,25,00,000 shares (aggregating up to ₹351.00 Cr)
Issue TypeBookbuilding IPO
Sale Type / CategoryFresh Capital-cum-Offer for Sale
Exchange / PlatformNSE & BSE
IPO TypeMainboard
Subscription OpenTue, 22 Aug 2023
Subscription CloseThu, 24 Aug 2023
Anchor AllotmentMon, 21 Aug 2023
Basis of AllotmentTue, 29 Aug 2023
Initiation of RefundsWed, 30 Aug 2023
Credit of Shares to DematThu, 31 Aug 2023
Listing DateThu, 31 Aug 2023
UPI Mandate Deadline2023-08-24
Application & Investment Details
Retail — Min (1 Lots)₹14,040 — 130 shares
Retail — Max (13 Lots)₹182,520 (13 Lots)
HNI — Min (15 Lots)₹2,10,600 — 1,950 shares
EPS (Pre-IPO)₹2.64
P/E Ratio (Pre-IPO)40.91x
Post-IPO Promoter Holding12,93,20,370 shares
Fresh Issue Shares1,50,00,000 shares (aggregating up to ₹162.00 Cr)
Offer for Sale Shares1,75,00,000 shares of ₹2 (aggregating up to ₹189.00 Cr)
About Aeroflex Industries Ltd.
Incorporated in 1993, Aeroflex Industries Limited, previously known as Suyog Intermediates Private Limited, manufactures and supplies environment-friendly metallic flexible flow solution products.The company's product list includes 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 related end fittings. As on March 31, 2023, the company recorded more than 1,700 Product SKUs (Stock Keeping Units) in its product portfolio.Aeroflex Industries' manufacturing facility is located at Taloja, Navi Mumbai, Maharashtra, and is spread across 3,59,528 square feet of area. The facility is certified with Annex III, Module H of Directive 97/23/EC on Pressure Equipment, Management System as per ISO 9001:2015, Environmental Management System-ISO 14001:2015, ISO 45001:2015 (Occupational Health & Safety), Testing Certificate-Gas Hoses-1/2" NB Hose Assembly, NABL ISO /IEC 17025:2017, Statement of 153 Conformity for design, manufacturing, and testing of SS corrugated flexible Hose Assembly, Statement of Conformity for Quality Procedures applied standard EN ISO 10380:2012 and BS 6501-1 (E:2004), Certificate of Design Assessment required for quality management systems, environmental management systems, health and safety management systems.The company's clientele includes distributors, fabricators, Maintenance Repair and Operations Companies (MROs), Original Equipment Manufacturers (OEMs), and companies operating in a wide range of industries.Aeroflex recorded Rs. 2694.78 Lakhs in total revenue in Fiscal 2023 and Rs. 2409.92 Million in Fiscal 2022.
Objects of the Issue
Aeroflex Industries Ltd. proposes to utilise the net proceeds from the Issue for the following objects:
1
1 Full or part repayment and/or prepayment of certain outstanding secured borrowings (including foreclosure charges, if any) availed by the Company
32.00
2
2 Funding working capital requirements of the Company
84.00
3
3 General corporate purposes and Unidentified Inorganic Acquisitions
15.53
Shareholding & Lock-in
Pre-IPO Promoter Holding
Not Available
Post-IPO Promoter Holding
12,93,20,370 shares
Lock-in Period (30%)September 28, 2023
Lock-in Period (50%)November 27, 2023