Aeroflex Industries is into Industrial Iron & Steel flexible flow solutions manufacturing and is looking raise funds through Fresh Issue and Offer for Sale
Aeroflex Industries IPO Update:
Aeroflex Industries Limited IPO: Navi Mumbai based Aeroflex Industries Limited established in the year 1993 and is into Industrial - Iron & Steel flexible flow solutions manufacturing sector.
Company is promoted by Sat Industries Limited. Pre-Offer Promoter and Promoter group stake in the company is 91.09%.
Aeroflex Industries Limited has filed Red Herring Prospectus (RHP) for proposed initial public offer (IPO). Total issue size is INR 351 Crores calculated on upper price band (face value of INR 2 per share) via initial public offering.
Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 160 crores and an Offer for Sale up to 175,00,000 Equity Shares. Pantomath Capital Advisors have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime India Pvt. Ltd. as Registrar and Share transfer Agent.
Details about upcoming IPO:
As per the details available in RHP, Price band is Rs 102 to Rs 108 with lot size of 130 shares and in multiples thereof. Objects of the issue is 1) Full or part repayment and/or prepayment of certain outstanding secured borrowings (including foreclosure charges, if any amounting to Rs. 35 crores, 2) Funding working capital requirements of Company amounting to Rs 84 crores, and 3) General corporate purposesand unidentified inorganic acquisitions.
IPO Dates:
IPO will open on August 22, 2023 and close on August 22, 2023. Tentative date of listing on stock exchanges is September 01, 2023
About Industry:
Traditionally, the demand for Flexible Flow Solutions made with Stainless Steel Corrugation was largely driven by the industrial sector – manufacturing plants and manufacturing products from chemicals to paper. HVAC applications too were a major consumer, although the scale of business generated by this segment was lower compared to its industrial counterpart. The steady growth inindustrial activity amidst some disruption along with the slow but steady transition from rubber/PTFE/polymer flexible hoses have resulted in a favorable demand landscape for Flexible Flow Solutions made with Stainless Steel Corrugation manufacturers.(Source:D&B Report)
Want to know more details about the IPO, please visit here Aeroflex Industries Limited
Source: SEBI, BSE, NSE, DRHP, Aeroflex Industries, Industry Data
Disclaimer: Above article only publishes details about the IPO and for educational purpose only. It doesn't solicit or invite any interest to invest in any kind of securities. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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