Bookbuilding IPO | ₹351 Cr | Listed at BSE, NSE | Tue, Aug 22, 2023 - Thu, Aug 24, 2023
Aeroflex Industries IPO is a book build issue of ₹351.00 crores. The issue is a combination of fresh issue of 1.50 crore shares aggregating to ₹162.00 crores and offer for sale of 1.75 crore shares aggregating to ₹189.00 crores.
Aeroflex Industries IPO bidding started from Aug 22, 2023 and ended on Aug 24, 2023. The allotment for Aeroflex Industries IPO was finalized on Aug 29, 2023. The shares got listed on BSE, NSE on Aug 31, 2023.
Aeroflex Industries IPO price band is set at ₹108 per share. The lot size for an application is 130. The minimum amount of investment required by an retail is ₹14,040 (130 shares) (based on upper price). The lot size investment for sNII is 15 lots (1,950 shares), amounting to ₹2,10,600, and for bNII, it is 72 lots (9,360 shares), amounting to ₹10,10,880.
Pantomath Capital Advisors Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Aeroflex Industries IPO RHP for detailed Information.
IPO Open
Tue, Aug 22, 2023
IPO Close
Thu, Aug 24, 2023
Issue Price
₹108 per share
Market Cap (Pre-IPO)
To be declared
| IPO Date | 22 to 24 Aug, 2023 |
| Listed on | Thu, Aug 31, 2023 |
| Face Value | ₹2 per share |
| Price Band | ₹102 to ₹108 |
| Issue Price | ₹108 per share |
| Lot Size | 130 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 3,25,00,000 shares (agg. up to ₹351 Cr) |
| Fresh Issue | 1,50,00,000 shares (agg. up to ₹162 Cr) |
| Offer for Sale | 1,75,00,000 shares of ₹2 (agg. up to ₹189 Cr) |
| Share Holding Post Issue | 12,93,20,370 shares |
| BSE Script Code / NSE Symbol | 543972 / AEROFLEX |
| ISIN | INE024001021 |
Aeroflex Industries IPO offers total 3,25,00,000 shares. Out of which 1,60,00,000 (49.23%) allocated to QIB, 64,00,020 (19.69%) allocated to QIB (Ex- Anchor), 48,00,000 (14.77%) allocated to NII 1,12,00,000 (34.46%) allocated to RII and 95,99,980 (29.54%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,60,00,000 (49.23%) | NA |
| − Anchor Investor Shares Offered | 95,99,980 (29.54%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 64,00,020 (19.69%) | NA |
| NII (HNI) Shares Offered | 48,00,000 (14.77%) | NA |
| − bNII > ₹10L | 32,00,000 (9.85%) | 1,641 |
| − sNII < ₹10L | 16,00,000 (4.92%) | 820 |
| Retail Shares Offered | 1,12,00,000 (34.46%) | 86,153 |
| Shareholders Shares Offered | 5,00,000 (1.54%) | NA |
| Total Shares Offered | 3,25,00,000 (100.00%) |
Investors can bid for a minimum of 130 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 130 | ₹14,040 |
| Retail (Max) | 14 | 1,820 | ₹1,96,560 |
| S-HNI (Min) | 15 | 1,950 | ₹2,10,600 |
| S-HNI (Max) | 71 | 9,230 | ₹9,96,840 |
| B-HNI (Min) | 72 | 9,360 | ₹10,10,880 |
Aeroflex Industries IPO raises ₹103.68 crore from anchor investors. Aeroflex Industries IPO Anchor bid date is August 21, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Aug 21, 2023 |
| Shares Offered | 95,99,980 |
| Anchor Portion (₹ Cr.) | 103.68 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Sep 28, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Nov 27, 2023 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only shareholder | Up to Rs 2 Lakhs | Yes |
| Shareholder + RII/NII |
|
Yes for shareholder/RII |
Note: To be eligible for the Shareholder Quota, you must hold shares in one of the following companies:
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.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 213.98 | 183.44 | 161.64 | 157.19 |
| Total Income | 269.48 | 240.99 | 144.84 | 144.94 |
| Profit After Tax | 30.15 | 27.51 | 6.01 | 4.69 |
| NET Worth | 114.09 | 86.22 | 58.72 | 52.70 |
| Total Borrowing | 45.01 | 39.13 | 53.07 | 63.46 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 | Funding working capital requirements of the Company | 84.00 |
| 3 | General corporate purposes and Unidentified Inorganic Acquisitions | 15.53 |
| KPI | |
|---|---|
| ROE | 26.43% |
| ROCE | 31.96% |
| Debt/Equity | 0.39 |
| RoNW | 26.43% |
| PAT Margin | 11.19% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.64 | |
| P/E (x) | 40.91 | |
| Promoter Holding | 91.09% | 66.99% |
The Aeroflex Industries IPO is subscribed 97.11 times on August 24, 2023 7:02:00 PM (Day 3). The public issue subscribed 34.41 times in the retail category, 194.73 times in the QIB category, and 126.13 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 194.73 | 62,76,490 | 1,22,22,31,140 |
| NII | 126.13 | 49,32,353 | 62,21,37,100 |
| bNII (bids above ₹10L) | 125.8 | 32,88,236 | 41,36,63,510 |
| sNII (bids below ₹10L) | 126.8 | 16,44,117 | 20,84,73,590 |
| Retail | 34.41 | 1,15,08,824 | 39,60,17,830 |
| Others | 28.52 | 5,00,000 | 1,42,60,870 |
| Total | 97.11 | 2,32,17,667 | 2,25,46,46,940 |
Total Application : 27,68,343
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to Lead Manager (inclusive of underwriting) | 16.51 |
| 2 | Selling commission/ syndicate fees | 2.77 |
| 3 | Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Offer, Brokerage underwriting and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs(1)(2)(3)(4) | 1.11 |
| 4 | Fees payable to the Registrar to the Offer | 0.48 |
| 5 | Fees payable to consultants | 0.34 |
| 6 | Others including but not limited to: (i) Listing fees, SEBI filing fees, upload fees, BSE and SE processing fees, book building software fees and other regulatory expenses; (ii) Printing and distribution of stationery; (iii) Advertising and marketing expenses; (iv) Fees payable to legal counsel; (v) Fees payable to other advisors to the Offer, including but not limited to Statutory Auditors, Independent Chartered Accountant, industry service provider and Independent Chartered Engineer; and (vi) Miscellaneous | 9.26 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹108.00 | ₹108.00 |
| Open | ₹197.40 | ₹190.00 |
| Low | ₹162.10 | ₹162.30 |
| High | ₹197.40 | ₹196.35 |
| Last Trade | ₹163.15 | ₹163.25 |
Lead Manager Reports
Aeroflex Industries IPO is a main-board IPO of 3,25,00,000 equity shares of the face value of ₹2 aggregating up to ₹351 Crores. The issue is priced at ₹108 per share. The minimum order quantity is 130.
The IPO opens on Tue, Aug 22, 2023, and closes on Thu, Aug 24, 2023.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Aeroflex Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Aeroflex Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Aeroflex Industries IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Aeroflex Industries IPO opens on Tue, Aug 22, 2023 and closes on Thu, Aug 24, 2023.
Aeroflex Industries IPO lot size is 130, and the minimum amount required for application is ₹14,040.
You can apply in Aeroflex Industries IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Aeroflex Industries IPO will be done on Tuesday, August 29, 2023, and the allotted shares will be credited to your demat account by Thu, Aug 31, 2023. Check the Aeroflex Industries IPO allotment status.
The Aeroflex Industries IPO listing date is on Thu, Aug 31, 2023.
