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Aeron Composite IPO is a book build issue of ₹56.10 crores. The issue is entirely a fresh issue of 0.45 crore shares of ₹56.10 crore.
Aeron Composite IPO bidding started from Aug 28, 2024 and ended on Aug 30, 2024. The allotment for Aeron Composite IPO was finalized on Sep 2, 2024. The shares got listed on NSE SME on Sep 4, 2024.
Aeron Composite IPO price band is set at ₹125.00 per share . The lot size for an application is 1,000. The minimum amount of investment required by an retail is ₹1,21,000 (1000 shares). The minimum lot size investment for HNI is 2 lots (2,000 shares), amounting to ₹2,50,000.
The issue includes a reservation of up to 2,10,000 shares for employees offered at a discount of ₹0.00 to the issue price.
Hem Securities Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The market maker of the company is Hem Finlease Pvt.Ltd..
Refer to Aeron Composite IPO RHP for detailed Information.
| IPO Date | August 28, 2024 to August 30, 2024 |
| Listing Date | September 4, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹121 to ₹125 per share |
| Issue Price Final | ₹125 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 44,88,000 shares (aggregating up to ₹56.10 Cr) |
| Reserved for Market Maker | 2,28,000 shares Hem Finlease Pvt.Ltd. (aggregating up to ₹2.85 Cr) |
| Net Offered to Public | 42,60,000 shares (aggregating up to ₹53.25 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,25,32,000 shares |
| Share Holding Post Issue | 1,70,20,000 shares |
Aeron Composite IPO offers total 44,88,000 shares. Out of which 20,24,000 (45.10%) allocated to QIB, 8,10,000 (18.05%) allocated to QIB, 6,08,000 (13.55%) allocated to NII, 14,18,000 (31.60%) allocated to RII and 12,14,000 (27.05%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,28,000 (5.08%) |
| QIB Shares Offered | 20,24,000 (45.10%) |
| − Anchor Investor Shares Offered | 12,14,000 (27.05%) |
| − QIB (Ex. Anchor) Shares Offered | 8,10,000 (18.05%) |
| NII (HNI) Shares Offered | 6,08,000 (13.55%) |
| Retail Shares Offered | 14,18,000 (31.60%) |
| Employee Shares Offered | 2,10,000 (4.68%) |
| Total Shares Offered | 44,88,000 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only NII | Above Rs 2 Lakhs | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Aeron Composite IPO raises ₹15.18 crore from anchor investors. Aeron Composite IPO Anchor bid date is August 27, 2024. Aeron Composite IPO Anchor Investors list
| Bid Date | August 27, 2024 |
| Shares Offered | 12,14,000 |
| Anchor Portion Size (In Cr.) | 15.18 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 2, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 1, 2024 |
Aeron Composite IPO opens on August 28, 2024, and closes on August 30, 2024.
| IPO Open Date | Wed, Aug 28, 2024 |
| IPO Close Date | Fri, Aug 30, 2024 |
| Tentative Allotment | Mon, Sep 2, 2024 |
| Initiation of Refunds | Tue, Sep 3, 2024 |
| Credit of Shares to Demat | Tue, Sep 3, 2024 |
| Tentative Listing Date | Wed, Sep 4, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Aug 30, 2024 |
Investors can bid for a minimum of 1,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,000 | ₹1,25,000 |
| Retail (Max) | 1 | 1,000 | ₹1,25,000 |
| HNI (Min) | 2 | 2,000 | ₹2,50,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Aeron Composite Limited was established in 2011 and is engaged in the manufacture and supply of glass fibre reinforced polymer products i.e. FRP products including FRP Pultruded Products, FRP Moulded Gratings & FRP Rods tailored for various industrial applications.
The company offers comprehensive solutions that include conceptual design, prototype development, testing, manufacturing, logistical support, installation and after-sales service.
The company's manufacturing facility is located in Saket Industrial Estate and is spread over 26320 square metres. The manufacturing facility is ISO 9001:2015 certified for the design, manufacture and supply of FRP pultruded products, FRP Handrails, FRP cable trays, FRP fencing, FRP moulded gratings, FRP Cross arm, FRP poles, FRP rods and moulded mounting structures for solar panels (MMS).
As of July 31,2024, the company employed 433 people at various levels of the organisation.
| Period Ended | 29 Feb 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 9,979.42 | 6,910.21 | 6,063.23 | 4,360.19 |
| Total Income | 18,080.35 | 18,199.26 | 10,992.5 | 7,906.12 |
| Profit After Tax | 942.23 | 661.15 | 362.12 | 255.3 |
| Net Worth | 3,478.19 | 2,535.96 | 1,557.35 | 1,208.23 |
| Reserves and Surplus | 3,321.54 | 2,379.31 | 1,427.35 | 1,078.23 |
| Total Borrowing | 1,208.23 | 1,399.62 | 1,255.54 | 1,042.7 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Aeron Composite IPO is ₹212.75 Cr.
KPI as of Thu, Feb 29, 2024.
| KPI | Values |
|---|---|
| ROE | 31.33 |
| ROCE | 29.67 |
| Debt/Equity | 0.35 |
| RoNW | 27.09 |
| PAT Margin | 5.26% |
| Price to Book Value | 4.50 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 5.28 | 6.04 |
| P/E (x) | 23.69 | 20.7 |
The company intends to use the net proceeds from the issue towards the following objectives:
[Dilip Davda] The company is engaged in FRP and MMS related products and has posted growth in its top and bottom lines for the reported periods. It is operating in a competitive and fragmented segment. Based on annualized FY24 earnings, the issue appears relatively fully priced. Well-informed investors may park moderate funds for long term. Read detail review...
| Listing Date | September 4, 2024 |
| BSE Script Code | |
| NSE Symbol | AERON |
| ISIN | INE0WL801011 |
| Final Issue Price | ₹125 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹125.00 |
| Open | ₹150.00 |
| Low | ₹150.00 |
| High | ₹157.50 |
| Last Trade | ₹157.50 |
Aeron Composite Ltd.
Saket Ind. Estate, Plot No. 30/31,
Sarkhej Bavla Highway, Village Moraiya,
Changodar, Ahmedabad - 382213
Ahmedabad, Gujarat
Phone: +91 9909988266
Email: cs@aeroncomposite.com
Website: https://www.aeroncomposite.com/
Maashitla Securities Pvt.Ltd.
Phone: +91-11-45121795-96
Email: investor.ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues
Aeron Composite IPO is a SME IPO of 44,88,000 equity shares of the face value of ₹10 aggregating up to ₹56.10 Crores. The issue is priced at ₹125 per share. The minimum order quantity is 1000.
The IPO opens on August 28, 2024, and closes on August 30, 2024.
Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Aeron Composite IPO using UPI as a payment gateway. Zerodha customers can apply in Aeron Composite IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Aeron Composite IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Aeron Composite IPO opens on August 28, 2024 and closes on August 30, 2024.
Aeron Composite IPO lot size is 1000, and the minimum amount required for application is ₹1,25,000.
You can apply in Aeron Composite 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 Aeron Composite IPO will be done on Monday, September 2, 2024, and the allotted shares will be credited to your demat account by Tuesday, September 3, 2024. Check the Aeron Composite IPO allotment status.
The Aeron Composite IPO listing date is on Wednesday, September 4, 2024.
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