Bookbuilding IPO | ₹56 Cr | Listed at NSE SME | Wed, Aug 28, 2024 - Fri, Aug 30, 2024
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 per share. The lot size for an application is 1,000. The minimum amount of investment required by an retail is ₹1,25,000 (1000 shares) (based on upper price). The minimum lot size for investment in 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 Open
Wed, Aug 28, 2024
IPO Close
Fri, Aug 30, 2024
Issue Price
₹125 per share
Market Cap (Pre-IPO)
₹212.75 Cr
| IPO Date | 28 to 30 Aug, 2024 |
| Listed on | Wed, Sep 4, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹121 to ₹125 |
| Issue Price | ₹125 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 44,88,000 shares (agg. up to ₹56 Cr) |
| Reserved for Market Maker | 2,28,000 shares Hem Finlease Pvt.Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 42,60,000 shares (agg. up to ₹53 Cr) |
| Net Offered to Public | 42,60,000 shares (agg. up to ₹53 Cr) |
| Share Holding Pre Issue | 1,25,32,000 shares |
| Share Holding Post Issue | 1,70,20,000 shares |
| NSE Symbol | AERON |
| ISIN | INE0WL801011 |
Aeron Composite IPO comprises a total issue size of 44,88,000 shares. The net offer to the public is 40,50,000 shares, after excluding 2,28,000 shares allotted on a firm basis and 2,10,000 shares under a preferential allotment. Of the Net offer 20,24,000 (49.98%) are allocated to QIB, 6,08,000 (15.01%) allocated to NII 14,18,000 (35.01%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 20,24,000 | 49.98% | 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 | 15.01% | 13.55% |
| Retail Shares Offered | 14,18,000 | 35.01% | 31.60% |
| Preferential Reservations | |||
| Employee Shares Offered | 2,10,000 | 4.68% | |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,28,000 | 5.08% | |
| Total Shares Offered | 44,88,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,000 shares and in multiples thereof.
| 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 |
Aeron Composite IPO raises ₹15.18 crore from anchor investors. Aeron Composite IPO Anchor bid date is August 27, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Aug 27, 2024 |
| Shares Offered | 12,14,000 |
| Anchor Portion (₹ Cr.) | 15.18 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Oct 2, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Dec 1, 2024 |
| 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 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 | 99.79 | 69.10 | 60.63 | 43.60 |
| Total Income | 180.80 | 181.99 | 109.93 | 79.06 |
| Profit After Tax | 9.42 | 6.61 | 3.62 | 2.55 |
| NET Worth | 34.78 | 25.36 | 15.57 | 12.08 |
| Reserves and Surplus | 33.22 | 23.79 | 14.27 | 10.78 |
| Total Borrowing | 12.08 | 14.00 | 12.56 | 10.43 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the Capital Expenditure requirements towards setting up of an additional manufacturing unit | 39.04 |
| 2 | General Corporate Purpose | 13.93 |
| KPI | Feb 29, 2024 |
|---|---|
| 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 (₹) | 5.28 | 6.04 |
| P/E (x) | 23.69 | 20.7 |
| Promoter Holding | 100% | 73.63% |
| Market Cap | ₹212.75 Cr. |
The Aeron Composite IPO is subscribed 41.07 times on August 30, 2024 6:19:59 PM (Day 3). The public issue subscribed 33.77 times in the retail category, 27.82 times in the QIB category, and 75.53 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 27.82 | 8,10,000 | 2,25,31,000 |
| NII* | 75.53 | 6,08,000 | 4,59,20,000 |
| Retail | 33.77 | 14,18,000 | 4,78,89,000 |
| Total | 41.07 | 28,36,000 | 11,64,62,000 |
Total Application : 47,889
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manger Fees | 0.27 |
| 2 | Fees Payable to Registrar to the Issue | 0.02 |
| 3 | Fees Payable for Advertising and Publishing Expenses | 0.10 |
| 4 | Fees Payable to Regulators including Stock Exchanges | 0.07 |
| 5 | Payment for Printing & Stationery, Postage, etc. | 0.02 |
| 6 | Fees Payable to Legal Advisors and other Professionals | 0.02 |
| 7 | Others (Commission/processing fee for SCSBs, Sponsor Bank and Banker(s) to the Issue and brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs and Miscellaneous Expenses) | 2.64 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹125.00 |
| Open | ₹150.00 |
| Low | ₹150.00 |
| High | ₹157.50 |
| Last Trade | ₹157.50 |
Lead Manager Reports
Aeron Composite IPO is a SME IPO of 44,88,000 equity shares of the face value of ₹10 aggregating up to ₹56 Crores. The issue is priced at ₹125 per share. The minimum order quantity is 1000.
The IPO opens on Wed, Aug 28, 2024, and closes on Fri, Aug 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 Wed, Aug 28, 2024 and closes on Fri, Aug 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 Tue, Sep 3, 2024. Check the Aeron Composite IPO allotment status.
The Aeron Composite IPO listing date is on Wed, Sep 4, 2024.
