Aeroflex Industries was founded on October 19, 1993, initially operating under the name Suyog Intermediates. The company specializes in producing and distributing eco-friendly metallic flexible flow solution products, catering to both global and domestic markets.
| Bidding Dates |
|---|
| 22 Aug 2023 - 24 Aug 2023 |
| Subscription |
|---|
| 97.11x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,040 | 1 | 14 | 130 | 32.5 M | ₹102 - ₹108 | 74.87 % | ₹3315.0 M - ₹3510.0 M | RHP DOC |
Aeroflex Industries IPO SUBSCRIPTION STATUS
24 Aug '23Aeroflex Industries IPO overall subscription rate was 97.11 times the total available shares
Aeroflex Industries IPO retail subscription rate was 34.41 times in the retail segment
Aeroflex Industries IPO non-institutional investor subscription rate was 126.13 times in the non-institutional investor category
Aeroflex Industries IPO Qualified Institutional Bidder subscription rate was 194.73 times the available shares for Qualified Institutional Bidder
Aeroflex Industries IPO Reservation Portion Shareholder subscription rate was 28.52 times in the Reservation Portion Shareholder category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Reservation Portion Shareholder |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
24 Aug 2023 (Day 3) | 34.41x | 126.13x | 194.73x | 28.52x |
23 Aug 2023 (Day 2) | 17.78x | 46.42x | 8.05x | 11.46x |
22 Aug 2023 (Day 1) | 6.71x | 14.11x | 1.17x | 3.63x |
Aeroflex Industries FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY23 | 301.5 | 2,694.6 | 37.9 | -56.7 | 20.1% |
| FY22 | 275.1 | 2,408.0 | 320.6 | 186.8 | 19.4% |
| FY21 | 60.1 | 1,447.7 | 120.9 | 91.8 | 15.4% |
Aeroflex Industries IPO SUBSCRIPTION STATUS DETAILS
Aeroflex Industries had 32.5 M shares on offer
Aeroflex Industries IPO offer price was in the range ₹102 - ₹108
Aeroflex Industries IPO minimum Investment was ₹14040
Aeroflex Industries IPO issue size was ₹ 3315.0 M - ₹ 3510.0 M
Aeroflex Industries had a minimum lot size of 130 Shares per application
Aeroflex Industries NUMBER OF SHARES ON OFFER
Aeroflex Industries IPO IMPORTANT DATES
| Issue Open Date | 22 Aug 2023 |
| Issue close Date | 24 Aug 2023 |
| Allotment Date | 29 Aug 2023 |
| Refund Date | 30 Aug 2023 |
| Demat Account Credit Date | 31 Aug 2023 |
| Listing Date | 31 Aug 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Aeroflex Industries Allotment Status | Exchange |
Aeroflex Industries IPO subscription opened on 22 Aug 2023, and closed on 24 Aug 2023
IPO allotment for Aeroflex Industries was finalized on Tuesday, 29 Aug 2023
IPO listing for Aeroflex Industries was on NSE and BSE on Thursday, 31 Aug 2023
Aeroflex Industries IPO LISTING GAINS
| Issue Price (adjusted) | 108.0 |
| Listing Open Price | 190.0 |
| Listing Close Price | 163.3 |
| Listing Gain% | 75.9% |
| Current Gain% | 286.3% |
Aeroflex Industries Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Aeroflex Industries Ltd. | 417.2 | 5395.2 | 82.2 | 2 | 11 | 12.4 | 9.8 | 443.3 | 17 | 55.5 | 5.8 | 5.1 | 42.1 |
| APL Apollo Tubes Ltd. | 1984.6 | 55104.1 | 44.8 | 0.8 | 2.4 | 22.7 | 13.6 | 23190.8 | 11.6 | 1203.1 | 58.9 | 44.3 | 53.4 |
| Welspun Corp Ltd. | 1846.9 | 48719.5 | 21.1 | 1.4 | 2.8 | 17.6 | 7.9 | 16905.4 | 19.3 | 1613 | -15.5 | 87.5 | 14.9 |
| Usha Martin Ltd. | 520 | 15846.6 | 31.3 | 1.2 | 4.1 | 14.1 | 11.1 | 3759.9 | 7 | 466 | 14.4 | 16.6 | 25.4 |
| Vedanta Iron and Steel Ltd. | 37 | 14456.7 | 0 | -191.6 | 0 | 0 | -28.4 | ||||||
| Technocraft Industries (India) Ltd. | 2720 | 6167 | 21.6 | 1.9 | 2.2 | 14.1 | 8.8 | 2860.8 | 6.1 | 285.3 | 11.4 | 125.8 | 11.4 |
Aeroflex Industries INFORMATION ON IPO ISSUE
About Aeroflex Industries
Aeroflex Industries was founded on October 19, 1993, initially operating under the name Suyog Intermediates. The company specializes in producing and distributing eco-friendly metallic flexible flow solution products, catering to both global and domestic markets.
Object of the Issue
- Full or part repayment and/or prepayment of certain outstanding secured borrowings (including foreclosure charges, if any) availed by the company
- Funding working capital requirements of the company
- General corporate purposes and unidentified inorganic acquisitions
Aeroflex Industries - PROMOTERS
| Name |
|---|
| Sat Industries Limited |
Aeroflex Industries Book Running Lead Managers
Pantomath Capital Advisors Private Limited
ipo@pantomathgroup.com
Aeroflex Industries Registrar to the Offer
Link Intime India Private Limited
aeroflexindustries.ipo@linkintime.co.in
Aeroflex Industries Strengths
Huge addressable market
The company functions as a worldwide supplier of flexible flow solutions, catering to a broad addressable market and diverse industry segments. It is strategically positioned to leverage substantial industrial trends on a considerable scale
No listed peers
The company is a leading manufacturer of flexible flow solutions, focusing on Make-in-India initiatives for global markets. It stands unique, with advanced manufacturing facilities and robust R&D infrastructure, without any comparable listed peers
High entry and exit barriers
The company operates in an industry with high entry and exit barriers
Aeroflex Industries Risks
Dependent on exports
Over 80% of the company's revenue originates from its export operations. This reliance introduces the possibility of encountering significant import duties or restrictions within relevant jurisdictions
Negative cash flows
The company has observed negative cash flows from operations in recent times and may potentially encounter comparable negative cash flows in the future
Tax proceedings
The promoter is presently involved in a pending tax proceeding. Negative rulings from this situation might impact the company's cash flows and profit/loss results
IPO FAQs
This IPO consists of an offer for sale of up to Rs 189.0 crore, of 17,500,000 shares. It also consists of a fresh issue of Rs 162.0 crore.
The promoter of the company is Sat Industries Limited.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 102.0 - 108.0.
The IPO application opens on Aug 22, 2023 and closes on Aug 24, 2023.
The minimum lot size for the IPO is 130. The maximum lot size for the IPO is 1820.
For all category investors, the minimum application amount for this IPO is Rs. 14,040.0, the maximum value for this IPO is Rs 196,560.0.
This IPO will be allotted on Aug 29, 2023.
The refund will be credited to your account on Aug 30, 2023.
The allotted shares will be credited to your demat on Aug 31, 2023.
Aeroflex Industries Ltd.’s shares listed on the stock exchanges on Aug 31, 2023.