Aeroflex Industries IPO Highlights
- The IPO consists of a fresh issue of equity shares worth up to Rs 162.00 crore and an offer-for-sale (OFS) of up to 1.75 crore equity shares (aggregating up to 189.00 crores). The total size of this IPO can be up to Rs 351.00 crore.
- The IPO price is ₹102 to ₹108 per equity share. The minimum bid lot is 130 equity shares and in multiples of 130 equity shares thereafter.
- The company through its IPO will fetch Rs 340.5 crore and Rs 351 crore at the lower end (floor price) and upper end (cap price) of the price band respectively.
- Aeroflex Industries IPO opens on 22 August 2023 and close on 24 August 2023. The allocation of equity shares for this IPO will be finalised on 29 August 2023 and the IPO listing will take place on 1 September 2023.
- The bidding for anchor investors will open on 21 August 2023.
Company details
Objects of the Offer
- The IPO consists of a fresh issue of equity shares worth up to Rs 162.00 crore and an offer-for-sale (OFS) of equity shares worth up to 189.00 crore.
- The company will not receive any proceeds from the Offer for Sale.
Proceeds from the fresh issue will be utilized for
- Full or part repayment and/or prepayment of certain outstanding secured borrowings.
- Funding working capital requirements of the Company
- General corporate purposes and Unidentified Inorganic Acquisitions.
Aeroflex Industries IPO Details, Price, Market Lot
| IPO Details | |
| IPO Open Date | 22 August 2023 |
| IPO Close Date | 24 August 2023 |
| IPO Issue Size | 32,500,000 equity shares of face value ₹2 aggregating up to 351.00 crore |
| Fresh Issue | 15,000,000 (aggregating up to 162.00 crore) |
| Offer for Sale | 17,500,000 equity shares (aggregating up to 189.00 crore) |
| Listing At | NSE, BSE |
| IPO Reservation | |
| Retail Portion Offered | Not less than 35% of the offer |
| NII (HNI) Portion Offered | Not less than 15% of the offer |
| QIB Portion Offered | Not more than 50% of the offer |
| IPO Price | |
| Face Value | ₹2 per equity share |
| IPO Price Band | ₹102 to ₹108 per equity share |
| Employee Discount | — |
| IPO Issue Type | Book Built Issue |
| IPO Market Lot For Retail Investors | |
| No. of Shares Per Lot | 130 equity shares |
| Minimum Lot Size | 1 lot of 130 equity shares |
| Maximum Lot Size | 14 lots of 1820 equity shares |
| Minimum Amount (Cut-off price) | ₹14,040 |
| Maximum Amount (Cut-off price) | ₹196,560 |
| IPO Market Lot For S-HNI | |
| No. of Shares Per Lot | 130 equity shares |
| Minimum Lot Size | 15 lots of 1950 equity shares |
| Maximum Lot Size | 71 lots of 9230 equity shares |
| Minimum Amount (Cut-off price) | ₹210,600 |
| Maximum Amount (Cut-off price) | ₹996,840 |
| IPO Market Lot For B-HNI | |
| No. of Shares Per Lot | 130 equity shares |
| Minimum Lot Size | 72 lots of 9360 equity shares |
| Minimum Amount (Cut-off price) | ₹1,010,880 |
Aeroflex Industries IPO Date, Listing Date, Allotment Date
The Aeroflex Industries IPO is scheduled to open on 22 August 2023 and close on 24 August 2023. The allocation of equity shares for this IPO will be finalised on 29 August 2023 and the IPO listing will take place on 1 September 2023.
| Time Table (Tentative) | |
| IPO Open Date | 22 August 2023 |
| IPO Close Date | 24 August 2023 |
| Basis of Allotment Date | 29 August 2023 |
| Initiation of Refunds | 30 August 2023 |
| Credit of Share to Demat Account | 31 August 2023 |
| IPO Listing Date | 1 September 2023 |
Financial Report (Restated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth |
| ₹ in Million | ||||
| 31 March 2023 | 2139.77 | 2694.78 | 301.52 | 1140.93 |
| 31 Mar 2022 | 1,834.38 | 2,409.92 | 275.06 | 862.23 |
| 31 Mar 2021 | 1,616.43 | 1,448.35 | 60.11 | 587.17 |
| 31 Mar 2020 | ||||
IPO Valuation
| Price to Earning P/E Ratio | — |
| Earning Per Share (EPS) | 2.64 |
| Return on Net Worth | 26.43 |
| Net Asset Value (NAV) | 9.98 |
Peer Comparison
There are no listed companies in India that are engaged in a business similar to Aeroflex Industries. Accordingly, it is not possible to provide an industry comparison in relation to Company in India. However, globally, there are listed companies that are engaged in similar business.
Parker Hannifin Corporation is listed on New York Stock Exchange and Senior PLC is listed on London Stock Exchange.
| Company | P/E | EPS (Basic) | EPS (Diluted) | NAV | RONW |
| Aeroflex Industries Limited | — | 2.64 | 2.64 | 9.98 | 26.43 |
| Parker Hannifin Corporation | 26.18 | 16.23 | 16.04 | 80.58 | 20.15 |
| Senior PLC | 35.35 | 0.05 | 0.05 | 1.07 | 4.49 |
Aeroflex Industries IPO Time Table and Shares Offered for Anchor Investors
Pyramid Technoplast IPO raises Rs 27.55 crore from anchor investors. Pyramid Technoplast IPO Anchor bid date is Aug 17, 2023.
| Shares Offered | up to 60% of QIB portion |
| Amount | |
| Bid Date | 21 August 2023 |
| Lock-in Period end date for 50% of Shares (30 days) | |
| Lock-in Period End for remaining Shares (90 days) |
Company Promotor & Promotor’s Holding
Sat Industries Limited and Italica Global FZC are the promoters of Aeroflex Industries.
| Pre Issue Promotor Holding | 91.09% |
| Post Issue Promotor Holding | 66.99% |
Company Address
Registered Office: Plot No. 41, 42/13, 42/14 & 42/18, near Taloja MIDC, Village Chal, Behind IGPL, Panvel, Navi Mumbai – 410 208, Maharashtra, India.
- Phone: +91 91 22 61467100/ 22 22850888
- Website: www.aeroflexindia.com
- Email: corporate@aeroflexindia.com
IPO Registrar, Lead Manager, Prospectus
| IPO Prospectus |
|
| IPO Registrar |
LINK INTIME INDIA PRIVATE LIMITED
|
| IPO Lead Manager |
PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED
|
IPO Review (Apply or Avoid)
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