Aeroflex IPO GMP Today, Dates, Price & Other Details

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Aeroflex IPO is set to open for subscription from August 22nd to August 24th.

In this article, we have gathered all the crucial information that you need to know before thinking of investing in Aeroflex Industries IPO.

Let’s start with the objectives of the IPO.

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Objectives of Aeroflex IPO

The Net Proceeds of the Aeroflex Industries IPO are proposed to be used in the manner set out in in the following table:

Sr. No.	Particulars	Estimated Amount (₹ in million)
1	Full or part repayment and/or prepayment of certain outstanding secured borrowings (including foreclosure charges, if any) availed by our Company	350.00
2	Funding working capital requirements of our Company	840.00
3	General corporate purposes and unidentified inorganic acquisitions*	[●]

*To be finalized on determination of the Offer Price and updated in the Prospectus prior to filing with the ROC. In compliance with Regulation 7(2) of the SEBI ICDR Regulation, the amount utilised for general corporate purposes shall not exceed 25% of the Gross Proceeds of the Offer.

Aeroflex IPO Details

IPO Date	Aug 22, 2023 to Aug 24, 2023
Listing Date	1 September 2023
Face Value	₹2 per share
Price	₹102 to ₹108 per share
Lot Size	130 Shares
Total Issue Size	32,500,000 shares (aggregating up to ₹351.00 Cr)
Fresh Issue	15,000,000 shares (aggregating up to ₹162.00 Cr)
Offer for Sale	17,500,000 shares of ₹2 (aggregating up to ₹189.00 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Share holding pre issue	114,320,370
Share holding post issue	129,320,370

Aeroflex IPO Tentative Timetable

IPO Open Date	Tuesday, 22 August 2023
IPO Close Date	Thursday, 24 August 2023
Basis of Allotment	Tuesday, 29 August 2023
Initiation of Refunds	Wednesday, 30 August 2023
Credit of Shares to Demat	Thursday, 31 August 2023
Listing Date	Friday, 1 September 2023
Cut-off time for UPI mandate confirmation	5 PM on Aug 24, 2023

Aeroflex IPO Reservation

QIB Shares Offered	Not more than 50.00% of the Net offer
NII (HNI) Shares Offered	Not less than 15.00% of the Offer
Retail Shares Offered	Not less than 35.00% of the Offer

Aeroflex IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	130	₹14,040
Retail (Max)	14	1820	₹196,560
S-HNI (Min)	15	1,950	₹210,600
S-HNI (Max)	71	9,230	₹996,840
B-HNI (Min)	72	9,360	₹1,010,880

Aeroflex IPO Financials (Restated Consolidated)

S. No.	Particulars	Ten Months Period Ended January 31, 2023	March 31, 2022	March 31, 2021	March 31, 2020
1	Share Capital	228.64	228.64	228.64	228.64
2	Net Worth	1,062.50	862.23	587.17	527.02
3	Revenue from Operations	2,196.27	2,408.00	1,447.74	1,443.41
4	Profit after Tax	223.08	275.06	60.11	46.92
5	Earnings per Share (Basic and Diluted)	9.76	12.03	2.63	2.05
6	Earnings per Share (Basic and Diluted) after sub-division of Equity Shares	1.95	2.41	0.53	0.41
7	Net Asset Value per Equity Share	46.47	37.71	25.68	23.05
8	Net Asset Value after sub-division of Equity Shares	9.29	7.54	5.14	4.61
9	Total Borrowings	475.55	391.27	530.68	634.55
10	Operating Profit	414.01	466.92	223.35	217.53

– (₹ in million)

Aeroflex IPO Promoters

Sat Industries Limited is the sole Promoter of Aeroflex Industries Limited.

Here’s the shareholding of the promoter; pre-isssue and post-issue:

Pre Issue Share Holding	91.09%
Post Issue Share Holding	66.99%

Aeroflex Industries Limited Company Background

Company Overview: Aeroflex Industries Limited
- Established: 1993
- Formerly known as: Suyog Intermediates Private Limited
- Specializes in manufacturing environment-friendly metallic flexible flow solution products
Product Range:
- Includes braided hoses, unbraided hoses, solar hoses, gas hoses, vacuum hoses, and more
- Offers various hose assemblies, lancing hose assemblies, jacketed hose assemblies, exhaust connectors, and expansion bellows
- More than 1,700 Product SKUs in the portfolio as of March 31, 2023
Manufacturing Facility:
- Located in Taloja, Navi Mumbai, Maharashtra
- Spans 3,59,528 square feet
- Holds certifications for pressure equipment, ISO standards, environmental management, and occupational health & safety
Clientele:
- Serves distributors, fabricators, MROs, OEMs, and companies across diverse industries
Financial Highlights:
- Recorded Rs. 2694.78 Lakhs in total revenue in Fiscal 2023
- Achieved Rs. 2409.92 Million in Fiscal 2022

Aeroflex Industries Limited Industry Overview

Demand for Flexible Flow Solutions with Stainless Steel Corrugation:
- Traditionally driven by the industrial sector, including manufacturing plants and various products (chemicals, paper, etc.).
- HVAC applications also a significant consumer, though with lower business scale compared to the industrial sector.
Shift in Demand Landscape:
- Steady growth in industrial activity, accompanied by some disruptions.
- Gradual transition from rubber, PTFE, and polymer flexible hoses to Stainless Steel Corrugation solutions.
- This shift has led to a favorable demand scenario for manufacturers of Flexible Flow Solutions using Stainless Steel Corrugation.