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Business News/ Markets / Ipo/  Ashish Kacholia backed Aeroflex Industries IPO opens next week, check key dates to price band
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Ashish Kacholia backed Aeroflex Industries IPO opens next week, check key dates to price band

Ashish Kacholia-backed Aeroflex Industries IPO opens for subscription on August 22, with a price band of ₹102 to ₹108 per equity share.

Aeroflex Industries IPO price: The company has fixed price band of the public offer at ₹102 to ₹108 per equity share. (Photo: Courtesy Aeroflex Industries Ltd website)Premium
Aeroflex Industries IPO price: The company has fixed price band of the public offer at 102 to 108 per equity share. (Photo: Courtesy Aeroflex Industries Ltd website)

Ashish Kacholia backed Aeroflex Industries Limited IPO opens for subscription on Tuesday, August 22. Mumbai-based Aeroflex Industries Limited produces metallic flexible flow solution products that are good to the environment and delivers to markets across the globe.

Aeroflex Industries Limited exports its goods to more than 80 nations, including the USA, Europe, and others; more than 80% of its revenue comes from exports. In Taloja, Navi Mumbai, the company has a manufacturing facility and an R&D lab that has been accredited by NABL.

For Fiscal 2023, Aeroflex Industries Limited reported consolidated revenue from operations of 269.4 crores, according to Red Herring Prospectus (RHP). EBITDA for the company was 54 crores, with a 20.05% EBITDA margin. The company's profit after tax for the fiscal year 2023 was 30.1 crores, with a PAT margin of 11.19%. For Fiscal 2023, the Company's Return on Equity (RoE) and Return on Capital Employed (RoCE) were 26.43% and 31.91%, respectively.

Aeroflex Industries IPO's floor price is 51 times the face value of the equity share and the cap price is 54 times the face value of the equity share.

In consultation with the lead bankers to the offering, the company's promoters sold 8.69 million equity shares, or 7.6% of the company, and raised 76.14 crore from institutional investors, including Ashish Kacholia, Bengal Finance and Investment Private Ltd, Mitul Prafulbhai Mehta, Samedh Trinity Partners, Jagdish Master, Shyamsundar Basudev Agarwal, VPK Global Ventures Fund, Rajnikkumar Sureshbhai Savaliya HUF, Rosy Blue (India) Private Ltd, Carnelian Structural Shift Fund, according to reports.

Kacholia has a reputation for picking the top multibagger stocks. He is referred to as the Indian stock market's ‘Big Whale’. He has picked the best multibagger stocks over the years by focusing on the midcap and smallcap firms with the quickest rate of growth.

In April, Aeroflex Industries, which is a subsidiary of Sat Industries had filed its Draft Red Herring Prospectus (DRHP) with SEBI to raise about 350 crores through an Initial Public Offering (IPO).

Also Read: Mumbai-based Aeroflex Industries gets SEBI nod for IPO

Here are the 10 key things to know about Aeroflex Industries IPO:

Aeroflex Industries IPO date: Aeroflex Industries IPO opens for subscription on Tuesday, August 22 and closes on Thursday, August 24.

Aeroflex Industries IPO price band: The company has fixed the price band at 102 to 108 per equity share for the proposed initial public offer.

Aeroflex Industries IPO lot size: Bids can be made for a minimum of 130 equity shares and in multiples of 130 equity shares thereafter.

Anchor investors: The allocation to anchor investors for Aeroflex Industries Limited IPO is scheduled to take place on Monday, August 21.

Aeroflex Industries IPO details: Aeroflex Industries IPO comprises of fresh issue of equity shares up to the value of 162 crore and an offer-for-sale (OFS) of up to 1.75 crore equity shares by the promoters selling shareholders and promoter group make up the offer, which has a face value of 2 per equity share.

Aeroflex Industries IPO objectives: According to the DRHP, the fresh issue's proceeds will be used to pay up debt, meet working capital needs, and set aside a portion for general corporate uses and acquisitions for inorganic development.

Allotment and Listing of Aeroflex Industries IPO: Aeroflex Industries IPO's basis of allotment of shares will be finalised on Tuesday, August 29 and the company will initiate refunds on Wednesday, August 30, while the shares will be credited to the demat account of allottees on Thursday, August 31. Aeroflex Industries Limited IPO shares are likely to be listed on BSE and NSE on Friday, September 1.

Lead Manager and Registrar of Aeroflex Industries IPO: Pantomath Capital Advisors Private Ltd is the sole BRLM for the offer, and Link Intime India Private Ltd is the registrar.

Aeroflex Industries IPO reservation: Aeroflex Industries Limited IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.

Aeroflex Industries Limited IPO GMP today: Aeroflex Industries IPO GMP today or grey market premium is +60, higher than previous sessions. This indicates Aeroflex Industries IPO share price were trading at a premium of 60 in the grey market on Wednesday, according to topsharebrokers.com.

Considering the upper end of the Aeroflex Industries IPO price band and the current premium in the grey market, the estimated listing price of Aeroflex Industries IPO share price is 168 apiece, which is 55.56% higher than the IPO price.

According to topsharebrokers.com, today's IPO GMP trend indicates upside and expects a strong listing. The lowest GMP is recorded at Rs17 while the highest GMP is 60.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: SBFC Finance share price extends gain after strong debut on Dalal Street. Buy, sell or hold?

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Published: 16 Aug 2023, 06:03 PM IST
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