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Aeroflex Industries Limited IPO Detail

Aeroflex Industries Limited IPO Detail

Incorporated in 1993, Aeroflex Industries Limited, previously known as Suyog Intermediates Private Limited, manufactures and supplies environment-friendly metallic flexible flow solution products.

The company's product list includes braided hoses, unbraided hoses, solar hoses, gas hoses, vacuum hoses, braiding, interlock hoses, hose assemblies, lancing hose assemblies, jacketed hose assemblies, exhaust connectors, exhaust gas recirculation (EGR) tubes, expansion bellows, compensators, and related end fittings. As on March 31, 2023, the company recorded more than 1,700 Product SKUs (Stock Keeping Units) in its product portfolio.

Aeroflex Industries' manufacturing facility is located at Taloja, Navi Mumbai, Maharashtra, and is spread across 3,59,528 square feet of area. The facility is certified with Annex III, Module H of Directive 97/23/EC on Pressure Equipment, Management System as per ISO 9001:2015, Environmental Management System-ISO 14001:2015, ISO 45001:2015 (Occupational Health & Safety), Testing Certificate-Gas Hoses-1/2" NB Hose Assembly, NABL ISO /IEC 17025:2017, Statement of 153 Conformity for design, manufacturing, and testing of SS corrugated flexible Hose Assembly, Statement of Conformity for Quality Procedures applied standard EN ISO 10380:2012 and BS 6501-1 (E:2004), Certificate of Design Assessment required for quality management systems, environmental management systems, health and safety management systems.

The company's clientele includes distributors, fabricators, Maintenance Repair and Operations Companies (MROs), Original Equipment Manufacturers (OEMs), and companies operating in a wide range of industries.

Aeroflex recorded Rs. 2694.78 Lakhs in total revenue in Fiscal 2023 and Rs. 2409.92 Million in Fiscal 2022.

Company Promoters

Sat Industries Limited and Italica Global FZC are the promoters of the company.

IPO Details

IPO Opening DateAug 22, 2023
IPO Closing DateAug 24, 2023
Issue TypeBook Built Issue IPO
Face Value₹2 per equity share
IPO Price ₹102 - 108 per equity share
Market Lot130 Shares
Min Order Quantity130 Shares
Listing AtBSE, NSE
Issue Size₹351.00 Cr
Fresh Issue₹162.00 Cr
Offer for Sale₹189.00 Cr
Retail Portion 35.00%

IPO Subscription (Bidding Detail)

Day 1 0.00x 0.00x 0.00x - 0.00x
Day 2 1.17x 14.14x 6.76x - 6.74x
Day 3 8.05x 46.50x 17.86x - 21.08x
Day 4 194.73x 126.13x 34.41x - 97.11x

IPO Tentative Timetable

The Aeroflex Industries Limited IPO open date is Aug 22, 2023, and the close date is Aug 24, 2023. The issue may list on Sep 01, 2023.

IPO Open DateAug 22, 2023
IPO Close DateAug 24, 2023
Basis of Allotment DateAug 29, 2023
Initiation of RefundsAug 30, 2023
Credit of Shares to Demat AccountAug 31, 2023
IPO Listing DateSep 01, 2023

IPO Lot Size

The Aeroflex Industries Limited IPO market lot size is 130 shares. A retail-individual investor can apply for up to 13 lots (1690 shares or ₹182520).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding91.09%
Post Issue Share Holding66.99%

Company Financials:

For the year/period ended (₹ in Crore)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-22 183.44 240.99 27.51
31-Mar-23 213.98 269.48 30.15

Objects of the Issue:

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:

  1. Full or part repayment and/or prepayment of certain outstanding secured borrowings (including foreclosure charges, if any) availed by the company,
  2. Funding working capital requirements of the company, and
  3. General corporate purposes and Unidentified Inorganic Acquisitions.

Aeroflex Industries Limited IPO Registrar:

Link Intime India Private Ltd

Aeroflex Industries Limited IPO Lead Manager(s):

Pantomath Capital Advisors Pvt Ltd

Company Contact Information:

Aeroflex Industries Limited

Plot No. 41, 42/13, 42/14 & 42/18, near Taloja MIDC, Village Chal, Behind IGPL, Panvel

Navi Mumbai

Navi Mumbai