The corporate filed preliminary IPO papers with the regulator in March and secured regulatory approval for a similar earlier this month. Earlier than the IPO, Ashish Kacholia and Jagdish Grasp acquired stakes within the firm.
Aeroflex is a subsidiary of Sat Industries, which is a listed entity.
The corporate exports Make-in-India metallic versatile circulate options to over 85 nations. Exports contribute greater than 80% to the entire revenues.
Its metallic versatile circulate options, which change rubber and polymer pipes and tubes, serve varied industries, together with fire-fighting, aviation, and area.
Aeroflex has persistently distributed dividends for the previous two years, adhering to a clearly outlined coverage of 7-15% vary, as disclosed within the supply doc.
The IPO, with a face worth of Rs 2 per fairness share, contains a contemporary subject of fairness shares value as much as Rs 160 crore and an offer-for-sale (OFS) of as much as 17.5 million fairness shares by the selling shareholders.The proceeds from the difficulty might be channeled: Rs 35 crore in the direction of prepayment of the corporate’s excellent secured borrowings, Rs 84 crore for working capital wants, and a sure portion for basic company functions and acquisitions focusing on inorganic development.
For the monetary yr ending March 2023, the corporate recorded a income from operations of Rs 269.4 crore and a revenue of Rs 30.1 crore.
Pantomath Capital is the only real e book working lead supervisor for the IPO, whereas Hyperlink Intime India serves because the registrar. The corporate’s fairness shares are set to be listed on each BSE and NSE.
