Aeroflex Industries is into Industrial-Iron & Steel flexible flow solutions manufacturing and is looking raise funds through Fresh Issue and Offer for Sale
Quick Pointers
- Promoters of the company are Sat Industries Limited Currently promoters hold 91.09% stake in the company.
- Company aims to raise between Rs 341 to 351 crs through this IPO.
- The net proceeds of the issue will be utilized to 1) Full or part repayment and/or prepayment of certain outstanding secured borrowings (including foreclosure charges, if any amounting to Rs. 35 crores and 2) Funding working capital requirements of Company amounting to Rs 84 crores
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 21-Aug-23.
- Price band for the IPO has been fixed at Rs 102 to 108 per share and bid lot are in multiple of 130 The implied market cap post-issue at Rs 1,328 to 1,397 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on August 29 and share are expected to be listed on NSE, BSE on September 01.
- Company is primary manufacturer of flexible flow solutions with no listed peers with advance manufacturing facility and R&D infrastructure in India. Industry has High entry and exit barriers.
- Aeroflex Industries had more than 1,700 product SKUs (Stock Keeping Units) in the product portfolio. Revenue/EBITDA/PAT grew at a CAGR of 36.43%/55.54%/123.97% during FY21-23. Exports share constituted 80.60%/84.53%/80.90% for FY23/FY22/FY21 respectively. Developed 63 new products over FY20-23. For FY23/FY22/FY21 the revenue contribution from top 5 customers amounted to ₹64.95 crores/₹79.51 crores and ₹46.60 crores constituting 24.10%/33.02%/32.19% respectively.
- Pantomath Capital Advisors has been appointed as Merchant Banker to the issue. Link Intime India Pvt. Ltd. has been appointed as official registrar of the issue.
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About Company
Promoted by BSE listed SAT Industries, Aeroflex industries established in 1993 is manufacturers and suppliers of environment friendly metallic flexible flow solution products. Company supply products to a wide spectrum of industries for controlled flow of all forms of substances including air, liquid and solid. It export products to more than 80 countries including Europe, USA and others.
About Industry
Traditionally, the demand for Flexible Flow Solutions made with Stainless Steel Corrugation was largely driven by the industrial sector – manufacturing plants and manufacturing products from chemicals to paper. HVAC applications too were a major consumer, although the scale of business generated by this segment was lower compared to its industrial counterpart. The steady growth inindustrial activity amidst some disruption along with the slow but steady transition from rubber/PTFE/polymer flexible hoses have resulted in a favorable demand landscape for Flexible Flow Solutions made with Stainless Steel Corrugation manufacturers.(Source:D&B Report)
Promoters of the company are Sat Industries Limited Currently promoters hold 91.09% stake in the company.
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Check Allotment Status of Aeroflex Industries IPO
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