Aeroflex Industries made a strong debut on the stock exchanges on Thursday, listing at a premium of 83% to its IPO price of Rs 108.
The stock opened at Rs 190 on the NSE and touched a high of Rs 197.40 during the day. It closed at Rs 190.25, up 82.35% from its IPO price.
The strong listing was on expected lines as the IPO had been subscribed 97 times. The company had raised Rs 351 crore from the IPO.
Aeroflex Industries is a manufacturer of metallic flexible flow solution products. It supplies its products to a wide range of industries, including aerospace, defence, oil and gas, and power. The company has a strong track record of growth and profitability.
What do Aeroflex Industries do?
Aeroflex Industries Limited is a leading manufacturer of metallic flexible flow solution products in India. The company was founded in 1993 and is headquartered in Ahmedabad, Gujarat. It has a manufacturing plant in Ahmedabad and a sales and marketing office in Mumbai.
Aeroflex Industries’ products are used in a wide range of industries, including aerospace, defence, oil and gas, and power. The company’s products are known for their high quality and durability.
In 2022-23, Aeroflex Industries’ revenue was ₹269.48 crore and its profit after tax was ₹30.1 crore. The company has a strong track record of growth and profitability.
In August 2023, Aeroflex Industries made its initial public offering (IPO). The IPO was subscribed 97 times and the company raised ₹351 crore.
Aeroflex Industries is a well-managed company with a strong track record of growth and profitability. The company is well-positioned to capitalize on the growing demand for metallic flexible flow solution products in India and abroad.
Here are some of the key points about Aeroflex Industries:
- Founded in 1993
- Headquartered in Ahmedabad, Gujarat
- Manufactures metallic flexible flow solution products
- Products used in a wide range of industries
- Revenue of ₹269.48 crore in 2022-23
- Profit after tax of ₹30.1 crore in 2022-23
- IPO subscribed 97 times in August 2023
- Raised ₹351 crore from IPO
Aeroflex Industries IPO Details
| IPO Date | Aug 22, 2023 to Aug 24, 2023 |
| Listing Date | Aug 31, 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 |
| 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 | Thursday, 31 August 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Aug 24, 2023 |