Aug 22, 2023
By: Sourabh Jain
Credit: Canva
Navi Mumbai-based Aeroflex Industries is all set to begin its initial public offering (IPO) from August 22.
Credit: Aeroflex Industries
The Aeroflex Industries IPO will open on August 22 and close on August 24.
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Aeroflex Industries has fixed a price band of ₹102-₹108 per share for its public issue.
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Aeroflex Industries is looking to raise ₹351 crore from the current IPO, which includes a fresh issue of ₹162 crore and an offer for sale of ₹189 crore.
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Investors can bid for a minimum of 130 shares and in multiples of 130 shares thereafter.
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Aeroflex Industries makes environmentally-friendly metallic flexible flow solution products to global as well as domestic markets.
Credit: Aeroflex Industries
The company has a single manufacturing facility situated in Taloja, Navi Mumbai spread across 3.59 lakh square feet of area.
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The company’s income was ₹269 crore in FY23, up from ₹240.8 crore in FY22. The company had a net profit of ₹30 crore in FY23, up from ₹27.5 crore in FY22.
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According to the company, the segment it operates in is fragmented and diversified. It can face competition from other large and small global and domestic players.
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The company has also added that its exports are subject to duties or restrictions and the company is dependent on China for a significant portion of its raw materials.
Credit: Canva