Aeroflex Industries IPO: The initial public offering (IPO) of Aeroflex Industries opens for subscription on Tuesday, August 22. The Ashish Kacholia-backed Aeroflex Industries produces metallic flexible flow solution products that are good to the environment and delivers to markets across the globe.
Aeroflex Industries IPO is a Book Built Issue and the total issue size of the IPO is ₹351 crore. The Aeroflex Industries IPO, which closes on August 24, consists of a fresh issue of shares as well as an offer for sale (OFS) portion.
Aeroflex Industries IPO GMP today
Aeroflex Industries IPO GMP today, or grey market premium today, indicates a decent listing of Aeroflex Industries shares. As per topsharebrokers.com, Aeroflex Industries IPO GMP today is ₹58 per share ahead of IPO opening.
According to market observations, Aeroflex Industries shares are trading at a premium of ₹58 to the issue price in the grey market. The GMP today is lower than the GMP of ₹61 on August 20.
Considering the GMP today and the upper end of the price band, Aeroflex Industries shares are estimated to list at ₹166 apiece ( ₹108 + ₹58) on the exchanges, which is a premium of more than 53%.
Also Read: Ashish Kacholia backed Aeroflex Industries IPO opens this week, check key dates to price band
Aeroflex Industries IPO Dates
Aeroflex Industries IPO opens of August 22 and will close on August 24, The basis of allotment of shares will be finalised on Tuesday, August 29, and the company will initiate refunds on Wednesday, August 30, while the shares will be credited to the demat account of allottees on Thursday, August 31.
Aeroflex Industries IPO shares are likely to be listed on BSE and NSE on Friday, September 1.
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Aeroflex Industries IPO Details
Aeroflex Industries IPO comprises fresh issue of equity shares up to the value of ₹162 crore and an offer-for-sale (OFS) of up to 1.75 crore equity shares by the promoters selling shareholders and promoter group.
Aeroflex Industries IPO price band has been fixed at ₹102 to ₹108 per equity share for the proposed initial public offer. At the upper end of the price band, Aeroflex Industries IPO size is ₹351 crore.
The company plans to utilise the fresh issue proceeds to pay up debt, meet working capital needs, and set aside a portion for general corporate uses and acquisitions for inorganic development.
Aeroflex Industries IPO Review
On FY23 financials, Aeroflex Industries IPO is valued at 42x P/E, 26.6xEV/EBITDA and 5.3x EV/Sales, said Reliance Securities in a note. The brokerage believes Aeroflex Industries is likely to benefit from growth prospects in traditional industrial segments like manufacturing, automotive, oil & gas among others as well as emerging industries like solar, lithium-Ion battery management and robotics among others.
“Moreover, a strong track record of commercialising and scaling up new products and R&D capabilities puts the company in a good position to capture the requirements of diverse end user industrial sectors. In view of diversified product portfolio, strong financials, global footprint, focus on expanding its capacities, products and R&D capabilities, we recommend a Subscribe to the issue,” Reliance Securities said.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Updated: 21 Aug 2023, 03:08 PM IST