IPO for Aeron Composite: 44.88 lakh equity shares with a face value of Rs 10 each are being issued fully new in the IPO.
Aeron Composite Sets Rs 121-125 Price Band
The pricing range for Aeron Composite Ltd.’s SME IPO, which is scheduled to go live on August 28 for subscriptions, has been set at Rs 121–125 per share, the company announced on Saturday.
According to a statement from Aeron Composite, the firm hopes to raise up to Rs 56.10 crore through its SME public offering.
It further stated that the company has been given permission to begin its public offering on the National Stock Exchange’s NSE Emerge Platform.
On August 30, the public problem will come to an end. A minimum of 1,000 shares, as well as multiples of that number, are up for purchase.
44.88 lakh equity shares with a face value of Rs 10 each are being issued fully new in the IPO.
Initial public offer: Aeron Composite Sets Rs 121-125 Price Band
During an initial public offering (IPO), the retail investor quota is set at no less than 35% of the net offer; the non-institutional investor quota is set at no less than 15% of the offer; and the QIB part is set at no more than 50% of the offer.
The firm intends to use the revenues from the initial public offering (IPO) to finance general corporate operations as well as the capital expenditures necessary to establish an additional manufacturing facility in Mehsana, Gujarat.
For FY 2023–24 (ending in February 2024), the company recorded revenue of Rs 179.1 crore and net profit of Rs 9.42 crore.
Fiberglass Reinforced Polymer (FRP) goods, such as FRP pultruded products, FRP moulded gratings, and FRP rods designed for a range of industrial applications, are manufactured and supplied by Aeron Composite Ltd. Products are exported by it to over 30 nations.
Maashitla Securities Pvt Ltd is the issue’s registrar, while Hem Securities Ltd is the only book running lead manager. (Aeron Composite Sets Rs 121-125 Price Band)
Account opning link:
- Groww Account- https://app.groww.in/v3cO/kyrp1zph
- Kotak neo Account https://kotaksecurities.ref-r.com/c/i/32531/109103906
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