Aeroflex Industries Subscribed 6.71 Times On Day 1

Aeroflex Industries Ltd. is holding its initial public offering between Aug. 22 and 24.

The manufacturer of stainless steel hoses will have an IPO issue size of Rs 351 crore. It consists of a fresh issue of Rs 162 crore and an offer for sale of Rs 189 crore by the promoter group at a price band of Rs 102–108 apiece.

The shares of the Sat Industries Ltd.'s subsidiary will list on both the BSE and the NSE on Sept. 1.

• Issue opens: Aug. 22.

• Issue closes: Aug. 24.

• Total issue size: Rs 351 crore.

• Face value: Rs 2 per share.

• Fresh issue size: Rs 162 crore.

• Shares for fresh issue: 1.5 crore.

• Offer for sale size: Rs 189 crore.

• Shares for offer for sale: 1.75 crore.

• Price band: Rs 102 to Rs 108 per share.

• Lot size: 130 shares and its multiples.

• Listing date: Sept. 1.

• Listing: BSE and NSE.

Aeroflex Industries manufactures and supplies stainless steel corrugated flexible hoses (with and without braiding), stainless steel interlock hoses, hose assemblies and related end fittings, collectively known as flexible flow solutions.

The company caters to over 80 export markets, accounting for 81% of the revenue at Rs 217.2 crore in the previous fiscal. The U.S. is the largest export market that constituted 28% of the revenue in FY23 and 32% in FY22.

The IPO has been subscribed 6.71 times as of 5 p.m. on Tuesday.

• Institutional investors: 1.17 times.

• Non-institutional investors: 14.10 times

• Retail investors: 6.71 times

• Reservation Portion Shareholders: 3.63 times