Aeroflex Industries Limited, previously known as Suyog Intermediates Private Limited, manufactures and supplies environment-friendly metallic flexible flow solution products.
The company’s product list includes braided hoses, unbraided hoses, solar hoses, gas hoses, vacuum hoses, braiding, interlock hoses, hose assemblies, lancing hose assemblies, jacketed hose assemblies, exhaust connectors, exhaust gas recirculation (EGR) tubes, expansion bellows, compensators, and related end fittings. As on March 31, 2023, the company recorded more than 1,700 Product SKUs (Stock Keeping Units) in its product portfolio.
Aeroflex Industries’ manufacturing facility is located at Taloja, Navi Mumbai, Maharashtra, and is spread across 3,59,528 square feet of area. The facility is certified with Annex III, Module H of Directive 97/23/EC on Pressure Equipment, Management System as per ISO 9001:2015, Environmental Management System-ISO 14001:2015, ISO 45001:2015 (Occupational Health & Safety), Testing Certificate-Gas Hoses-1/2″ NB Hose Assembly, NABL ISO /IEC 17025:2017, Statement of 153 Conformity for design, manufacturing, and testing of SS corrugated flexible Hose Assembly, Statement of Conformity for Quality Procedures applied standard EN ISO 10380:2012 and BS 6501-1 (E:2004), Certificate of Design Assessment required for quality management systems, environmental management systems, health and safety management systems.
The company’s clientele includes distributors, fabricators, Maintenance Repair and Operations Companies (MROs), Original Equipment Manufacturers (OEMs), and companies operating in a wide range of industries.
Aeroflex Industries IPO – Details
| IPO Opening Date | 22 August 2023 |
| IPO Closing Date | 24 August 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 3,25,00,000 Shares Worth ₹351 Crore Fresh Issue: 1,50,00,000 Shares Worth ₹162 Crore Offer For Sale: 1,75,00,000 Shares Worth ₹189 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹102 – ₹108 |
| Market Lot | 130 Shares |
| Min Order | 130 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Aeroflex Industries IPO – Date Schedule
| IPO Open Date | 22 August 2023 |
| IPO Close Date | 24 August 2023 |
| Basis of Allotment Date | 29 August 2023 |
| Initiation of Refunds | 30 August 2023 |
| Credit of Shares to Demat Account | 31 August 2023 |
| IPO Listing Date | 31 August 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on 24 August , 2023 |
Aeroflex Industries IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 130 | 14,040 |
| Retail (Max) | 14 | 1820 | 1,96,560 |
| S-HNI (Min) | 15 | 1950 | 2,10,600 |
| S-HNI (Max) | 71 | 9230 | 9,96,840 |
| B-HNI (Min) | 72 | 9360 | 10,10,880 |
Competitive Strengths
- Global flexible flow solutions provider operating in addressable market, catering to diverse industry segments;
- Export oriented business model;
- Primary manufacturer of flexible flow solutions (Make in India with no listed peers with advance manufacturing facility and R&D infrastructure);
- High entry and exit barriers;
- Experienced and dedicated senior team across key functions.
Company Promoters
- Sat Industries Limited
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 144.83 | 135.15 | 6.01 | 53.06 |
| 31 March 2022 | 240.99 | 204.54 | 27.50 | 39.12 |
| 31 March 2023 | 269.47 | 225.19 | 30.15 | 45.00 |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 40.91 |
| Market Cap (₹ Cr.) | 1396.66 |
| ROE | 26.43 |
| ROCE | 31.91 |
| Debt/Equity | 0.39 |
| EPS (Rs) | 2.64 |
| RoNW | 26.43 |
Object Of The Issue
- Full or part repayment and/or prepayment of certain outstanding secured borrowings (including foreclosure charges, if any) availed by the Company.
- Funding working capital requirements of the Company.
- General corporate purposes and unidentified inorganic acquisitions.
Aeroflex Industries IPO Strengths
- Primary Manufacturer of flexible flow solutions (Make-in-India, Make-For-World) with no listed peers with an advanced manufacturing facility and R&D infrastructure.
- Its solutions are subject to and measured against quality standards and rigorous product approval systems with stringent design, engineering and use specifications, which act as significant entry barriers for new players.
- The company has low leverage, with a debt-to-equity ratio of 0.45 as of January 31, 2023.
Aeroflex Industries IPO Risks
- Adverse fluctuation in foreign exchange rates, unavailability of any fiscal benefits or the company’s inability to comply with related requirements may have an adverse effect on its business and results of operations.
- The business is dependent and will continue to depend on our single manufacturing facility, and the company is subject to certain risks on that behalf. Any slowdown or shutdown in the manufacturing operations could have an unwanted effect on Aeroflex’s business.
- The company requires significant amounts of working capital, and a significant portion of its working capital is consumed in trade receivables and inventories. The inability to meet the working capital requirements, including failure to realise receivables and inventories, may impact the company’s operations.
Aeroflex Industries IPO Promoter Holding
| Pre Issue Share Holding | 91.09% |
| Post Issue Share Holding | 66.99% |
Aeroflex Industries IPO Prospectus
Company Contact Information
| Aeroflex Industries Limited Plot No. 41, 42/13, 42/14 & 42/18, near Taloja MIDC, Village Chal, Behind IGPL, Panvel, Navi Mumbai – 410 208 Phone: +91 22 61467100 Email: corporate@aeroflexindia.com Website: https://www.aeroflexindia.com/ |
Aeroflex Industries IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: aeroflexindustries.ipo@linkintime.co.in Website: https://linkintime.co.in/mipo/ipoallotment.html |
Aeroflex Industries IPO Lead Manager(s)
| 1. Pantomath Capital Advisors Pvt Ltd |
Aeroflex Industries IPO FAQs
| What is Aeroflex Industries IPO? Aeroflex Industries IPO is a main-board IPO. The issue is priced at ₹102 to ₹108 per equity share. The IPO is to be listed on BSE & NSE. |
| When Aeroflex Industries IPO will open? The IPO is to open on 22 August 2023 for QIB, NII, and Retail Investors. |
| What is Aeroflex Industries IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Aeroflex Industries IPO? You can apply Aeroflex Industries IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Aeroflex Industries IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Aeroflex Industries”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Aeroflex Industries IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Aeroflex Industries”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Aeroflex Industries IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Aeroflex Industries”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Aeroflex Industries IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Aeroflex Industries”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Aeroflex Industries IPO Size? Aeroflex Industries IPO size is ₹351 Crore. |
| What is Aeroflex Industries IPO Price Band? Aeroflex Industries IPO Price Band is ₹102 to ₹108. |
| What is Aeroflex Industries IPO Minimum and Maximum Lot Size? The minimum bid is 130 Shares with ₹14,040 amount while the maximum bid is 1820 shares with ₹1,96,560. |
| What is the Aeroflex Industries IPO Allotment Date? Aeroflex Industries IPO allotment date is 29 August 2023. |
| What is the Aeroflex Industries IPO Listing Date? Aeroflex Industries IPO listing date is 31 August 2023. The IPO is to list on BSE and NSE. |
