The company filed preliminary IPO papers with the regulator in March and secured regulatory approval for the same earlier this month. Before the IPO, Ashish Kacholia and Jagdish Master acquired stakes in the company.
Aeroflex is a subsidiary of Sat Industries, which is a listed entity.
The company exports Make-in-India metallic flexible flow solutions to over 85 countries. Exports contribute more than 80% to the total revenues.
Its metallic flexible flow solutions, which replace rubber and polymer pipes and tubes, serve various industries, including fire-fighting, aviation, and space.
Aeroflex has consistently distributed dividends for the past two years, adhering to a clearly defined policy of 7-15% range, as disclosed in the offer document.
The IPO, with a face value of Rs 2 per equity share, comprises a fresh issue of equity shares worth up to Rs 160 crore and an offer-for-sale (OFS) of up to 17.5 million equity shares by the promoting shareholders.The proceeds from the issue will be channeled: Rs 35 crore towards prepayment of the company’s outstanding secured borrowings, Rs 84 crore for working capital needs, and a certain portion for general corporate purposes and acquisitions targeting inorganic growth.
For the financial year ending March 2023, the company recorded a revenue from operations of Rs 269.4 crore and a profit of Rs 30.1 crore.
Pantomath Capital is the sole book running lead manager for the IPO, while Link Intime India serves as the registrar. The company’s equity shares are set to be listed on both BSE and NSE.