Aeroflex Industries IPO
Aeroflex Industries IPO — date, price band, lot size & details 2023
Aeroflex Industries listed on 31 Aug 2023 at ₹190, 75.9% above the ₹108 issue price.
Aeroflex Industries makes metallic flexible flow solutions such as braided hoses, hose assemblies, bellows and compensators, with more than 80% of revenue from exports. Its total income was Rs 269.48 crore in FY2023.
Stock price
Aeroflex Industries is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 22 Aug 2023
- Close 24 Aug 2023
- Allotment 29 Aug 2023
- Refund/credit 30 Aug 2023
- Listing 31 Aug 2023
Issue summary
The terms of the offer, as filed.
| IPO Dates | 22 to 24 Aug, 2023 |
|---|---|
| Price Band | ₹102 – ₹108 |
| Face Value | ₹2 |
| Lot Size | 130 Shares |
| Issue Size | ₹351 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,040 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 130 shares at the ₹108 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 130 | ₹14,040 |
| Retail (max) | 14 | 1,820 | ₹1,96,560 |
| S-HNI (min) | 15 | 1,950 | ₹2,10,600 |
| S-HNI (max) | 71 | 9,230 | ₹9,96,840 |
| B-HNI (min) | 72 | 9,360 | ₹10,10,880 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 144.84 crore in FY2021 to Rs 269.48 crore in FY2023.
- 02Profit after tax rose from Rs 6.01 crore in FY2021 to Rs 30.15 crore in FY2023.
- 03The source puts return on net worth at 26.43% and the PAT margin at 11.19%.
- 04It exports to more than 80 countries and has more than 1,700 SKUs.
- 05Borrowing was low at Rs 45.01 crore on 31 March 2023.
Risks · 5
- 01The pre-issue P/E was 40.91 at the upper band of Rs 108, based on EPS of Rs 2.64.
- 02More than 80% of revenue comes from exports, so global demand and currency moves matter. The USA alone was 28% of FY2023 revenue.
- 03Rs 189.00 crore of the Rs 351 crore issue was offer for sale by the promoter.
- 04All production is at 1 facility in Taloja, so any disruption there hits all output.
- 05Promoters and the promoter group held 91.09% before the issue and 66.99% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Aeroflex Industries offer document.
| Metric | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 213.98 | 183.44 | 161.64 |
| Total Income | 269.48 | 240.99 | 144.84 |
| Profit After Tax | 30.15 | 27.51 | 6.01 |
| NET Worth | 114.09 | 86.22 | 58.72 |
| Total Borrowing | 45.01 | 39.13 | 53.07 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Aeroflex Industries RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Aeroflex Industries IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹2.64 | ₹2.33 |
| P/E Ratio (x) | 40.91 | 46.35 |
| Market Cap at Offer Price (₹ Cr) | ₹1,233.41 | ₹1,397.51 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹108 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹131.53 Cr of the issue is earmarked to named objects.
About the company
Its range covers braided and unbraided hoses, solar hoses, gas hoses, vacuum hoses, interlock hoses, hose assemblies, exhaust connectors, EGR tubes, expansion bellows, compensators and end fittings. It had more than 1,700 product SKUs on 31 March 2023.
Its manufacturing facility is at Taloja, Navi Mumbai, Maharashtra. It exports to more than 80 countries, and exports made up more than 80% of revenue from operations. Its promoter is Sat Industries Limited.
The IPO was Rs 351 crore, with Rs 162.00 crore of fresh issue and Rs 189.00 crore of offer for sale by Sat Industries. Rs 84.00 crore was planned for working capital and Rs 32.00 crore for repaying borrowings.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Aeroflex Industries IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Pantomath Capital Advisors Pvt Ltd
19 issues handledBest listing: Vishnu Prakash R Punglia (+66.7%). Weakest: Glottis (-34.9%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Aeroflex Industries?
The current Grey Market Premium is ₹194.73, or 180% over the issue price.
What is the Aeroflex Industries IPO price band?
₹102 to ₹108, on a face value of ₹2.
When is the allotment?
The basis of allotment is 29 August 2023, with listing on 31 August 2023.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
