Aeroflex Industries IPO Subscribed 97.07 Times On Final Day

Initial Public Offering of Mumbai based Aeroflex Industries Limited is a manufacturer of environment friendly Metallic Flexible Flow Solution products, catering to global markets. Aeroflex exports its products to more than 80 countries including Europe, USA and others, generating more than 80 per cent of its revenue from exports, was subscribed 97.07 times on the final day of bidding.

The issue received bids of 2,25,37,18,090 shares against the offered 2,32,17,667 equity shares, at a price band of ₹102-108, according to the data available on the stock exchanges.

Qualified Institutional Buyer Portion was the most subscribed with 194.73 times, followed by Non-Institutional Investors Portion with 126.10 times. Retail Portion was subscribed 34.35 times, whereas Reservation Shareholders Portion was subscribed 28.50 times.

Pantomath Capital Advisors Private Limited is the sole book-running lead manager. Company’s equity shares are proposed to be listed on the BSE and NSE.

Aeroflex

Aeroflex is subsidiary of Sat Industries Limited which is also listed on BSE and NSE. Both Aeroflex and Sat Industries Limited have dividend payment history. Sat Industries Limited has track record of scaling up of multiple diverse businesses backed by acquisition led strategy.