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Initial Public Offering of Mumbai based Aeroflex Industries Limited (‘Aeroflex” or “the Company”) 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% 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.

Company Information

Aeroflex’s solutions find application in a wide spectrum of industries for controlled flow of all forms of substances including air, liquid and solid. The Company’s manufacturing facility and NABL accredited R&D lab are situated at Taloja, Navi Mumbai. The Company has filed its Draft Red Herring Prospectus (DRHP) with SEBI to raise about Rs. 350 crores through an Initial Public Offering (IPO).

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.

Flexible flow solutions play a critical role in transfer of substances (air, liquid and solid) in any industrial or commercial ecosystem, connecting the origin and end points of various processes. The Company offers its products under more than 1,700 SKUs (Stock Keeping Units). The Company has recently developed products made of bronze as well and has a pipeline of more than 55 products as on date. Given the complexity of the research and product development, varying product applications, necessary technical expertise, precision involved, lengthy and stringent customer qualification processes, Aeroflex’s business model poses significant entry barriers (to new entrants) as well as exit barriers (to existing customers).

The table below shows subscription data for all the categories of investors:

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