Aeroflex exports metallic flexible flow solutions to more than 85 countries, as exports account for more than 80 per cent of the company’s total revenues.
Aeroflex exports metallic flexible flow solutions to more than 85 countries, as exports account for more than 80 per cent of the company’s total revenues.Shares of Aeroflex Industries made a strong debut at Dalal Street on Monday as the stock got listed at Rs 197.40, a premium of 83 per cent over its issue price of Rs 108, on BSE. Similarly, the counter kicked-off its maiden trading session at a premium of 76 per cent at Rs 190 on National Stock Exchange (NSE). The debut of Aeroflex has been on the expected line as the grey market premium was signaling a strong listing pop for the investors. Ahead of its listing, Aeroflex Industries was commanding a premium of Rs 70-75 per share in the grey market. The listing saw more attractive muted performances on TVS Supply Chain Solutions and Pyramid Technoplast on their debut. The Rs 351-crore initial public offering (IPO) of Sat Industries promoted-Aeroflex Industries ran from August 22 to August 24, as the company offered its shares in the price band of Rs 102-108 apiece. Investors could make bids for a minimum of 130 equity shares and its multiples thereof. The IPO of Aeroflex Industries was subscribed a stellar 97.11 times. The portion reserved for qualified institutional bidders was booked 194.73 times while that of the non-institutional category was subscribed 126.13 times. The quota reserved for retail investors was subscribed 34.41 times. In multiple pre-IPO rounds, marquee investors of Dalal Street including Ashish Kacholia, Jagdish Master, Vikas Khemani-led Carnelian Fund and others picked up around 7 per cent stake in Aeroflex Industries. Pantomath Capital Advisors was the sole manager of the issue. Incorporated in 1993, Aeroflex Industries manufactures and supplies environment-friendly metallic flexible flow solution products. These solutions replace rubber and polymer pipes and tubes and its products have multi-purpose use and cater to numerous industry segments including fire-fighting, aviation, and space to name a few.
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