Aeroflex exports make-in-India metallic flexible flow solutions to more than 85 countries, as exports account for more than 80 per cent of the company’s total revenues. 
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Aeroflex exports make-in-India 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 Industries is likely to finalize the basis of allotment of its shares in the next week, that is Tuesday, August 29. The Rs 351-crore initial public offering (IPO) had received a super strong response from the investors during the three-day bidding process, which was open for bidding August 22-24. Aeroflex Industries sold its shares in the range of Rs 102-108 apiece. The investors made bids for a minimum of 130 equity shares and its multiples thereof. The issue included a fresh share sale of Rs 162 crore, while its promoter Sat Industries offloaded shares worth Rs 189 crore. The IPO of Aeroflex Industries was overall subscribed 97.11 times. The portion for qualified institutional bidders was booked 194.73 times, while the non-institutional investors' category was subscribed 126.13 times. The quota reserved for retail investors was subscribed 34.41 times. Grey market premium (GMP) of Aeroflex Industries has remained firm, thanks to its stellar subscription figures. The company is commanding a premium of Rs 70-75 per share in the unofficial market, which was around Rs 55-60, a day before the issue opened for bidding. The current grey market trend signals a number listing for the company. 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. 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. The company has no listed peers in the segment and enjoys a virtual monopoly in the business. Majority of the brokerage firms were positive on the issue and have suggested investors to bid for it citing its unique business model, nearly monopoly status, global footprints, strong financials, decent margins and fair pricing. However, a high dependence on exports and select clients pose a threat to the company, they highlighted as the key risks. Pantomath Capital Advisors is the sole manager to the issue, while Link Intime India has been appointed as the registrar to the issue. The company will be listed on both BSE and NSE. Investors, who had bid for the issue and have not checked their application status, can check the allotment status on the Bombay Stock Exchange (BSE) website, which is https://www.bseindia.com/investors/appli_check.aspx. They can check Equity as issue type and select the company name to proceed. One needs to only add application numbers and the PAN card ID before checking 'I am not a Robot' and hitting submit. Investors can also check the allotment status on the online portal of Link Intime India Private Limited. (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue. Select the company name from all options, if the allotment is finalized. Fill either application number, demat Account number, or PAN ID and the captcha accurately, before hitting submit. The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries. Bidders who could not get allotment in the IPO may see the initialization of refunds on Wednesday, August 30. Others, who would be allotted shares may see the credit of shares, in the Demat accounts by Thursday, August 31, which is also the date for the listing of its equity shares.
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