Upcoming IPO The IRPO of stainless steel pipe maker Aeroflex Industries Limited will open for general investors from August 22 to August 24. The issue size of this IPO can be up to Rs 350 crore, which includes fresh issue as well as OFS. The company’s income in the financial year 2021-22 was around Rs 240 crore.
New Delhi, Business Desk. If you are waiting for the IPO to invest in the stock market, then the IPO of stainless steel pipe maker Aeroflex Industries Limited (Aeroflex Industries LTD) is going to open on 22 August. Investors can bid for this IPO till 24 August.
What is the issue size of Aeroflex IPO?
News agency PTI quoted a merchant banking source as saying in its report that the issue size of the IPO could be around Rs 350 crore. There will be a fresh issue of Rs 162 crore and an OFS of 1.75 crore shares.
Let me tell you, the money received under the fresh issue in IPO goes directly to the company, while the money received through OFS goes to the promoters of the company.
What will happen to the money received from the IPO?
The money received under the fresh issue in the IPO will be used by the company to pay off debt and meet the working capital requirement. In addition, some of the money will be used for acquisitions and general corporate purposes.
Aeroflex Industries Business
Mumbai-based Aeroflex Industries manufactures metallic flexible flow solutions products. The company’s business is spread in more than 80 countries along with India, which also includes Europe and America. About 80 percent of the company’s income comes from exports.
Financial Position of Aeroflex Industries
In the financial year 2021-22, the company’s income was around Rs 240 crore. During this period the company has made a profit of Rs 27.5 crore. The listing of the company’s IPO will be on NSE and BSE.