Aeron Composite Announces IPO Opening on August 28

The Aeron Composite Limited IPO is set to open for subscription on August 28, 2024, and will close on August 30, 2024. This IPO is a book-built issue worth Rs. 56.10 crores and is entirely a fresh issue consisting of 44.88 lakh shares. The company plans to list its shares on the NSE SME platform, with the tentative listing date scheduled for September 4, 2024.

Key Details of the IPO

The price band for the Aeron Composite IPO is set between Rs. 121 to Rs. 125 per share, with a face value of Rs. 10 per share. Investors can apply for a minimum of 1000 shares, requiring a minimum investment of Rs. 125,000. For High Net-worth Individuals (HNIs), the minimum application is for 2 lots, amounting to Rs. 250,000. Hem Securities Limited is the book-running lead manager for the IPO, while Maashitla Securities Private Limited is the registrar. Hem Finlease has been designated as the market maker for this issue.

Aeron Composite Limited: Company Overview

Established in 2011, Aeron Composite Limited specializes in manufacturing and supplying glass fiber-reinforced polymer (FRP) products. These include FRP pultruded products, molded gratings, and rods, tailored for various industrial applications. The company’s ISO 9001:2015 certified manufacturing facility is located in Saket Industrial Estate and covers an area of 26,320 square meters. The company offers a comprehensive range of services, including design, prototype development, testing, manufacturing, and after-sales support.

Objectives of the IPO

Aeron Composite intends to use the net proceeds from the IPO to fund the capital expenditure required for setting up an additional manufacturing unit, as well as for general corporate purposes to support the company’s overall growth and operational needs.

Conclusion: The Aeron Composite IPO presents a unique opportunity for investors looking to invest in a company with a strong presence in the FRP industry. With the funds raised, the company aims to bolster its production capabilities and pursue its growth objectives.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.