Aeroflex Industries to debut on the BSE and NSE today

Flexible flow solution products maker Aeroflex Industries is ready to list its shares on the bourses today. The Mumbai-based company has collected Rs 427 crore through an initial public offering and pre-IPO placement. 

Investors responded enthusiastically to the Rs 351 crore public offering, subscribing 97.11 times between August 22 and 24. High net worth people have bid 126.13 times the authorised quota, followed by qualified institutional purchasers, who have purchased 194.73 times the reserved amount, and retail investors, who have purchased 34.41 times. 

Operating revenue expanded at a CAGR of 36 percent between FY21 and FY23, while EBITDA (earnings before interest, taxes, depreciation, and amortisation) and profit increased at CAGRs of 56 and 126 percent, respectively.

The company manufactures environment-friendly metallic flexible flow solution products like multiple variety of hoses, tubes and hose assemblies. The company’s clientele includes distributors, fabricators, maintenance repair and operations companies (MROs), original equipment manufacturers (OEMs), and companies operating in a wide range of industries. Moreover, the company has recently forayed into manufacturing products made of bronze.

Source: Media Reports