Aeron Composite Ltd on Saturday mentioned it has fastened the worth band at Rs 121-125 per share for its SME preliminary public providing which can open for subscription on August 28.
The corporate plans to lift as much as Rs 56.10 crore from its SME public challenge, Aeron Composite mentioned in an announcement.
The corporate has obtained approval to launch its public challenge on NSE Emerge Platform of the Nationwide Inventory Trade, it added.
The general public challenge will conclude on August 30. Buyers can bid for no less than 1,000 shares and in multiples thereof.
The IPO is totally a recent challenge of 44.88 lakh fairness shares of face worth Rs 10 every.
Retail investor quota for the preliminary public providing (IPO) is stored at not lower than 35 per cent of the web provide, Non institutional investor quota is stored at not lower than 15 per cent of the provide and QIB portion is stored at no more than 50 per cent of the provide.
The corporate has proposed to utilise IPO proceeds for funding the capital expenditure necessities in direction of organising of a further manufacturing unit at Mehsana, Gujarat and basic company functions.
The corporate reported income of Rs 179.1 crore for FY 2023-24 (until February 2024) and internet revenue stood at Rs 9.42 crore throughout the interval.
Aeron Composite Ltd is engaged within the enterprise of producing and supplying of Fiberglass Strengthened Polymer Merchandise i.E. FRP merchandise together with, FRP Pultruded Merchandise, FRP Moulded Gratings & FRP Rods tailor-made for varied industrial functions. It exports merchandise to greater than 30 international locations.
Hem Securities Ltd is the only real guide working lead supervisor, whereas Maashitla Securities Pvt Ltd is the registrar for the difficulty.
