Aeroflex Industries is planning to go public through an initial public offering (IPO) this month.
Aeroflex Industries Limited is a leading manufacturer of metallic flexible flow solutions in India.
They supply environment-friendly metallic flexible flow solution products that replace rubber and polymer pipes and tubes and their products.
Their products include corrugated stainless steel hoses, double interlock flexible metal hoses, composite hoses, and stainless steel hose assemblies.
They cater to numerous industry segments like fire-fighting, aviation, space, power, oil and gas, and chemicals, to name a few.
In the financial year 2022-23, Aeroflex Industries reported revenue of ₹269.48 crores and profit after tax of ₹30.1 crores.
Their IPO consists of a fresh issue of 15,000,000 equity shares worth ₹162 crores and an Offer-for-Sale (OFS) of 1,75,00,000 equity shares.
The company raised Rs 351 crore from its IPO offering shares at Rs 102-108 per share during the 3-day bidding period.
The proceeds from the IPO will be used to expand the company's manufacturing capacity, develop new products, and repay debt.