Aeroflex Industries IPO: Aeroflex Industries shares listed at 83% premium over IPO price on NSE and BSE amid flat domestic market. The share debuted at Rs 197.40 on the BSE, as compared to the issue price of Rs 108. Aeroflex Industries shares’ grey market premium gained 66% on Thursday, commanding a premium of Rs 71 over upper end of the IPO price, implying a listing price of Rs 179 per share.
Aeroflex Industries IPO subscription data
Aeroflex Industries IPO opened for subscription on 22 August and the issue was fully subscribed 97.11 times on the last day of subscription, helped by overwhelming participation from institutional investors. The Qualified Institutional Buyers (QIBs) category was subscribed 194.73 times, the portion for non-institutional investors received 126.13 times subscription and Retail Individual Investors (RIIs) quota got oversubscribed by 34.41 times.
“On FY23 financials, the IPO is valued at 42x P/E, 26.6xEV/EBITDA and 5.3x EV/Sales. The company is likely to benefit from growth prospects in traditional industrial segments like manufacturing, automotive, oil & gas among others as well as emerging industries like solar, lithium-Ion battery management and robotics among others. Moreover, a strong track record of commercialising and scaling up new products and R&D capabilities puts the company in a good position to capture the requirements of diverse end user industrial sectors. In view of diversified product portfolio, strong financials, global footprint, focus on expanding its capacities, products and R&D capabilities, we recommend a SUBSCRIBE to the issue,” said Reliance Securities.
About Aeroflex Industries
Aeroflex Industries, a subsidiary of SAT Industries manufactures and supplies 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. The company’s products replace flow solutions made of rubber and polymers. Flexible flow solutions made with stainless steel corrugation are becoming a preferred solution because of their advantages. The company recorded more than 1,700 product SKUs (Stock Keeping Units) in its product portfolio.