Aeron Composite Ltd on Saturday talked about it has fixed the value band at Rs 121-125 per share for its SME preliminary public offering which may open for subscription on August 28.
The company plans to raise as a lot as Rs 56.10 crore from its SME public problem, Aeron Composite talked about in an announcement.
The company has obtained approval to launch its public problem on NSE Emerge Platform of the Nationwide Stock Commerce, it added.
Most of the people problem will conclude on August 30. Patrons can bid for a minimum of 1,000 shares and in multiples thereof.
The IPO is completely a latest problem of 44.88 lakh equity shares of face value Rs 10 each.
Retail investor quota for the preliminary public offering (IPO) is saved at not decrease than 35 per cent of the net present, Non institutional investor quota is saved at not decrease than 15 per cent of the present and QIB portion is saved at not more than 50 per cent of the present.
The company has proposed to utilise IPO proceeds for funding the capital expenditure requirements in route of organising of an additional manufacturing unit at Mehsana, Gujarat and primary firm capabilities.
The company reported earnings of Rs 179.1 crore for FY 2023-24 (till February 2024) and web income stood at Rs 9.42 crore all through the interval.
Aeron Composite Ltd is engaged throughout the enterprise of manufacturing and supplying of Fiberglass Strengthened Polymer Merchandise i.E. FRP merchandise along with, FRP Pultruded Merchandise, FRP Moulded Gratings & FRP Rods tailored for diverse industrial capabilities. It exports merchandise to higher than 30 worldwide areas.
Hem Securities Ltd is the one actual information working lead supervisor, whereas Maashitla Securities Pvt Ltd is the registrar for the problem.
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