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Aeron Composite IPO is a book built issue of Rs 56.10 crores. The issue is entirely a fresh issue of 44.88 lakh shares.
Aeron Composite IPO opens for subscription on August 28, 2024 and closes on August 30, 2024. The allotment for the Aeron Composite IPO is expected to be finalized on Monday, September 2, 2024. Aeron Composite IPO will list on NSE SME with tentative listing date fixed as Wednesday, September 4, 2024.
Aeron Composite IPO price band is set at ₹121 to ₹125 per share. The minimum lot size for an application is 1000 Shares. The minimum amount of investment required by retail investors is ₹125,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to ₹250,000.
Hem Securities Limited is the book running lead manager of the Aeron Composite IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for Aeron Composite IPO is Hem Finlease.
Refer to Aeron Composite IPO RHP for detailed information.
| IPO Date | August 28, 2024 to August 30, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹121 to ₹125 per share |
| Lot Size | 1000 Shares |
| Total Issue Size | 4,488,000 shares (aggregating up to ₹56.10 Cr) |
| Fresh Issue | 4,488,000 shares (aggregating up to ₹56.10 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 12,532,000 |
| Share holding post issue | 17,020,000 |
| Market Maker portion | 228,000 shares Hem Finlease |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Aeron Composite IPO opens on August 28, 2024, and closes on August 30, 2024.
| IPO Open Date | Wednesday, August 28, 2024 |
| IPO Close Date | Friday, August 30, 2024 |
| Basis of Allotment | Monday, September 2, 2024 |
| Initiation of Refunds | Tuesday, September 3, 2024 |
| Credit of Shares to Demat | Tuesday, September 3, 2024 |
| Listing Date | Wednesday, September 4, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 30, 2024 |
Investors can bid for a minimum of 1000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹125,000 |
| Retail (Max) | 1 | 1000 | ₹125,000 |
| HNI (Min) | 2 | 2,000 | ₹250,000 |
| Lot Size Calculator | |||
Dilipkumar Ratilal Patel, Chirag Chandulal Patel, Pankaj Shantilal Dadhaniya, Ravi Pankajkumar Patel and A. International Private Limited are the company's promoters.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 73.63% |
Aeron Composite Limited was established in 2011 and is engaged in the manufacture and supply of glass fibre reinforced polymer products i.e. FRP products including FRP Pultruded Products, FRP Moulded Gratings & FRP Rods tailored for various industrial applications.
The company offers comprehensive solutions that include conceptual design, prototype development, testing, manufacturing, logistical support, installation and after-sales service.
The company's manufacturing facility is located in Saket Industrial Estate and is spread over 26320 square metres. The manufacturing facility is ISO 9001:2015 certified for the design, manufacture and supply of FRP pultruded products, FRP Handrails, FRP cable trays, FRP fencing, FRP moulded gratings, FRP Cross arm, FRP poles, FRP rods and moulded mounting structures for solar panels (MMS).
As of July 31,2024, the company employed 433 people at various levels of the organisation.
| Period Ended | 29 Feb 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 9,979.42 | 6,910.21 | 6,063.23 | 4,360.19 | ||||||||||||||||||||||||||||||||||||
| Revenue | 18,080.35 | 18,199.26 | 10,992.5 | 7,906.12 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 942.23 | 661.15 | 362.12 | 255.3 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 3,478.19 | 2,535.96 | 1,557.35 | 1,208.23 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 3,321.54 | 2,379.31 | 1,427.35 | 1,078.23 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 1,208.23 | 1,399.62 | 1,255.54 | 1,042.7 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
The market capitalization of Aeron Composite IPO is Rs 212.75 Cr.
KPI as of February 29, 2024.
| KPI | Values |
|---|---|
| ROE | 31.33 |
| ROCE | 29.67 |
| Debt/Equity | 0.35 |
| RoNW | 27.09 |
| P/BV | 4.5 |
| PAT Margin (%) | 5.26 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.28 | 6.04 |
| P/E (x) | 23.69 | 20.7 |
The company intends to use the net proceeds from the issue towards the following objectives:
[Dilip Davda] The company is engaged in FRP and MMS related products and has posted growth in its top and bottom lines for the reported periods. It is operating in a competitive and fragmented segment. Based on annualized FY24 earnings, the issue appears relatively fully priced. Well-informed investors may park moderate funds for long term. Read detail review...
Aeron Composite Limited
Saket Ind. Estate, Plot No. 30/31,
Sarkhej Bavla Highway, Village Moraiya,
Changodar, Ahmedabad - 382213
Phone: +91 9909988266
Email: cs@aeroncomposite.com
Website: https://www.aeroncomposite.com/
Maashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues
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Aeron Composite IPO is a SME IPO of 4,488,000 equity shares of the face value of ₹10 aggregating up to ₹56.10 Crores. The issue is priced at ₹121 to ₹125 per share. The minimum order quantity is 1000 Shares.
The IPO opens on August 28, 2024, and closes on August 30, 2024.
Maashitla Securities Private Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Aeron Composite IPO using UPI as a payment gateway. Zerodha customers can apply in Aeron Composite IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Aeron Composite IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Aeron Composite IPO opens on August 28, 2024 and closes on August 30, 2024.
Aeron Composite IPO lot size is 1000 Shares, and the minimum amount required is ₹125,000.
You can apply in Aeron Composite IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Aeron Composite IPO will be done on Monday, September 2, 2024, and the allotted shares will be credited to your demat account by Tuesday, September 3, 2024. Check the Aeron Composite IPO allotment status.
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