Mumbai-based Aeroflex Industries Ltd has garnered Rs 103.68 Crores from anchor investors ahead of its initial public offering of Rs 351 Crores, that opens for public subscription on Tuesday, August 22, 2023. The Company informed the bourses that it allocated 95,99,980 shares at Rs. 108 per share on Monday, August 21, 2023, to anchor investors.
Aeroflex Industries is a manufacturer of environment friendly Metallic Flexible Flow Solution products, catering to global markets. The Company has grown at more than 37% revenue CAGR in last 3 years, operating at more than 4.85 times asset turnover, clocking more than 20% EBITA margins and generating approximately 32% ROCE.
Diversified anchor book of Aeroflex comprises 10 anchors including mutual funds, large insurance & NBFC treasuries, AIFs and foreign portfolio institution. The institutions who participated in the anchor are the following :
Mutual Funds : Nippon Mutual Fund, Invesco Mutual Fund, White Oak Mutual Fund, BOI Mutual Fund
Institutional Treasuries : Winro Commercial India and Universal Sampo General Insurance
AIFs : Quantun State Investment Fund and Negen Undiscovered Value Fund
Foreign Institution : Societe GeneraleOut of the total anchor book, 55% allocation was made to 4 domestic mutual funds through a total of 9 schemes amounting to Rs 57 Crores. Nippon Mutual Fund took single largest allocation, approximately 20% of the total anchor book size, whereas other funds like Invesco Mutual Fund, White Oak Mutual Fund, BOI Mutual Fund, Winro Commercial and Societe Generale followed the pack.
arlier, marquee investors such as Ashish Kacholia, Jagdish Master and Vikas Khemani led Carnelian Fund and certain other investors bought approximately 7% stake in Aeroflex Industries pre-IPO.
Pantomath Capital Advisors Private Limited is the sole book running lead manager.