Aeron Composite is scheduled to hit the market on August 28, 2024 and close on August 30, 2024. Aeron Composite plans to raise around ₹56.10 Cr through an IPO with a sale of up to 4,488,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Aeron Composite Limited, established in 2011, specializes in manufacturing and supplying reinforced (P products Their range includes FRP pultruded products, moulded gratings, and rods designed for diverse industrial applications. The company provides a complete suite of services, from conceptual design and prototype development to testing, manufacturing, logistical support, installation, and after-sales service.
Located in the Saket Industrial Estate, Aeron Composite's manufacturing facility covers an area of 26,320 square meters and is ISO 9001:2015 certified. It produces a variety of FRP products such as handrails, cable trays, fencing, cross arms, poles, rods, and moulded mounting structures for solar panels. As of July 31, 2024, the company employs 433 individuals across different levels within the organization.
Aeron Composite IPO Details
Aeron Composite IPO opens on August 28, 2024, and closes on August 30, 2024. The Listing date for Aeron Composite IPO is on September 4, 2024. The price band for IPO is ₹121 to ₹125 per share and lot size of 1000 Shares.
| IPO Date | August 28, 2024 to August 30, 2024 |
| Listing Date | September 4, 2024 |
| Price | ₹121 to ₹125 per share |
| Lot Size | 1000 Shares |
| Issue Size | ₹56.10 Cr |
| Face Value | ₹10 per share |
Aeron Composite IPO Tentative Timetable
Aeron Composite opening date is August 28, 2024 and close date is August 30, 2024. The IPO allotment date is September 2, 2024. Therefund initiation of IPO is on September 3, 2024. The credit of shares in demat account is on September 3, 2024. The listing date is on September 4, 2024.
| Event | Date |
|---|---|
| IPO Opening | August 28, 2024 |
| IPO Closing | August 30, 2024 |
| IPO Allotment Date | September 2, 2024 |
| Refund Initiation | September 3, 2024 |
| Shares Credit to Demat | September 3, 2024 |
| Lisiting Date | September 4, 2024 |
Aeron Composite IPO Lot Size
Lot Size of this IPO is 1000 shares. A retail-individual investor can apply for up to 1 lots (1000 shares or ₹125,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 1000 | ₹125,000 |
| Retail(Maximum) | 1 | 1000 | ₹125,000 |
| HNI (Minimum) | 2 | 2000 | ₹250,000 |
Aeron Composite IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.63% |
Aeron Composite IPO Review
Aeron Composite Ltd. (ACL) makes and supplies Fiber Glass Reinforced Polymer (FRP) products like FRP Pultruded Products, FRP Moulded Gratings, and FRP Rods for various industries. Their products are known for being strong, lightweight, resistant to corrosion, and not conducting electricity or heat. ACL offers a range of services, starting from design and prototype development to testing, manufacturing, and after-sales support. They have an ISO 9001:2015 certified manufacturing unit and an in-house research and development team registered with the Department of Scientific & Industrial Research. ACL serves a wide range of clients, including major public sector units (PSUs) and private companies, operating in over 30 countries and having more than 800 customers. As of July 2024, ACL employed 433 people.
Financially, ACL has shown steady growth over the last three years. Their total income grew from ₹79.06 crore in FY21 to ₹181.99 crore in FY23, while net profits increased from ₹2.55 crore to ₹6.61 crore in the same time. For the 11 months ending February 29, 2024, ACL reported a net profit of ₹9.42 crore on total income of ₹180.80 crore. However, the company only provided 11-month financial results for FY24 in its IPO documents instead of full-year figures, which has raised some questions. The average earnings per share (EPS) over the last three years was ₹4.00, with a Return on Net Worth (RoNW) of 24.31%, showing good profitability. Nevertheless, the IPO is priced at a Price-to-Earnings (P/E) ratio of 20.70, suggesting that the price may be high given the company’s current performance.
ACL is raising ₹56.10 crore through its first IPO by offering 44,88,000 equity shares at a price range of ₹121-₹125 per share. The money raised will mainly be used to expand manufacturing capacity; ₹39.04 crore will go towards setting up a new manufacturing unit, and the rest will be used for general corporate needs. After the IPO, ACL’s paid-up equity capital will rise from ₹12.53 crore to ₹17.02 crore, giving the company a market value of about ₹212.75 crore at the upper price range. While ACL has shown good growth and has a solid client base, the competitive nature of the FRP industry and the high IPO price suggest that cautious investors might consider a moderate long-term investment, weighing potential risks and rewards.
Aeron Composite IPO Subscription Status (Bidding Details)
Table not foundAeron Composite IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Aeron Composite IPO FAQs
What is Aeron Composite IPO?
Aeron Composite is issuing 4,488,000 equity shares with a face value of ₹10 each, totaling up to ₹56.10 Cr. The shares are being offered at a price of ₹121 to ₹125 each, with a minimum order quantity of 1000 shares.
Maashitla Securities Private Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Aeron Composite IPO will open?
Aeron Composite will open on August 28, 2024 for QIB, NII, and Retail Investors.
When Aeron Composite IPO will end?
Aeron Composite will end on August 30, 2024.
What is Aeron Composite IPO Size?
Aeron Composite IPO size is ₹56.10 Cr.
What is Aeron Composite IPO Price Band?
Aeron Composite price band is ₹121 to ₹125 per share.
What is the Aeron Composite IPO Allotment Date?
Aeron Composite allotment date is September 02, 2024.
What is the Aeron Composite IPO Listing Date?
Aeron Composite listing date is September 04, 2024. The IPO is to be listed on BSE and NSE.
How to Aeron Composite IPO through Zerodha?
To apply for the IPO “Aeron Composite” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Aeron Composite IPO through Upstox?
To apply for the IPO “Aeron Composite” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Aeron Composite IPO Allotment Status?
For Aeron Composite IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Aeron Composite IPO GMP?
You can check out here: Aeron Composite IPO GMP. Check all IPO GMP here.