Aeron Composite IPO will open for subscription from 28 August 2024. The company aims for an issue size of ₹56.10 Cr through this IPO.
Company Overview
| Full name | Aeron Composite Limited |
| Sector | Plastic Products |
| Industry | Plastic Products |
| Company Website | https://www.aeroncomposite.com/ |
About Company
Aeron Composite is engaged in the business of manufacturing and supplying fiberglass-reinforced polymer products like FRP Pultruded Products, FRP Moulded Gratings, and FRP Rods tailored for various industrial applications. It provides comprehensive solutions that include conceptual design, prototype development, testing, manufacturing, logistic support, installation, and after-sales service.
The company’s manufacturing unit is located at Saket Industrial Estate in Ahmedabad. Aeron Composite has operations from more than 30 countries across the globe, serving over 800 customers. Its prominent clients include government entities such as ONGC Tripura Power, NTPC, Gujarat State Fertilizers, and Gujarat Narmada Valley Fertilizers as well as major corporations like Grasim Industries, Larsen & Toubro, TATA Projects, Atul. As of 30 April 2024, Aeron Composite has 768 employees on payroll including contractual labour.
The Objectives of the Issue
- Funding the Capital Expenditure requirements for setting up an additional manufacturing unit
- General Corporate Purpose
Aeron Composite IPO Timetable
| IPO Opening date | 28 August 2024 |
| IPO Closing | 30 August 2024 |
| Basis of Allotment | 02 September 2024 |
| Initiation Refund | 03 September 2024 |
| Credit to Demat Account | 03 September 2024 |
| Listing Date | 04 September 2024 |
Aeron Composite IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹56.10 Cr – 4,488,000 shares |
| Fresh Issue | ₹56.10 Cr – 4,488,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹121 to ₹125 per share |
| Lot size | 1000 Shares |
| Market Maker portion | 228,000 shares |
| Shareholding pre-issue | 12,532,000 |
| Shareholding post-issue | 17,020,000 |
| Listing Exchange | NSE SME |
Aeron Composite IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹125,000 |
| Retail (Max) | 1 | 1000 | ₹125,000 |
| HNI (Min) | 2 | 2,000 | ₹250,000 |
Aeron Composite Offer Documents
Aeron Composite IPO Reservation Details
Aeron Composite IPO offers 42,78,000 shares. 8,10,000 (18.93%) to QIB, 6,08,000 (14.21%) to NII, 14,18,000 (33.15%) to RII and 12,14,000 (28.38%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 12,14,000 (28.38%) |
| Market Maker Shares Offered | 2,28,000 (5.33%) |
| QIB Shares Offered | 8,10,000 (18.93%) |
| NII (HNI) Shares Offered | 6,08,000 (14.21%) |
| Retail Shares Offered | 14,18,000 (33.15%) |
| Total Shares Offered | 42,78,000 (100%) |
Aeron Composite Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 11M FY 2024 | |
| Revenue | 78.82 | 108.34 | 179.38 | 179.14 |
| Expenses | 75.41 | 104.91 | 172.43 | 167.44 |
| Net income | 2.55 | 3.62 | 6.61 | 9.42 |
Aeron Composite Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 2.08 | 2.95 | 5.33 |
| PE ratio | – | – | 22.70 – 23.45 |
| RONW (%) | 21.13 | 23.25 | 26.07 |
| NAV | 9.85 | 12.70 | 20.44 |
| ROCE (%) | 20.03 | 20.97 | 27.52 |
| EBITDA (%) | 7.75 | 5.53 | 5.48 |
| Debt/Equity | 0.86 | 0.81 | 0.55 |
Company Promoters
- Dilipkumar Ratilal Patel
- Chirag Chandulal Patel
- Pankaj Shantilal Dadhaniya
- Ravi Pankajkumar Patel
- A. International Private Limited
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 73.63% |
Aeron Composite Offer GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 2 September 2024 | 30 | – | 24,000 |
| 31 August 2024 | 25 | – | 21,000 |
Aeron Composite IPO Subscription Update
| Category | QIB | NII | Retail | Employee | Total |
| Shares Offered | 8,10,000 | 6,08,000 | 14,18,000 | 2,10,000 | 30,46,000 |
| 30 Aug 2024 | 27.82 | 75.90 | 33.77 | 0.58 | 38.31 |
| 29 Aug 2024 | 3.61 | 4.49 | 6.31 | 0.10 | 4.80 |
| 28 Aug 2024 | 2.62 | 1.54 | 2.90 | 0.07 | 2.36 |
Aeron Composite IPO Allotment Status
Aeron Composite IPO allotment status will be available on Maashitla Service’s website. Click on Maashitla IPO weblink to get allotment status.
Aeron Composite IPO Listing Details
| Listing Date | 04 September 2024 |
| BSE Scrip Code | Coming Soon |
| NSE Symbol | |
| ISIN | |
| Final Issue Price |
Listing Day Update
| Listing Exchange | NSE |
| Final Issue Price | Coming Soon |
| Open | |
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Aeron Composite IPO Lead Manager(s)
HEM SECURITIES LIMITED
904, A wing, 9 Floor, Naman Midtown,
Senapati Bapat Marg, Elphinstone Road,
Lower Parel, Mumbai 400 013.
Phone: +91- 22- 4906 0000
Email: ib@hemsecurities.com
Website: www.hemsecurities.com
Aeron Composite Registrar
MAASHITLA SECURITIES PRIVATE LIMITED
451, Krishna Apra Business Square, Netaji Subhash
Place, Pitampura, Delhi – 110034, India
Telephone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: Investor.ipo@maashitla.com
Aeron Composite Contact Details
AERON COMPOSITE LIMITED
Saket Ind. Estate, Plot No. 30/31, Sarkhej Bavla
Highway, Village Moraiya, Changodar,
Ahmedabad382213, Gujarat, India,
Phone: +91 9909988266
E-mail: cs@aeroncomposite.com
Website: www.aeroncomposite.com
Aeron Composite IPO FAQs
What is Aeron Composite’s offer size?
Aeron Composite’s offer size is ₹ 54.30 – 56.10 crores.
What is Aeron Composite offer price band?
Aeron Composite public offer price is ₹ 121 – 125 per share.
What is the lot size of Aeron Composite Offer?
Aeron Composite offer lot size is 1,000 shares.
What is Aeron Composite Offer GMP today?
Aeron Composite IPO GMP today is ₹ 30 per share.
What is Aeron Composite kostak rate today?
Aeron Composite kostak rate today is ₹ NA per application.
What is Aeron Composite IPO Subject to Sauda rate today?
Aeron Composite’s Subject to Sauda rate today is ₹ 24,000 per application.
Final thoughts
Aeron Composite IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
