The issue opened for bidding on Wednesday (28 August 2024) and it will close on Friday (30 August 2024). The price band of the IPO is fixed between Rs 121 to Rs 125 per share. The minimum order quantity is 1,000 equity shares. The equity shares will list on NSE’s SME platform.

The IPO comprises fresh issue of 44,88,000 equity shares. The promoter and promoter group shareholding will dilute to 73.63% from 100% pre-issue.

About 2,28,000 equity shares will be reserved for subscription by market maker to the issue, up to 2,10,000 equity shares will be reserved for employee of the company. The net issue comprises of 40,50,000 equity shares. The issue and the net issue will constitute 26.37% and 23.80% respectively of the post offer paid up equity share capital of the company.

The company intends to utilize the net proceeds to meet funding the capital expenditure requirements towards setting up of an additional manufacturing unit and general corporate purpose.

Ahead of the Aeron Composite on Tuesday, 27 August 2024, raised Rs 15.17 crore from anchor investors. The board allotted 12.14 lakh shares at Rs 125 per share to 10 anchor investors.

Aeron Composite manufactures and supplies Fiber Glass Reinforce Polymer Products (FRP) for various industrial applications. It offers comprehensive solutions including conceptual design, prototype development, testing, manufacturing, logistic support, installation and after-sales service. The company generates revenue through both domestic operations and international ventures, serving over 800 customers across more than 30 countries worldwide. As on 31 July 2024, the company has 433 employees at various levels of the organization.

The company recorded revenue from operations of Rs 179.14 crore and net profit of Rs 9.42 crore for the period as on 29 February 2024.