Aeron Composite IPO to open on August 28: Check issue size, price band and other key details

Aeron Composite IPO will open for subscription on Wednesday, August 28. The initial public offering, which will conclude on Friday, August 30, has set a price band of ₹121-125 per share.

The ₹56.10 crore IPO is solely a fresh issuance of 44.88 lakh equity shares with a face value of ₹10 each. The company's shares will be listed on the Emerge Platform of the National Stock Exchange (NSE).

An investor can bid for at least 1,000 equity shares and in multiples after that.

The company has set aside 50% of the net offer for qualified institutional buyers (QIBs), 35% for retail investors and the remaining 15% for non-institutional investors.

The SME IPO proceeds will be used to fund capital expenditure requirements for setting up an additional manufacturing plant at Gujarat's Mehsana and for general corporate purposes.

Hem Securities Limited is the book-running lead manager for the issue, while Maashitla Securities Pvt Ltd is the registrar.

About Aeron Composite

Aeron Composite manufactures and supplies fibreglass-reinforced polymer products, including FRP moulded gratings, FRP pultruded products and FRP rods tailored for various industrial applications. Its products are exported to more than 30 countries.

The company had reported a revenue of ₹179.1 crore for the financial year 2023-24 (till February 2024). The net profit was ₹9.42 crore during the mentioned period.