IPO-bound Aeroflex raises Rs.41-Cr from Ashish Kacholia, Bengal Finance & Investments

Ashish Kacholia, a capital markets investor, and Bengal Finance and Investments Pvt Ltd, have purchased 4.05% of the equity shares of Aeroflex Industries Ltd, a subsidiary of publicly-traded SAT Industries, for INR 40.56 crore. Aeroflex produces and supplies environmentally friendly metallic flexible flow solution products for both domestic and international markets. It exports to the US and Europe. Aeroflex is 92.18% owned by SAT Industries. To raise around INR 350 crore through an Initial Public Offering (IPO), the company has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi).