Public Market

IPO

Aeroflex Industries raises Rs.103.7 Cr from 15 anchor investors

MoneyControl  

Mumbai-based flexible flow solutions provider Aeroflex Industries has attracted INR 103.68 crore from 15 anchor investors ahead of the IPO launch. The company has allocated 95,99,980 equity shares to anchor investors at INR 108 per equity share. The 15 investors that participated in the anchor book included Nippon Life, Invesco, Winro Commercial India, Whiteoak Capital Mutual Fund, Bank of India Mutual Fund, Quatum State Investment Fund, Societe Generale, and Universal Sompo General Insurance Company. Aeroflex Industries will open its INR 351-crore public issue at a price band of INR 102-108 per share. The offering comprises a fresh issuance of shares for INR 162 crore, and an offer-for-sale (OFS) of 1.75 crore shares by promoter entity Sat Industries. The company will use the proceeds for repaying borrowings, working capital requirements, and acquisitions.