Cryptopolytech (CPT) Public Press Pass (PPP)
News of the Day COVERAGE
200000048 – World Newser
•| #World |•| #Online |•| #Media |•| #Outlet |
View more Headlines & Breaking News here, as covered by cryptopolytech.com
Aeroflex Industries fixes price band at Rs 102-108 for Rs 351-crore IPO appeared on www.moneycontrol.com by .
Aeroflex Industries to raise Rs 351 crore via IPO
Metallic flexible flow solution products maker Aeroflex Industries has set a price band at Rs 102-108 per share for its initial public offering.
The company intends to raise Rs 351 crore via public issue at the upper price band. The IPO comprises a fresh issue of Rs 162 crore by the company and an offer for the sale of 1.75 crore equity shares by the promoter Sat Industries.
The offer includes a reservation of 5 lakh equity shares for shareholders of the holding company.
The maiden public issue will open for subscription on August 22 and the closing date would be August 24, which was earlier supposed to open during August 21-23. The anchor book will be launched for a day on August 21, a day before the issue opening.
Half of the offer size is reserved for qualified institutional buyers, of which up to 60 percent may be allocated to anchor investors. The balance 50 percent of the total offer is divided between high net worth individuals with 15 percent reservation and 35 percent for retail investors.
Also read: RK Swamy files for IPO, first by an integrated marketing services group
Investors can bid for a minimum of 130 equity shares and in multiples of 130 shares thereafter. Retail investors can invest a minimum of Rs 14,040 per lot (of 130 shares), and their maximum investment would be Rs 1,96,560 for 14 lots (1,820 shares).
The flexible hose manufacturer, which earned more than 80 percent of business via exports, will utilise fresh issue proceeds for repaying certain outstanding secured borrowings (Rs 32 crore), and funding working capital requirements (Rs 84 crore), besides general corporate purposes and unidentified inorganic acquisitions.
Aeroflex Industries manufactures braided hoses, unbraided hoses, solar hoses, gas hoses, vacuum hoses, braiding, interlock hoses, hose assemblies, lancing hose assemblies etc as flexible flow solutions catering to global as well as domestic markets.
The listing of its equity shares on the bourses will take place on September 1.
FEATURED ‘News of the Day’, as reported by public domain newswires.
View ALL Headlines & Breaking News here.
Source Information (if available)
This article originally appeared on www.moneycontrol.com by – sharing via newswires in the public domain, repeatedly. News articles have become eerily similar to manufacturer descriptions.
We will happily entertain any content removal requests, simply reach out to us. In the interim, please perform due diligence and place any content you deem “privileged” behind a subscription and/or paywall.
CPT (CryptoPolyTech) PPP (Public Press Pass) Coverage features stories and headlines you may not otherwise see due to the manipulation of mass media.
First to share? If share image does not populate, please close the share box & re-open or reload page to load the image, Thanks!