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19 Dec 2024
Aeron Composite Limited IPO And Its GMP
Aeron Composite Limited is engaged in the business of manufacturing and supplying fiberglass glass-reinforced polymer Products i.e. FRP products including FRP Pultruded Products, FRP Moulded Gratings & FRP Rods tailored for various industrial applications.
They provide comprehensive solutions which include conceptual design, prototype development, testing, manufacturing, logistic support, installation and after-sales service. FRP product is a composite material consisting of a polymer matrix (resins) reinforced with fibers such as fiberglass, carbon or aramid. This combination offers numerous benefits, including corrosion resistance, chemical resistance, high strength, lightweight properties, electrical and thermal non-conductivity, and ease of fabrication.
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Total Issue Size:
₹56.10 crores
- ● Entirely Fresh Issue: 44.88 lakh shares
Subscription Dates: Opens on August 28, 2024, and closes on August 30, 2024.
Price Band: ₹121 to ₹125 per share.
Minimum Lot Size: 1,000 shares.
Book Running Lead Manager: Hem Securities Limited
Registrar: Maashitla Securities Private Limited
Market Maker: Hem Finlease
WHAT IS GMP?
GMP stands for Grey Market Premium, and if you are planning your IPO then GMP plays an important role. A grey market is a place where stocks/shares get traded before getting officially listed on any stock exchange. The difference between the IPO price and the grey market price is known as GMP (grey market premium). GMP is a premium amount paid at which initial public offering (IPO) shares are traded before it is listed on the stock exchanges.
Aeron Composite Limited IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 30-08-2024 | 125 | 25.0 (20%) | 30-Aug-2024 13:10 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Aeron Composite IPO Overview
| Detail | Description |
|---|---|
| IPO Date | August 28, 2024 to August 30, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹121 to ₹125 per share |
| Lot Size | 1000 Shares |
| Total Issue Size | 4,488,000 shares (aggregating up to ₹56.10 Cr) |
| Fresh Issue | 4,488,000 shares (aggregating up to ₹56.10 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 12,532,000 |
| Shareholding post issue | 17,020,000 |
| Market Maker portion | 228,000 shares Hem Finlease |
Aeron Composite IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Wednesday, August 28, 2024 |
| IPO Close Date | Friday, August 30, 2024 |
| Basis of Allotment | Monday, September 2, 2024 |
| Initiation of Refunds | Tuesday, September 3, 2024 |
| Credit of Shares to Demat | Tuesday, September 3, 2024 |
| Listing Date | Wednesday, September 4, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 30, 2024 |
Aeron Composite IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹125,000 |
| Retail (Max) | 1 | 1000 | ₹125,000 |
| HNI (Min) | 2 | 2,000 | ₹250,000 |
Aeron Composite IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Aeron Composite IPO Promoter Holding
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 73.63% |
Company & Financials
Aeron Composite Limited was established in 2011 and is engaged in the manufacture and supply of glass fiber-reinforced polymer products i.e. FRP products including FRP Pultruded Products, FRP Moulded Gratings & FRP Rods tailored for various industrial applications. The company offers comprehensive solutions that include conceptual design, prototype development, testing, manufacturing, logistical support, installation and after-sales service. The company's manufacturing facility is located in Saket Industrial Estate and is spread over 26320 square meters. The manufacturing facility is ISO 9001:2015 certified for the design, manufacture and supply of FRP pultruded products, FRP Handrails, FRP cable trays, FRP fencing, FRP molded gratings, FRP Cross arm, FRP poles, FRP rods and molded mounting structures for solar panels (MMS).
Aeron Composite Limited Financial Information
| Period Ended | 29 Feb 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 9,979.42 | 6,910.21 | 6,063.23 | 4,360.19 | ||||||||||||||||||||||||||||||||||||
| Revenue | 18,080.35 | 18,199.26 | 10,992.5 | 7,906.12 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 942.23 | 661.15 | 362.12 | 255.3 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 3,478.19 | 2,535.96 | 1,557.35 | 1,208.23 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 3,321.54 | 2,379.31 | 1,427.35 | 1,078.23 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 1,208.23 | 1,399.62 | 1,255.54 | 1,042.7 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 31.33 |
| ROCE | 29.67 |
| Debt/Equity | 0.35 |
| RoNW | 27.09 |
| P/BV | 4.5 |
| PAT Margin (%) | 5.26 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.28 | 6.04 |
| P/E (x) | 23.69 | 20.7 |
Objectives of Aeron Composite IPO
The company intends to use the net proceeds from the issue towards the following objectives:
- 1. Funding the Capital Expenditure requirements towards setting up an additional manufacturing unit.
- 2. General Corporate Purpose.
Aeron Composite IPO Review
The company is engaged in FRP and MMS-related products and has posted growth in its top and bottom lines for the reported periods. It is operating in a competitive and fragmented segment. Based on annualized FY24 earnings, the issue appears relatively fully priced. Well-informed investors may park moderate funds for the long term.
FAQs for Aeron Composite IPO
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RHP:
RHP of Aeron Composite Limited IPO.
DRHP:
DRHP of Aeron Composite Limited IPO.
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