Following the successful registration of its IPO, Aeron Composite debuted on NSE SME on Thursday 4 September with a price of Rs 25, or 20 percent.
The share price of Aeron Composite opened at ₹150 against the IPO price of ₹125. After listing, the stock gained strongly and climbed 26 percent to an intraday high of ₹157.50.
Great Response From Investors
The company received nearly 41 times subscriptions. It received bids for 11.6 crore shares against an offer of 28.36 lakh shares.
The retail portion of the IPO was subscribed 34 times. Bids were made for almost 4.8 crore shares, compared to an offering of 14.2 lakh shares.
We’ll tell you that the Rs 56.10 crore Aeron Composite Initial Public Offering opened for registration on Wednesday, August 28, and ended on Friday, August 30.
The price band of this issue was ₹121 to ₹125 per share. It had a fresh issue of 44.88 lakh shares.
The company received Rs15.17 crore in anchor investor capital through the allocation of 12,14,000 equity shares for an average of Rs125 each share.
Plans Of The Company
The company plans to use the money that was raised through the IPO to finance general corporate objectives and to establish new production facilities.
Let us inform you that the company manufactures and sells fiberglass-reinforced plastic (FRP) products.
Company’s Financial Status
Its profit after tax (PAT) stood at ₹2.6 crore in FY 2021, which increased to ₹3.62 crore in FY 2022 and ₹6.61 crore in FY 2023.
For the prior fiscal year, the company’s PAT stood at Rs9.42 crore at the time of 29 February 2024.
The company’s revenue stood at ₹78.82 crore in FY 2021, ₹108.34 crore in FY 2022, and ₹179.38 crore in FY 2023.
Quick Fact
Aeron Composite
| Company name | Aeron Composite |
|---|---|
| Listing Date | September 4 |
| IPO Price | ₹125 |
| Listing Price | ₹150 |
| Highest Price | ₹157.50 |
| Gain from IPO Price | 20% |
| Gain from Listing Price | 26% |
| Subscription Ratio | 41 times |
| Retail Portion Subscription | 34 times |
| Bids Received | 11.6 crore shares |
| Offer Shares | 28.36 lakh shares |
| Retail Bids | 4.8 crore shares |
| Retail Offer | 14.2 lakh shares |
| IPO Amount Raised | ₹56.10 crore |
| Price Band | ₹121 to ₹125 |
| Fresh Issue Shares | 44.88 lakh shares |
| Anchor Investor Capital | ₹15.17 crore |
| Anchor Investor Shares | 12,14,000 shares |
| PAT FY 2021 | ₹2.6 crore |
| PAT FY 2022 | ₹3.62 crore |
| PAT FY 2023 | ₹6.61 crore |
| PAT as of February 29, 2024 | ₹9.42 crore |
| Revenue FY 2021 | ₹78.82 crore |
| Revenue FY 2022 | ₹108.34 crore |
| Revenue FY 2023 | ₹179.38 crore |
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