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Aeron Composite Ltd raises Rs. 15.17 crore from Anchor Investors
Ahmedabad (Gujarat) [India], August 28: Ahmedabad-based Aeron Composite Ltd, a leading company engaged in manufacturing and supply of fibreglass reinforced polymer products, has raised Rs. 15.17 crore from anchor investors on August 27, a day before its public issue opens for a subscription. Company allotted 12,14,000 equity shares at Rs. 125 per share (including a [...]
Ahmedabad (Gujarat) [India], August 28: Ahmedabad-based Aeron Composite Ltd, a leading company engaged in manufacturing and supply of fibreglass reinforced polymer products, has raised Rs. 15.17 crore from anchor investors on August 27, a day before its public issue opens for a subscription. Company allotted 12,14,000 equity shares at Rs. 125 per share (including a share premium of Rs. 115 per share) at its board meeting held on August 27, 2024, in consultation with the Book Running Lead Manager to the Issue. Company’s Rs. 56.10 crore Public issue of the company opens for subscription on August 28 and closes on August 30. Company’s shares will be listed on the NSE Emerge Platform of the National Stock Exchange.
Out of the proceeds of the public issue, Rs. 39 crores will be utilized to fund the capital expenditure requirements towards setting up of a manufacturing unit at Mehsana, Gujarat and general corporate purpose. Hem Securities Ltd is the book running lead manager of the issue.
The initial public offering of Rs. 56.10 crore comprises a fresh issue of 44.88 lakh equity shares of face value of Rs. 10 each. Company has finalized a price band of Rs. 121-125 per equity share for the public issue. The minimum lot size for retail investors is 1,000 shares, amounting to a minimum investment of Rs 1,25,000 at the upper price band of Rs. 125 per share. The retail investor quota for the IPO is kept at not less than 35% of the net offer, the HNI quota is kept at not less than 15% of the offer, and the QIB portion is kept at not more than 50% of the offer.
