Business

Aeron Compound set price band at Rs 121-125 a share for Rs 56 cr IPO IPO News

.The IPO is actually entirely a fresh issue of 44.88 lakh equity shares of face value Rs 10 each.2 min reviewed Final Updated: Aug 24 2024|4:10 PM IST.Aeron Compound Ltd on Sunday claimed it has actually corrected the cost band at Rs 121-125 per allotment for its own SME initial public offering which will certainly open for membership on August 28.The provider considers to raise approximately Rs 56.10 crore coming from its own SME public concern, Aeron Compound pointed out in a claim.The company has actually received commendation to release its public concern on NSE Emerge Platform of the National Stock Market, it incorporated.The public concern is going to end on August 30. Financiers can easily purpose a lowest of 1,000 reveals as well as in multiples thereof.The IPO is completely a fresh concern of 44.88 lakh equity reveals of face value Rs 10 each.Retail financier percentage for the going public (IPO) is kept at not lower than 35 percent of the internet provide, Non institutional entrepreneur quota is maintained not lower than 15 percent of the provide as well as QIB portion is actually maintained certainly not greater than fifty per cent of the provide.The provider has actually proposed to make use of IPO earnings for cashing the capital investment demands in the direction of establishing of an additional manufacturing unit at Mehsana, Gujarat and also general company purposes.The firm stated earnings of Rs 179.1 crore for FY 2023-24 (till February 2024) and also net income stood up at Rs 9.42 crore during the course of the period.Aeron Composite Ltd is participated in business of production and supplying of Fiberglass Reinforced Polymer Products i.e. FRP items including, FRP Pultruded Products, FRP Moulded Gratings &amp FRP Rods modified for a variety of commercial functions.It transports products to more than 30 countries.Hem Stocks Ltd is actually the single publication operating lead manager, while Maashitla Stocks Pvt Ltd is actually the registrar for the problem.( Just the heading and also image of this record might possess been reworked due to the Organization Specification staff the rest of the material is auto-generated from a syndicated feed.) First Posted: Aug 24 2024|4:10 PM IST.