Aeron Composite Ltd, a prominent player in the fiber glass reinforced polymer industry, is set to raise up to Rs. 56.10 crore through its initial public offering (IPO), which opens on August 28, 2024, and closes on August 30, 2024. The company will issue 44.88 lakh equity shares at a price range of Rs. 121 to Rs. 125 per share. The IPO aims to support the construction of a new manufacturing unit in Mehsana, Gujarat, and fund general corporate needs. Hem Securities Ltd is the book running lead manager for this offering.
Founded in 2011 and holding an ISO 9001:2015 certification, Aeron Composite has demonstrated strong financial performance, with FY23-24 (till February 2024) revenue at Rs. 179.14 crore and a net profit of Rs. 9.42 crore. The company’s products are exported to over 30 countries.
In Guwahati, the IPO is expected to garner significant attention due to the city’s burgeoning industrial landscape and increasing demand for high-quality composite materials. Aeron Composite’s expansion plans align with the region’s growth trajectory, presenting an attractive investment opportunity for local investors and businesses seeking to leverage the company’s advanced FRP products and innovation-driven approach.
