MUMBAI, 15 MAY, 2023 (GPN):Reputed Capital Markets investor Ashish Kacholia – who is fondly called as Big Whale of Dalal Street – along with Bengal Finance and Investments Pvt Ltd on Monday bought 4.05% equity shares of Aeroflex Industries Limited, material subsidiary of SAT Industries, according to a stock exchange filing on BSE and NSE. 

The shares were bought for an aggregate amount of Rs 40.56 Crores.

The renowned investor has investments in more than 40 stocks and has a varied portfolio that includes hospitality, education, infra, and manufacturing stocks, as per exchange filings.

Aeroflex Industries, a subsidiary of listed SAT Industries Ltd are manufacturers and suppliers of environment friendly metallic flexible flow solution products catering to global as well as domestic markets. It exports its products to more than 80 countries including Europe, USA and others, whereas its Parent SAT Industries is a diversified business group engaged in various business activities such as manufacturing, education, leasing, finance, investments, domestic trading and import and export through its group companies. 

SAT Industries holds 92.18% in Aeroflex Industries Ltd.

Aeroflex Industries ‘manufacturing facility and NABL accredited R&D lab are situated at Taloja, Navi Mumbai. The Company has recently filed its Draft Red Herring Prospectus (DRHP) with SEBI to raise about Rs. 350 crores through an Initial Public Offering (IPO).

The Offer with a face value of Rs 2 per equity share consists of a fresh issue of equity shares worth up to Rs. 160 crores and an offer-for-sale (OFS) of up to 17.5 million equity shares by promoters selling shareholders and promoter group.Ends