MUMBAI, 31 AUGUST, 2023 (GPN): Aeroflex Industries Limited (‘Aeroflex” or “the Company”) is a manufacturer of environment friendly Metallic Flexible Flow Solution products, catering to global markets and exporting its products to more than 80 countries including Europe, USA and others, generating more than 80% of its revenue from exports makes a strong debut at 83% premium on the exchanges to close over Rs 163 per share.

The scrip listed at Rs 197.40 per share on BSE, a premium of 82.78% and at Rs 190 per share on NSE, a premium of 75.93%. The company’s share price closed at Rs 163.15 per share on the BSE, an 51.06% premium, and at Rs 163.60 per share on the NSE, an 51.48% premium.

As per NSE, the total quantity traded stood at 360.98 lakh shares, on BSE the total Quantity stood at 33.15 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 694.75 crore. 

The Market Capitalization of the Company at today’s closing price stood at Rs. 2109.86 Crore as per BSE and Rs. 2115.68 Crore as per NSE.

Aeroflex’s solutions find application in a wide spectrum of industries for controlled flow of all forms of substances including air, liquid and solid. The Company’s manufacturing facility and NABL accredited R&D lab are situated at Taloja, Navi Mumbai. The Company has filed its Draft Red Herring Prospectus (DRHP) with SEBI to raise about Rs. 350 crores through an Initial Public Offering (IPO).

Aeroflex is subsidiary of Sat Industries Limited which is also listed on BSE and NSE. Both Aeroflex and Sat Industries Limited have dividend payment history. Sat Industries Limited has track record of scaling up of multiple diverse businesses backed by acquisition led strategy.

Flexible flow solutions play a critical role in transfer of substances (air, liquid and solid) in any industrial or commercial ecosystem, connecting the origin and end points of various processes. The Company offers its products under more than 1,700 SKUs (Stock Keeping Units). The Company has recently developed products made of bronze as well and has a pipeline of more than 55 products as on date. Given the complexity of the research and product development, varying product applications, necessary technical expertise, precision involved, lengthy and stringent customer qualification processes, Aeroflex’s business model poses significant entry barriers (to new entrants) as well as exit barriers (to existing customers).Ends