SEBI Greenlights Mumbai’s Aeroflex Industries IPO
Mumbai-based Aeroflex Industries has received the green signal from the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).
In April, the company, a subsidiary of Sat Industries, had submitted its Draft Red Herring Prospectus (DRHP) to SEBI, aiming to raise approximately ₹350 crores through the IPO.
The IPO will consist of a fresh issuance of equity shares valued at ₹160 crore, along with an offer-for-sale (OFS) of up to 1.75 crore equity shares by the promoters, selling shareholders, and the promoter group. Each equity share has a face value of ₹2.
“We are pleased to announce that our subsidiary, Aeroflex Industries Limited, has received SEBI’s approval for its upcoming IPO, pending the submission of necessary documents as per the final observation letter dated 31st July 2023,” stated Sat Industries in a recent exchange filing.
About Aeroflex Industries:
Aeroflex, Inc. is a leading manufacturer of microelectronic, test, and measurement products. The company specializes in a wide range of offerings, including avionics, mobile devices, radios, wireless networks, radiation, virtualized testing, power and avionic microelectronics, microwave technology, signal generation, and motion control products. With a diverse product portfolio, Aeroflex serves various industries, including space, avionics, defense, commercial wireless communications, medical, and more.
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