Stainless steel flexible hose manufacturer Aeroflex Industries Ltd has received capital markets regulator Sebi’s go ahead to raise funds through an initial share-sale.
The initial public offering (IPO) consists of a fresh issue of equity shares worth up to Rs 160 crore and an offer-for-sale (OFS) of up to 1.75 crore equity shares by promoter entities — Sat Industries and Italica Global FZC, according to the draft red herring prospectus (DRHP).
The OFS comprises sale of 1.23 crore shares by Sat Industries Ltd and up to 52 lakh shares by Italica Global FZC.
At present, Sat Industries owns 92.18 per cent stake in the company, while Italica Global FZC holds 6.52 per cent stake.
“We have been informed by Aeroflex Industries Ltd, our subsidiary, that it has got clearance from the Securities and Exchange Board of India (Sebi) for its IPO, subject to the submission of requisite documents as per the final observation letter dated July 31,” Sat Industries said in a regulatory filing on …
| Subscribe To Our Free Newsletter |
