IPO 

The IPO opened on August 28 and will close on August 30, 2024.

Shares are priced between ₹121 to ₹125, with a minimum bid requirement of 1000 shares.

Aeron Composite Ltd secured ₹15.17 crore from anchor investors by allocating 12,14,000 shares at ₹125 each.

The company manufactures Fiber Glass Reinforce Polymer (FRP) products for various industrial applications.

There are no listed firms in India directly comparable to Aeron Composite, as stated in the red herring prospectus.

The company serves over 800 clients across more than 30 countries, with significant revenue from both domestic and export sales.

Export sales contributed 56.16% of total revenue for the quarter ending February 29, 2024.

On Day 3, the IPO was subscribed 13.69 times, with retail, NII, and QIB portions subscribed 16.63, 13.37, and 8.66 times, respectively.

The ₹56.10 crore IPO includes a fresh issuance of 4,488,000 equity shares with no "offer for sale" component.

The grey market premium (GMP) is + ₹25, indicating a potential listing price of ₹150 per share, 20% higher than the IPO price.