Schedule of Aeron Composite
| Issue open date | 28 Aug 2024 |
| Issue close date | 30 Aug 2024 |
| UPI mandate deadline | 30 Aug 2024 (5 PM) |
| Allotment finalization | 02 Sep 2024 |
| Refund initiation | 03 Sep 2024 |
| Share credit | 03 Sep 2024 |
| Listing date | 04 Sep 2024 |
| Mandate end date | 14 Sep 2024 |
| Lock-in end date for anchor investors (50%) | 02 Oct 2024 |
| Lock-in end date for anchor investors (remaining) | 01 Dec 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Aeron Composite
Established in 2011, Aeron Composite is engaged in the business of manufacturing and supplying fiberglass-reinforced polymer Products i.e. FRP products including FRP pultruded products, FRP moulded gratings & FRP Rods tailored for various industrial segments such as telecommunication, Oil & Gas, refineries, renewable energy, chemicals, etc. The company’s manufacturing unit at Saket Industrial Estate, Ahmedabad is ISO 9001:2015 certified. The company generates revenue from domestic operations and international endeavors in more than 30 countries across the globe, serving over 800 customers. Some of the company’s key clients include government entities such as ONGC, NTPC, GSFC, and GNFC and major corporations like Grasim Industries Limited, L&T, Tata Projects, Atul, etc.
Financials of Aeron Composite
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹56.10 crores |
| Fresh Issue | ₹56.10 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure requirements | 39.03 (69.57%) |
| General corporate purposes | 14.03 (25%) |
| Others | 3.04 (5.43%) |
Strengths
- A diverse range of fiberglass-reinforced polymer products: The company deals in a wide range of FRP products that are long-lasting as these products are corrosion resistant, lightweight, easy to install, carry low maintenance cost, etc. These features and benefits make its products better for use in various markets and applications such as telecommunication, oil & gas, refineries, renewable energy, chemicals, etc.
- Revenue from multiple geographies from various countries across the globe: The company has a healthy revenue mix of both domestic and diversified geographical locations. Its presence in multiple geographies not only helps it expand its customer base but also helps it stay in tune with the latest technological advancements.
Risks
- Underutilization of manufacturing capacities: The company has utilized 61% of its manufacturing capacities in FY24. Any inability to effectively utilize its existing manufacturing capacities could adversely affect the business and its future financial performance.
- Reliance on top clients: The company derives nearly 41% of its revenue from the top 10 customers. Any reduction in business from these customers or any other major clients could negatively impact revenue and profitability.
- Capital-intensive business: The company’s business is capital-intensive in nature. If they are unable to raise additional funds whenever required, or on terms acceptable to them, the company may be required to scale down or abandon its expansion & growth plans and/or reduce capital expenditures and the size of the operations.