Aeron Composite IPO Subscription Status

Aeron Composite IPO - Day 3 Subscription at 11.80 Times

Aeron Composite's initial public offering (IPO) has garnered significant attention from investors, with subscription rates soaring over the three days. Starting modestly on day one, the IPO witnessed a surge in interest, culminating in an impressive 11.80 times oversubscription by the close of day three. This remarkable response underscores the strong market appetite for Aeron Composite's shares and sets the stage for a potentially dynamic listing.

The IPO, which opened on August 28, 2024, has gradually increased investor participation across all categories. The retail segment, in particular, has shown robust demand, reflecting growing confidence among individual investors in the company's prospects. The Non-Institutional Investors (NII) category has also demonstrated solid interest, while Qualified Institutional Buyers (QIB) have steadily increased participation over the three days.

This enthusiastic response to Aeron Composite's IPO comes amid generally positive sentiment in the Indian stock market, particularly towards manufacturing companies focusing on innovative materials. The company's specialization in glass fibre-reinforced polymer (FRP) products appears to have resonated well with investors looking to be exposed to India's growing infrastructure and industrial sectors.

Subscription Status of Aeron Composite IPO for Days 1, 2, and 3:

On day 1, Aeron Composite IPO was subscribed 2.59 times. By the end of day 2, the subscription status had risen to 5.19 times; on day 3, it reached 11.80 times.

Here are the subscription details for Aeron Composite IPO as of Day 3 (August 30, 2024 at 1:23:59 PM):

Key Highlights:

The IPO of Aeron Composite is currently subscribed 11.80 times, with strong demand from Retail Individual Investors (RII).
Retail investors have shown significant strength, with a subscription ratio of 15.37 times.
The Non-Institutional Investors (NII) category subscription performs exceptionally well at 12.14 times.
Qualified Institutional Buyers (QIB) have also shown solid interest, with a subscription ratio of 5.16 times.
The overall subscription trend shows a steady increase day-on-day, pointing to building momentum and positive sentiment towards the issue.

Aeron Composite IPO - Day 2 Subscription at 5.19 Times

Key Highlights:

• Overall Subscription: 5.19 times
• Retail Investors: 6.53 times (more than double from Day 1)
• Non-Institutional Investors (NII): 4.14 times
• Qualified Institutional Buyers (QIB): 3.61 times (notable improvement from Day 1)

The overall subscription trend indicated building momentum, with all investor categories showing increased participation. The company's strong presence in the FRP products market likely contributed to the growing investor interest.

Aeron Composite IPO - Day 1 Subscription at 2.59 Times

Key Highlights:
 

• Overall Subscription: 2.59 times
• Retail Investors: 3.00 times
• Qualified Institutional Buyers (QIB): 2.62 times
• Non-Institutional Investors (NII): 1.56 times

The strong first-day response laid a solid foundation for the remaining days of the IPO, with expectations of increased participation in the following days. Market observers noted that the robust opening day response reflected investor confidence in the company's business model and growth prospects in the FRP products sector.

About Aeron Composite Limited:

• Aeron Composite Limited, established in 2011, is a leading manufacturer and supplier of glass fibre-reinforced polymer (FRP) products in India. The company specializes in high-quality FRP solutions for various industrial applications, including:
• FRP Pultruded Products: Structural profiles, corrosion-resistant components, and lightweight alternatives for construction and industrial use.
• FRP Moulded Gratings: Anti-slip, corrosion-resistant flooring solutions for industrial environments.
• FRP Rods: High-strength, lightweight rods for concrete reinforcement and electrical insulation.
• Aeron Composite offers comprehensive solutions encompassing the entire product lifecycle, from conceptual design to after-sales service. This end-to-end approach has helped the company build strong client relationships across various industries.
• The company's state-of-the-art manufacturing facility in Saket Industrial Estate spans 26,320 square metres and is ISO 9001:2015 certified. This certification covers the design, manufacture, and supply of a wide range of FRP products, including pultruded products, handrails, cable trays, fencing, gratings, cross arms, poles, rods, and moulded mounting structures for solar panels.
• As of 31st July 2024, Aeron Composite employed 433 people, reflecting its substantial operational scale and commitment to in-house expertise.
• The FRP market in India and globally is poised for significant growth, driven by increasing adoption of lightweight and corrosion-resistant materials, growing awareness of long-term cost benefits, rising demand for sustainable building materials, and expanding industries like chemical processing, water treatment, and renewable energy.
• Aeron Composite's established market position, comprehensive product range, and end-to-end service capabilities position it well to capitalize on these growth trends in the FRP sector.

Highlights of the Aeron Composite IPO:

• IPO Date: 28th August 2024 to 30th August 2024
• Listing Date: 4th September 2024 (Tentative)
• Face Value: ₹10 per share
• IPO Price Band: ₹121 to ₹125 per share
• Lot Size: 1000 Shares
• Issue Size: 4,488,000 shares (aggregating up to ₹56.10 Cr)
• Offer Type: Book Built Issue IPO (100% Fresh Issue)
• Listing At: NSE SME
• Minimum investment for retail investors: ₹125,000
• The minimum investment for Non-Institutional Investors (NII): 2 lots (2,000 shares), amounting to ₹250,000
• Book Running Lead Manager: Hem Securities Limited
• Registrar: Maashitla Securities Private Limited
• Market Maker: Hem Finlease