Aeron Composite Ltd Sets Price Band for SME IPO

Aeron Composite Ltd has fixed the price band at Rs 121-125 per share for its SME initial public offering opening on August 28. The company aims to raise Rs 56.10 crore, with proceeds funding a new manufacturing unit and general corporate purposes. The IPO closes on August 30.

Aeron Composite Ltd announced on Saturday that its price band for the SME initial public offering (IPO) has been set at Rs 121-125 per share. The IPO is slated to open for subscription on August 28.

The company aims to raise Rs 56.10 crore through this venture, with the proceeds earmarked for capital expenditures, including the establishment of an additional manufacturing unit at Mehsana, Gujarat, and general corporate purposes.

The public issue will close on August 30, with investors eligible to bid for a minimum of 1,000 shares. Hem Securities Ltd serves as the sole book-running lead manager, and Maashitla Securities Pvt Ltd acts as the registrar for the issue.

(With inputs from agencies.)