Aeroflex Industries IPO : How to check the Allotment Status

Aeroflex Industries Ltd IPO gets a strong response

The ₹351 crore IPO of Aeroflex Industries Ltd, consisted of an offer for sale (OFS) and a fresh issue combined. The Fresh issue was to the tune of ₹162 crore while the OFS portion was to the tune of ₹189 crore. Thus, there is transfer of ownership via OFS and also dilution of equity via fresh issue in this case. The issue was overall subscribed 97.07 times, with the maximum subscription coming from the QIB segment, which got subscribed over 194.73 times. While the HNI / NII segment got subscribed about 126.10 times, the retail portion got subscribed a more modest 34.35 times. Most of the QIB subscriptions came in on the last day of the IPO, which is the norm. The price band for the IPO was ₹102 to ₹108, and looking at the response, it looks fairly likely that the price discovery would eventually happen at the upper end of the price band.

When will the basis of allotment be finalized

The first step for checking the allotment status of the IPO online is the completion of the basis of allotment of Aeroflex Industries Ltd. The basis of allotment will be finalized late on Tuesday, 29th August 2023. The refunds will be initiated by the company on 30th August 2023. The demat credits are expected to happen on 31st August 2023 while the listing of the stock on the NSE and the BSE will also happen on 31st August 2023. In between there is a weekend so the allotment status gets delayed by a couple of days. If you have applied for the IPO, you can check your allotment status online.

You can either check your allotment status on the BSE website or the IPO registrar, Link Intime India Private Limited. Here are the steps.

Checking the allotment status of Aeroflex Industries Ltd on BSE website

This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. You can still access the allotment status on the website of BSE India as under. Visit the BSE link for the IPO allotment by clicking on the link below. 

https://www.bseindia.com/investors/appli_check.aspx 

Once you reach the page, here are the steps to follow.

• Under Issue Type – Select Equity Option
• Under Issue Name – Select Aeroflex Industries Ltd from the drop down box
• Enter the Application Number exactly as in the acknowledgement slip
• Enter the PAN (10-digit alphanumeric) number
• Once this is done, you need to click on the Captcha to verify that you are not a robot
• Finally click on the Search Button

In the past, while checking the allotment status on the BSE website, it was necessary to input the PAN number and the application Number. However, now BSE has modified the requirements and it is sufficient if you enter any one of these parameters.

The allotment status will be displayed on the screen in front of you informing about the number of shares of Aeroflex Industries Ltd allotted into your demat account. It is always advisable to save a screenshot of the allotment status output for subsequently verifying with the demat account credits.

Checking the allotment status of Aeroflex Industries Ltd on Link Intime India Private Limited (Registrar to the IPO)

Here are the steps to follow. Visit the Link Intime registrar website for IPO status by clicking on the link below.

Alternatively, if you are not able to click on the URL, then you can also cut this link and paste it on the address bar of your browser to access the page.

https://linkintime.co.in/IPO/public-issues.html

This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Aeroflex Industries Ltd from the drop-down box. In the case of Aeroflex Industries Ltd, data access will be allowed late on 29th of August 2023 or by middle of 30th of August 2023. 

• There are 4 options available to you and you will find these 4 options on the above access page itself. You can either access the allotment status based on PAN or Application Number or DPID / Client ID combination or based on the combination of the bank account / IFSC code used to apply for the IPO. You can select any one of the options that is preferred and provide the details accordingly.
• If you opt for the PAN Number access, then enter the 10 character income tax permanent account number (PAN). This is an alphanumeric code available either on your PAN card or on top of your income tax return. Remember, that in a PAN, the first 5 characters are alphabets, the sixth to ninth characters are numeric and the tenth character is once again an alphabet. 
• The second option is to use the Application Number that you used while making an application for the IPO. It is also popularly called the CAF number. The application number is available on the acknowledgement slip provided to you and you can use that as one of the options to access allotment status.
• The third option is to use the DPID-Client ID combination. Remember that here you have to enter the DP id and the demat client id together as one single string. This DPID / Client ID combination is a numeric figure for CDSL demat accounts while it is an alphanumeric string for NSDL demat accounts. This combination of DP ID / Client ID of your demat account will be available in your demat statement or you can also get it online from your online trading account or trading app downloaded on the smart phone.
• The fourth option is to query based on the combination of your bank account number and IFSC number and irrespective of how many bank accounts you have, only use the bank account used for this particular IPO application. Once you click on this option, you find two boxes. First, enter your bank account number as it is. Secondly, enter the 11-character IFSC code, which is available on your cheque book. The first 4 characters of the IFSC code are alphabets and the last 7 characters are numeric. IFSC is an abbreviation for Indian Financial System Code and is unique to each account. These details are prominently displayed on the pass book, cheque book or the bank statement.
• Finally, click on the Search button

The IPO status with number of shares of Aeroflex Industries Ltd allotted will be displayed on the screen in front of you. You can take a screenshot of the output page for your records.

Brief on the business model of Aeroflex Industries Ltd

Aeroflex Industries Ltd was incorporated in the year 1993 and the company is into the manufacture of environment-friendly metallic flexible flow solution products. These products are principally made of stainless steel. Its product catalogue includes braided hoses, un-braided hoses, solar hoses, gas hoses, vacuum hoses, interlock hoses, hose assemblies, lancing hose assemblies, jacketed hose assemblies, exhaust connectors, exhaust gas recirculation tubes, expansion bellows, and related end fittings. Using steel hoses makes the products safer and also globally more acceptable. The company has more than 1,700 Product SKUs (Stock Keeping Units) in its product catalogue. Its manufacturing plant is located at Taloja, Navi Mumbai; an industrial district adjacent to the Greater Mumbai and Thane districts. Its client list includes distributors, fabricators, Maintenance Repair and Operations Companies (MROs), Original Equipment Manufacturers (OEMs), and companies in a host of other industry groups.

Aeroflex Industries Ltd has established itself as one of the leading manufacturers globally of flexible hoses and currently exports its products to more than 80 countries across the globe. Stainless steel hoses, in which Aeroflex Industries Ltd specializes, is capable of handling high temperatures as well as shocks and vibrations. The demand for stainless steel hoses is expected to increase by 50-60% in the next 3 years, so the business volumes are expected to expand rapidly too. SAT Industries, which is listed on the NSE and on the BSE, is the holding company of Aeroflex Industries Ltd. 
The issue will be lead managed by Pantomath Capital Advisors Private Ltd. Link Intime India Private Ltd will be the registrar to the issue. The company will use the fresh funds to prepay / repay some of its outstanding secured borrowings and also for working capital needs.