Aeroflex filed its preliminary IPO papers with the regulator in March of this year. Prior to the IPO, prominent investors, including Ashish Kacholia and Jagdish Master, acquired stakes in the company
According to the NSE, Societe Generale picked up 16,10,437 equity shares of Sat Industries on Thursday at an average price of Rs 85.05 apiece, aggregating to Rs 13.69 crore.
Sat Industries, the promoter of Aeroflex, said that it has sold a total of 7.6 per cent stake of the IPO-bound firm to select investors and garnered a total of Rs 76.14 crore before the IPO.
SAT Industries Ltd has sold 40,63,337 equity shares i.e., 3.55% held in its material subsidiary, Aeroflex Industries Limited for a total consideration of INR 35.58 Crores.
Aeroflex Industries has witnessed investors such as Ashish Kacholia and Jagdish Master increase stakes ahead of its initial public offering (IPO) scheduled this month. The IPO seeks to raise Rs 350 crore and comprises a fresh equity shares issue worth up to Rs 160 crore and an offer for sale of up to 17.5 million equity shares by promoter shareholders. More than 7% stakes in the firm were purchased by the investors over two months. Aeroflex s metallic flexible flow solutions account for more than 80% of the firm s revenues and are used by fire-fighting, space, aviation, and other sectors.