• Price Band of ₹153/- – ₹161/- per equity share bearing face value of ₹10/- each (“Equity Shares”)
• Bid/Offer Opening Date – Thursday, May 30, 2024 and Bid/Offer Closing Date – Monday, June 03, 2024.
• Minimum Bid Lot is 800 Equity Shares and in multiples of 800 Equity Shares thereafter.
• The Floor Price is 15.3 times the face value of the Equity Share and the Cap Price is 16.1 times the face value of the Equity Share
Mumbai, Tuesday, 28 May 2024: Aimtron Electronics Limited (“Company”) is engaged in the business of providing products and solutions towards ESDM services with a focus on high value precision engineering products, has fixed the price band of ₹153/- to ₹161/- per Equity Share of face value ₹10/- each for its maiden initial public offer.
The public issue is entirely a fresh issue of 5.40 million equity shares with no offer-for-sale (OFS) component.
The Company, in consultation with the BRLM, has allotted a pre-IPO placement of 4,64,000 equity shares by way of a private placement at an issue price of ₹148 per equity share (including a premium of ₹ 138 per equity share) for an aggregate consideration of ₹6.87 crore. Accordingly, the issue size has been reduced.
Aimtron Electronics started in 2011 as a pure play PCB designer and assembler and over the years it has become one stop electronics system design and manufacturing (“ESDM”) solution provider.
The Company provides product and solutions right from printed circuit board (“PCB”) design and assembly to the manufacturing of complete electronic systems (“Box Build”), to certain domestic and global manufacturers located in India, United States of America, Hongkong, United Kingdom, Spain, Mexico.
It offers tailored solutions for customers’ needs, encompassing automated micro-electronics assembly and precision component integration. Its solutions involve its client providing the design for the product for which it provides manufacturing services or in some cases require the company to design the relevant product based on the specifications provided by the client including manufacturing of the product. Its solutions primarily comprise of printed circuit board assembly (“PCBA”), any box build assemblies in addition to finding its application in battery management systems used in electrical vehicles and design solutions offering end to end services right from conceptualizing the design, engineering, product prototype development, manufacturing of turnkey requirements for the customers. Through its end-to-end capabilities, it believes its customers may achieve tangible benefits such as reduced manufacturing costs, improved supply chain management and reduced inventory obsolescence.
It operates through its two manufacturing facilities, one situated in Vadodara, Gujarat and the other situated in Bengaluru, Karnataka.
Aimtron Electronics Limited has turnaround to a profit of Rs 8.63 crores in the FY23, from a loss of Rs 1.80 crores in the previous year. Revenue from operations during the FY23 increased significantly to Rs 71.58 crores from Rs 26.32 crores in the previous year, an increase of 171.98%, primarily due to an increase in the sales of printed circuit board assembly ("PCBA"). Further during FY 23 it started manufacturing operations in Bengaluru that led to addition of new customer base.
For nine months ended December 31, 2023, revenue from operations stood at Rs 67.07 crores, and profit after tax stood at Rs 9.77 crores.
The Issue is being made through the Book Building Process, wherein not more than 50% of the Net Issue shall be allocated to Qualified Institutional Buyers, not less than 15% of the Net Issue shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Net Issue shall be available for allocation to Retail Individual Bidders.
Hem Securities Limited is the sole book-running lead manager. The Company’s equity shares are proposed to be listed on the SME Platform of NSE (“NSE Emerge”).
Aimtron Electronics Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares the Red Herring Prospectus dated May 23, 2024 has been filed with the Registrar of Companies, Ahmedabad, and thereafter with SEBI and the Stock Exchanges. The RHP is available on the website of NSE at https://www.nseindia.com/companies-listing/corporate-filings-offer-documents and is available on the websites of the BRLM at www.hemsecurities.com. Any potential investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, please refer to the Red Herring Prospectus including the section titled “Risk Factors” beginning on page 29 of the Red Herring Prospectus.
The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws in the United States, and unless so registered, and may not be issued or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in accordance with any applicable U.S. State Securities laws. The Equity Shares are being issued and sold outside the United States in 'offshore transactions' in reliance on Regulation “S” under the Securities Act and the applicable laws of each jurisdiction where such issues and sales are made. There will be no public offering in the United States.
LISTING: The Equity Shares Issued through this Red Herring Prospectus are proposed to be listed on the SME Platform of NSE (NSE EMERGE) in terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018 as amended from time to time. For the purpose of this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Ltd. (“NSE”).
DISCLAIMER CLAUSE OF SECURITIES AND EXCHANGE BOARD OF INDIA (“SEBI”): Since the Issue is being made in terms of Chapter IX of the SEBI (ICDR) Regulations, 2018. The Red Herring Prospectus has been filed with SEBI. In terms of the SEBI Regulations, the SEBI shall not issue any observation on the Offer Document. Hence there is no such specific disclaimer clause of SEBI. However, investors may refer to the entire Disclaimer Clause of SEBI beginning on page 231 of the Red Herring Prospectus.
DISCLAIMER CLAUSE OF THE SME PLATFORM OF THE NSE (THE DESIGNATED STOCK EXCHANGE): It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to the Offer Document for the full text of the Disclaimer Clause of NSE.
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