Aeron Composite Ltd planning to raise up to Rs 56.10 crore from public issue; IPO opens August 28

Ahmedabad (Gujarat) [India], August 27: Ahmedabad based Aeron Composite Ltd, leading company engaged in manufacturing and supply of fibre glass reinforced polymer products is planning to raise up to Rs. 56.10 crore from its SME public issue. The company has received approval to launch its public issue on NSE Emerge Platform of National Stock Exchange. The public issue opens for subscription on August 28 and closes on August 30. Out of the proceeds of the public issue, Rs. 39 crores will be utilized to fund the capital expenditure requirements towards setting up of a manufacturing unit at Mehsana, Gujarat and general corporate purpose. Hem Securities Ltd is the book running lead manager of the issue.