Aaron Industries IPO – Review, Allotment, Subscription, GMP Price & Issue Details

Aaron Industries IPO consists of up to 12,57,000 Equity shares of Rs.10 each. Aaron Industries is one of the leading Engineering Sector industry which started its journey with manufacturing of Iron Clad Switches at Surat and afterwards ventured into manufacturing and trading of Elevator products and other elevator parts. Company is also engaged in manufacturing and trading of various electronic equipment like Distribution boxes, Busbar chambers, etc.

Let’s have a detailed review of the company and analytics of the Aaron Industries IPO release date, IPO offer price, subscription, Aaron Industries IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Aaron Industries IPO Review & Ratings

Aaron Industries IPO Ratings & Review
Criteria Ratings
Industry Sentiments  6.3/10
Industry Ranking  6.3/10
Company Background 6.1/10
Company Reputation 6.4/10
Competitive Edge 6.4/10
Financial Statements 6.5/10
Popularity Index 6.2/10
Promoters Reputation 6.3/10
Retail Appetite  6.2/10
Top Brokers Review 6.3/10
Overall Ratings  6.3/10
Star Ratings ★★★☆☆

Summary of Aaron Industries IPO

Aaron Industries IPOAaron Industries Limited led by Moti Group started its journey with manufacturing of Iron Clad Switches at Surat in 1961  and afterwards ventured into manufacturing and trading of Elevator products and other elevator parts. Company is also engaged in manufacturing and trading of various electronic equipment like Distribution boxes, Busbar chambers etc. The Issue comprises of a Public Issue of 12,57,000 Equity Shares of Rs.10/-  each.

From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements:

From fiscal 2016 to 2017, company’s revenue from operations and net profit has increased at a growth rate 45.01% and 145%, respectively.

For the period , FY 2015-16 and FY 2016-17 and the year ended 2017-2018 ,its revenue from operations was Rs 330.99 Lakhs, Rs.480Lakhs and Rs 1,176.86 lakhs respectively representing growth of 45.01% from the FY 2015-16 to FY 2016-17. For the period ended December 31, 2017, FY 2016-17 and FY 2015-16 our net profit was Rs.147.53 Lakhs, Rs.7.15 Lakhs and Rs.5.59 Lakhs, respectively, representing a growth of 99.9% from the FY 2015-16 to FY 2016-17.

  • During the financial year 2017-18 the Other Income of our company increased to Rs. 2.28Lakhs as against Rs. 0.32 Lakhs for the financial year 2016-17, representing increase by 612.5% due to increase in interest income & insurance claim in FY 2016- 17.
  • Company’s Net Profit after tax for the year ended 2017-18 is Rs. 107.3  Lacs from the year 2017-18 of Rs. 4.94Lacs showing an increase of 2072.6% from last year, showing remarkable performance.

The Promoter of this company are:-
1. Mr. Amar Chinubhai Doshi
2. Mr. Karan Amar Doshi
3. Mr. Monish Amarbhai Doshi
4. Ms. Radhika Amar Doshi
5. Ms. Toral Karan Doshi
6. Ms. Bhoomi Monish Doshil.

 The lead manager to the issue is Gretex Corporate Services Private Limited, SEBI registered Merchant Banker and the Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.


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Aaron Industries IPO Date

The opening and the closing date of Aaron Industries IPO is from 20 Aug 2018 – 24 Aug 2018.


Aaron Industries IPO Subscription

Day / Date QIB NII RII Total Subscription
Day 1 – 20 Aug NA 0.13x or 78,000 0.09x or 51,000 0.11x or 1,29,000
Day 2 – 21 Aug NA 0.41x 0.26x 0.37x
Day 3 – 23 Aug NA 1.49x 0.90x 1.23x
Day 4 – 24 Aug 45,000 3.26x 2.65x 2.99x
Day 5

The total offer shared is 1,194,000.


Aaron Industries IPO Allotment Status

Here, you can find the Allotment Status of this IPO.


Aaron Industries IPO Price Band

The face value of each share is Rs 10, the price band or cash price of the IPO is Rs 38. 


Aaron Industries IPO Equity Share Offering

1257000 Equity Shares of Rs 10/- each and cash price of the IPO is Rs 38, it will be aggregated to Rs 4.78 Crores. The Minimum Order Quantity is 3000 Shares.


Aaron Industries Limited – Company Overview

Moti Group started its journey with manufacturing of Iron Clad Switches at Surat in 1961 by Mr. Chinubhai Doshi,father of our Promoter, Mr. Amar Chinubhai Doshi. Moti Group believed in Growing through Quality from day one.Encouraged by the progress, Mr. Amar Chinubhai Doshi has started new venture named as “Aaron Industries Private Limited” in the year 2013 for manufacturing and trading of Elevator products and other elevator parts with continuation of existing business also. The Company is also engaged in manufacturing and trading of various electronic equipment like Distribution boxes,Busbar chambers etc.

The Company is promoted by  Amar Chinubhai Doshi, Karan Amarbhai Doshi and Monish Amarbhai Doshi,Radhika Amar Doshi, Toral Karan Doshi and Bhoomi Monish Doshi.

Competitive Strengths of Aaron Industries Limited:

  • Management and Employee expertise
  • Growing Domestic Economy
  • Quality products
  • Needs of customers
  • High level of customer satisfaction
  • Loyal Human Resources

Business strategies of Aaron Industries Limited:

  • Increasing Operational efficiency
  • Work with our Existing Suppliers
  • Providing customized product
  • Marketing Strategy

Aaron Industries Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & Lakhs)
31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Total Assets 692.61 255.41 220.80 106.48 38.72
Total Revenue 1,176.86 480.00 330.09 237.25 39.04
Total Expense 1031.61 473.16 326.30 232.48 37.69
Profit After Tax 107.03 4.94 3.86 3.66 0.84

Earnings per Equity Share (in Lakhs)

31-Dec-18 31-Mar-17 31-Mar-16
Basic  10.47 2.62 6.58
Diluted  310.47 2.62 6.58

From the above statements, one could find that the Aaron Industries Limited may perform well.


Aaron Industries IPO – Promoters

The Promoter of this company are:

  1.  Mr. Amar Chinubhai Doshi,
  2. Mr. Karan Amar Doshi,
  3. Mr. Monish Amarbhai Doshi,
  4. Ms. Radhika Amar Doshi, Mr.
  5. Mr.Toral Karan Doshi
  6. Ms. Bhoomi Monish Doshi.

List of Related Parties (Key Managerial Personnel)

  • Amar Chinubhai Doshi
  • Karan Kumar Doshi
  • Monish Amarbhai Doshi

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Aaron Industries IPO Offer Details or Issue Details

 Particulars  No. Of Equity Shares
 Equity Shares Offered 1257000 Equity Shares of Rs 10/- each at cash price of  Rs 38, it will be aggregated to Rs 4.78 Crore
 Of which:
 Reserved for Market Makers Up to [●] Equity Shares of Rs 10 each fully paid-up of our
Company for cash at a price of `[●] per Equity Share
aggregating to `[●] Lakh
 Net Issue to the Public Up to [●] Equity Shares of Rs 10 each fully paid-up of our
Company for cash at a price of `[●] per Equity Share
aggregating to `[●] Lakh.
 Of which:
 Retail Investors Portion (For upto 2 Lakhs) [●] Equity Shares of 10 each fully paid-up of our Company for cash at a price of `[●] per Equity Share
aggregating to `[●] Lakh.
 Non-Retail Investors Portion (For above 2 Lakhs) [●] Equity Shares of 10 each fully paid-up of our Company for cash at a price of `[●] per Equity Share
aggregating to `[●] Lakh. 
 Equity Shares outstanding prior to the Issue 35,25,838 Equity Shares of  10 each
 Equity Shares outstanding after the Issue 47,82,838 Equity Shares of  10 each

Aaron Industries IPO Issue Object

These are the IPO Issue Objects of the company

  • To set up a new line of business in expansion plan
  •  To meet working capital requirement; and
  •  To meet the Public Issue Expenses

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Aaron Industries IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Management and Employee expertise
  • Growing Domestic Economy
  • Quality products
  • Needs of customers

The relevant quantitative factors are:

Basic & Diluted EPS RONW (%) NAV (Rs.)
31-Mar-16 2.43 16.21 12.79
31-Mar-17 2.62 17.04 15.40
31-Mar-18 10.47 30.05 18.94
  • Industry P/E Ratio:
Particulars P/E ratio
Average 36.30
Highest 257.90
Lowest 3.80
  • Competitive Peers:

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Aaron Industries IPO Lead Managers

Lead Managers
GRETEX CORPORATE SERVICES PRIVATE LIMITED
Office no.102, 1st Floor, Kanakia Atrium-2, Andheri Kurla Road, Chakala,
Behind Courtyard Marriot, Mumbai – 400093, Maharashtra.
Tel No.: +91 – 22 – 9836822199 / 9836821999,
Fax No.: +91 – 22 – 28200298
SEBI Registration No: INM000012177
Email:
Website:www.gretexcorporate.com
Contact Person: Ms. Amina Khan

Aaron Industries IPO Registrar to offer

Registrar to the Offer
BIGSHARE SERVICES PRIVATE LIMITED
1st Floor, Bharat Tin works building, Opp. Vasant Oasis, Makwana Road, Marol,
Andheri East, Mumbai – 400 059
Tel: +91 – 22 – 62638200;
Fax: +91 – 22 – 62638299;
Email: ;
Website: www.bigshareonline.com
Investor Grievance Email: ;
SEBI Registration No.: INR000001385
Contact Person: Mr. Ashok Shetty

Other Details:

  • Statutory Auditor – P. J. Desai & Co., Chartered Accountants
  • Peer Review Auditor – Gupta Agarwal & Associates, Chartered Accountant
  • Bankers to the Company –  HDFC Bank limited,Laxmi Vilas  bank limited

Aaron Industries IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters Reputation
Angel Broking 6.5/10 6.6/10 6.6/10 6.4/10 6.4/10
Sharekhan 6.7/10 6.4/10 6.6/10 6.1/10 6.2/10
Kotak Securities 6.7/10 6.7/10 6.7/10 6.4/10 6.3/10
ICICI Direct 6.6/10 6.3/10 6.7/10 6.5/10 6.5/10
IIFL 6.4/10 6.7/10 6.8/10 6.4/10 6.7/10
Edelweiss 6.7/10 6.4/10 6.4/10 6.3/10 6.7/10
Zerodha 6.5/10 6.4/10 6.7/10 6.4/10 6.5/10
5Paisa 6.7/10 6.4/10 6.3/10 6.7/10 6.5/10
Karvy 6.8/10 6.3/10 6.7/10 6.4/10 6.0/10
Motilal Oswal 6.6/10 6.4/10 6.6/10 6.6/10 6.4/10

The ratings would be updated once the financials and the other details of the IPO are released.


Aaron Industries IPO Grey Market Premium

The Aaron Industries IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.


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Aaron Industries IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

News 2 – Sample Application Forms

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