Aeroflex Industries Ltd. has announced plans to raise up to ₹4000 million through a Qualified Institutions Placement (QIP) or other approved methods. The company’s Board of Directors approved the proposal on December 14, 2024. The fund-raising will involve issuing equity shares of face value ₹2 each, subject to regulatory approvals and approval from the company’s shareholders.
An Extraordinary General Meeting (EGM) is scheduled for January 15, 2024, at 11:00 a.m. to seek approval from the members for the proposed fundraising. Additionally, the company has commenced Phase-I trial production for its metal bellows project, marking a significant step forward in its expansion plans.
Aeroflex Industries’ shares closed at ₹227.00 on December 13, after opening at ₹231.00. The stock reached a high of ₹232.99 and a low of ₹222.40 during the day. With a 52-week high of ₹234.45 and a low of ₹115.00, the stock remains within a strong range.
