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“…the board of directors of Aeroflex Industries Limited (company) at its meeting held today i.e., Saturday, December 14, 2024, have inter alia, approved the proposal for raising of funds in one or more tranches by way
of issuance of such number of equity shares having face value ₹ 2/- each of the Company (Equity Shares) for an aggregate amount not exceeding ₹4000 million (Rupees Four Thousand Million only) by way of qualified institutions placement (QIP) or other permissible modes,” Aeroflex Industries said in a regulatory filing.
Also Read: Aeroflex Industries maintains over 25% profit growth target for the year
The proposal, approved during the board meeting today is subject to approvals from shareholders and regulatory authorities. To facilitate the process, the company has scheduled an Extraordinary General Meeting (EGM) on January 15, 2024, at 11:00 a.m., where shareholders will vote on the proposal.
The Board has formed a dedicated Fund Raising Committee to finalise the terms and conditions of the planned capital raise. In addition, Aeroflex Industries disclosed the commencement of trial production for Phase I of its metal bellows project.
Shares of Aeroflex Industries Ltd ended at ₹227.50, down by ₹3.20, or 1.39% on the BSE on Friday (December 14).
Also Read: Red Sea crisis dents Aeroflex Industries’ Q3 revenue
