| Market Cap | ₹206.14 CrSmall Cap |
|---|---|
| Promoter Holding | 60.46%Pre-allotment |
| RSI | 63.31Stable |
| Deal value | ₹32.4 Cr |
| Share of market cap | 15.7% |
| Share of annual revenue | 25.1% |
Key highlights
- Allotment of 48,00,000 fully paid-up equity shares at ₹90 per share
- Receipt of ₹32.40 crore representing the remaining 75% exercise price
- Promoter Aeroflex Enterprises Limited allotted 36,00,000 equity shares
- Paid-up equity share capital increased to ₹30,59,60,000 post-allotment
- Capital raised represents 15.7% of the company's current market capitalization
Conversion Details and Capital Structure Update
The Board of Directors of Aeroflex Neu Limited met on November 05, 2026, to approve the allotment of 48,00,000 equity shares of face value ₹10 each. These shares were issued at a premium of ₹80 per share, following the exercise of conversion rights by warrant holders who were previously issued warrants on a preferential basis. The company confirmed receipt of ₹67.5 per warrant, aggregating to ₹32.40 crore.
This infusion increases the total paid-up equity share capital to 3,05,96,000 shares. The newly issued shares will rank pari-passu with existing equity and are subject to mandatory regulatory lock-in periods as per SEBI ICDR Regulations.
Breakdown of Allottees and Statutory Compliance
- Aeroflex Enterprises Limited (Promoter): 36,00,000 equity shares allotted
- Benani Capital Scheme-1 (Non-Promoter): 6,00,000 equity shares allotted
- VPK Global Venture Fund - Scheme-1 (Non-Promoter): 6,00,000 equity shares allotted
- Statutory Auditor H R Jain & Co provided certification for compliance with Regulation 169(5)
- The allotment is in furtherance to previous intimations dated May 07, 2025, and July 25, 2025
Strategic Context and Acquisition Pipeline
This capital raising follows a series of strategic moves by Aeroflex Neu, formerly known as Sah Polymers Limited. On October 30, 2026, the company approved a ₹31.00 crore acquisition of a 55% stake in Aerolex Cables Private Limited. Earlier in October, it completed a 51.01% stake acquisition in Stilonn Valves and Controls for ₹16.00 crore.
These activities align with management's July 2026 guidance, which projected a 20% to 25% revenue CAGR over the next five years. While the company reported a net loss of ₹3.9 crore in the quarter ended September 2026, revenue grew 26.6% sequentially to ₹35.75 crore.
| Date | Announcement | Amount |
|---|---|---|
| 30 Oct 2026 | Board approval for acquisition of 55% equity stake in Aerolex Cables Private LimitedSource: BSE filing | ₹31.00 Cr |
| 23 Oct 2026 | Completion of acquisition of 51.01% equity stake in Stilonn Valves and Controls Private LimitedSource: mcapital.in | ₹16.00 Cr |
| 15 Oct 2026 | Board approval for acquisition of controlling 51.01% stake in Stilonn Valves and Controls Private LimitedSource: justtrade.in | ₹16.00 Cr |
| 08 Sep 2026 | Completion of sale of entire 51.01% equity stake in subsidiary Fibcorp Polyweave Private LimitedSource: NSE filing | ₹1.92 Cr |
| 22 May 2026 | Acquisition and allotment of 19.58% equity stake in Stilonn Valves and Controls Private LimitedSource: NSE filing | ₹3.00 Cr |
| 25 Jul 2025 | Allotment of 72,00,000 convertible warrants on preferential basisSource: NSE filing | ₹64.80 Cr |
What to watch next
- Completion of the 55% stake acquisition in Aerolex Cables Private Limited by December 29, 2026
- Final deadline for the conversion of remaining balance of 72,00,000 warrants by January 25, 2027
- Expansion of export footprint from 30+ countries to 60+ countries as per five-year management targets
| Share price | ₹79.91 |
|---|---|
| Market capitalisation | ₹206.14 Cr |
| Revenue (annual) | ₹129.16 Cr |
| Net profit (annual) | ₹1.69 Cr |
| Revenue (latest quarter) | ₹35.75 Cr+26.58% vs previous quarter |
| Net profit (latest quarter) | -₹3.90 Cr-5734.34% vs previous quarter |
| P/E (TTM) | -51.86×Sector 46.45× |
| Promoter holding | 60.46%0.00% QoQ |
| FII holding | 3.65%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Aeroflex Neu Limited announcing the allotment of 48,00,000 equity shares upon conversion of warrants. Market figures from a third-party data provider.
