Shares of Aeroflex Industries Ltd were trading in the green and 3% higher on 2 January after the company announced the start of commercial production and launched a new product, Metal Bellows, with an annual manufacturing capacity of 1,20,000 pieces. 
 
According to a regulatory filing, Aeroflex Industries improved its overall manufacturing capacity from 15 million meters to 16.5 million meters per year by adding 1.5 million meters of stainless steel hose and braiding capacity. To expand its ability to manufacture Composite Hose, the company also said that it has successfully built three more lines, bringing the total to six.

Aeroflex Industries, originally Suyog Intermediates, is a subsidiary of SAT Industries, which owns a 61.23% stake in the company. Aeroflex specialises in flexible hose assemblies and stainless-steel corrugated hoses for the regulated flow of gases, liquids, and solids in various sectors.

Earlier on 14 December, the Board of Directors of the company approved plans to raise Rs 400 crore via the issuance of equity shares through a Qualified Institutions Placement (QIP) or other permissible modes.

The proposal is subject to shareholder and regulatory approvals. To advance the process, the company has scheduled an Extraordinary General Meeting (EGM) on 15 January 2024, at 11:00 am, for shareholders to cast their votes on the matter.

At 2:11 pm, the shares of Aeroflex were trading 2.46% higher at Rs 212.15 on NSE. 

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