Aeroflex Industries Ltd. (AIL) manufactures eco-friendly metallic flexible flow products for global and domestic markets, experiencing steady growth in recent years. With a turnover increasing from Rs. 144.84 cr. (FY21) to Rs. 269.48 cr. (FY23), AIL has served 723 customers in FY23. It paid a consistent dividend of 10% for FY22 and FY23, with an average EPS of Rs. 2.21 and RoNW of 25.56% over three fiscals. The IPO is priced at P/BV of 10.82 based on NAV of Rs. 9.98 and P/BV of 5.06 post-IPO. With a strong pre-IPO placement history, AIL aims for medium to long-term rewards.