The initial public offering of speciality chemicals manufacturer Aether Industries Ltd received a strong response from investors. The public issue got subscribed 6.26 times as it received bids for more than 5.85 crore shares against 93.56 lakh shares on the offer, as per the data on the stock exchanges.
The portion reserved for retail investors was subscribed 1.14 times, while that of Non-Institutional Investors was subscribed 2.52 times. QIB quota received a whopping 17.57 times subscription and the Employees’ quota got 1.06 times subscription, the data showed.
Aether Industries IPO opened for subscription on May 24 and concluded on May 26. The price band for the Rs 808.04-crore worth issue was Rs 610 to 642 per share and comprised a fresh issue of shares worth Rs 627 crore and an offer-for-sale (OFS) of up to 28.20 lakh shares by promoters and existing shareholders.
The company proposes to utilise the net proceeds from the fresh issue towards prepayment or repayment of all or a part of certain outstanding borrowings, funding capital expenditure for the proposed greenfield project, working capital requirements and general corporate purposes.
The company is expected to finalise the basis of share allotment on May 31. Check out the important dates and other details of the IPO.
Aether Industries Ltd IPO – Important Dates & Details
|Issue Opening Date||May 24, 2022|
|Issue Closing Date||May 26, 2022|
|IPO Size||Rs 808.04 crore|
|Price Band||Rs 610 – 642 per share|
|Bid Lot||23 shares and in multiples thereof|
|Face Value||Rs 10 per share|
|IPO Allotment Date||May 31, 2022|
|Initiation of Refunds||June 1, 2022|
|Credit of Shares to Demat||June 2, 2022|
|IPO Listing Date||June 3, 2022|
Documents/details you will require to check Aether Industries Ltd IPO allotment status:
DP client ID
How to check Aether Industries Ltd IPO allotment status?
Investors who had bid for the Aether Industries Ltd IPO can check the IPO allotment status of their application online, through these 2 modes:
The websites of BSE/NSE OR
The registrar – Link Intime India Pvt Ltd
How to check Aether Industries Ltd IPO allotment status through BSE/NSE website:
Step 1: Visit https://www.bseindia.com/investors/appli_check.aspx
Step 2: Select ‘Equity’ in ‘Issue Type’
Step 3: Select ‘Aether Industries Ltd.’ in the Issue Name
Step 4: Enter the Application Number or PAN
Step 5: Verify and click on ‘I’m not a robot’
Step 6: Click on ‘Search’
How to check Aether Industries Ltd IPO allotment status through the registrar’s website:
Step 1: Visit https://linkintime.co.in/mipo/ipoallotment.html
Step 2: Select the Query by ‘PAN’, ‘Application No’ Or ’DPID/Client ID’
Step 3: Select ‘Aether Industries Ltd.’
Step 4: Enter the PAN, Application number or DPID/Client ID as per the selected option. Finally, click on the ‘Search’ button.
Here’s how a typical IPO allotment search result page will look like:
Aether Industries Ltd
|Sole/1st Applicant||Jay Mehta|
|Cut off price||642|
|Securities Allotted||Amount Adjusted|
About – Aether Industries Ltd
Aether Industries is focused on manufacturing advanced intermediates and speciality chemicals involving complex and differentiated chemistry and technology core competencies.
The company’s business models include large-scale manufacturing of intermediates and speciality chemicals, CRAMS (contract research and manufacturing services) and Contract manufacturing.
It has two manufacturing facilities in Surat, Gujarat. The first facility spans over 3,500 sq mt which includes R&D and Hydrogenation Facilities and Pilot Plant. The second one is a 10,500 sq mt facility than has an installed capacity of 6,096 MT per year.
Financials – Aether Industries Ltd
Aether Industries has posted strong financial performance in the last three years. the company’s net profit in FY21 jumped to Rs 71.12 crore from Rs 39.96 crore in FY20. Meanwhile, its revenue, in FY21 increased to Rs 453.79 crore from Rs 303.78 crore in FY20.
Moreover, the company’s net profit for the nine months ended December 2021 soared to Rs 82.91 crore and revenue for the period was Rs 449.32 crore.
Management – Aether Industries Ltd
Ashwin Desai is the founding Promoter and Managing Director of Aether Industries Ltd.
Dr. Aman Desai, Rohan Desai and Purnima Desai are the Promoters and Whole Time Directors of the company.
Kamalvijay Tulsian is the Chairperson and Non-Executive Director of the company.
Ishita Manjrekar is the Non-Executive Director of the company.
Arun Kanodiya, Jeevan Lal Nagori, Leja Hattiangadi, Dr. Amol Kulkarni, Rajkumar Borana and Jitendra Vakharia are the Non-Executive Independent Directors of the company
Faiz Arif Nagariya is the Chief Financial Officer of the company.