Aether Industries IPO Subscribe 33 Pecent On First Day 26 May 2022 Check Here All Details

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Aether Industries IPO Subscribe 33 Pecent On First Day 26 May 2022 Check Here All Details

Aether Industries IPO: The IPO of chemical company Ather Industries has become open for subscription today. The company’s IPO has been subscribed 33 percent on the first day. According to the data available on the National Stock Exchange (NSE), 30,41,635 bids have been received for 93,56,193 shares under the IPO of the chemical maker.

who got how much subscribed
The shares reserved for retail investors have received 42 per cent subscription while the shares reserved for Qualified Institutional Buyers (QIBs) have received 36 per cent subscription. On the other hand, the category of non-institutional investors got subscribed only five per cent.

627 crore shares will be issued
Let us tell you that new shares up to Rs 627 crore have been issued under the IPO. The promoters and other shareholders of the company have brought an offer for sale (OFS) of 28,20,000 equity shares. Ather Industries on Monday raised Rs 240 crore from anchor investors.

Aether Industries IPO
When will the IPO close – 26 May 2022
Price Band – Rs 610-642
Lot Size – 23
Minimum investment Rs.14030
Issue Size – 808 Crore

When can the listing of shares take place?
Talking about the allotment of shares of the company, allotment of shares can be done on May 31. Apart from this, on June 3, the company can list shares on BSE and NSE.

Where will the funds be used?
The company said that the funds raised through the IPO will be used to repay the company’s debt, meet the capital expenditure of the proposed greenfield project in Surat, Gujarat and fund the working capital.

What is the business of the company?
Talking about the business of Aether Industries, the company does the work of making chemicals. It is the only company in the country to manufacture chemicals like 4MEP, MMBC, OTBN, N-octyl-D-glucamine, delta-valerectone and bifenthrin alcohol. Apart from this, the company sells 22 products in more than 17 countries worldwide. Apart from this, doing business with more than 100 companies in the domestic market.

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