Aether Industries IPO: The Initial Public Offering (IPO) of specialty chemicals company Aether Industries saw a decent subscription rates of 6.26 times over the number of shares up for sale. The response was mainly backed by qualified institutional buyers, who rushed in to book more than 17 times the shares allocated for them. The Aether Industries IPO, which opened earlier this week, fixed the price band of its shares in the range of Rs 610-642 apiece to raise Rs 808 crore through the primary route. With the Aether IPO already closed for bidding, investors are now looking at the share allotment date.
Aether Industries IPO: Subscription Status
After three of bidding, Aether IPO, which is worth Rs 808.04 crore, has been subscribed 6.26 times, as bidders booked 5,85,34,586 shares against the issue size of 93,56,193 shares. This was backed by QIBs who subscribed 17.57 times or 4,82,98,988 against the 27,48,241 shares set aside for them. The quota for retail bidders was subscribed 1.14 times, where they subscribed 51,97,494 shares. On the other had the allocation employees fetched 1.06 times subscription rate. The portion set aside for non institutional investors was subscribed 2.52 times against the issue size.
Aether Industries IPO GMP Today
According to IPO Watch, shares of Aether Industries are available at a premium of Rs 10 in the grey market today, which is Rs 7 up from yesterday’s evening grey market premium of Rs 3. This means Aether IPO GMP today is Rs 10, and shares of Aether Industries are trading at Rs 652 (Rs 642 + Rs 10) at the grey market. Market observers said that negative sentiments in the secondary market had taken its toll on Aether Industries IPO GMP, but it gained back its momentum later.
However, market experts also suggest to investors that GMP is unofficial data, which is non-regulated. So, those who follow GMP are advised to go through the financials of the company as well because the balance sheet of the company will give a better picture of the company’s fundamentals.
Aether IPO Share Allotment, Listing Date
The share allotment of Ather Industries IPO is likely to be done next week on May 31, Tuesday. The share allotment can be checked on the official BSE website and the website of the registrar Link InTime India. The refunds for those who do not win the bid will be done on June 1, while winning bidders will receive their credits to demat accounts on June 2. The listing date of Aether IPO is tentatively June 3, which is next Friday.
Aether IPO: Objectives of Issue
The Aether Industries IPO is a combination of fresh issue worth Rs 627 crore and OFS portion worth Rs 181 crore. The company will not receive any proceeds from the OFS portion. Of the fresh issue net proceeds, Rs 163 crore will be used to fund the proposed greenfield expansion; Rs 137.9 crore will be utilized for repayment/ prepayment of the borrowings and rest Rs 165 crore will be used to fund the working capital requirement of the company.
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