Aether Industries IPO: The initial public offering (IPO) of specialty chemicals company Aether Industries saw a decent subscription rate of 6.26 times more than the number of shares for sale. The response was mainly supported by qualified institutional buyers, who rushed to book more than 17 times the shares allocated for them. The IPO of Aether Industries, which opened earlier this week, set the price range of its shares in the range of Rs 610-642 each to fetch Rs 808 crore via the primary route. With the Aether IPO already closed for bids, investors are now looking at the stock’s allotment date.
Aether Industries IPO: Subscription Status
After three bids, 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 supported by QIBs that subscribed 17.57 times or 4,82,98,988 against the 27,48,241 shares reserved for them. The private bidder quota was subscribed for 1.14 times, subscribing 51,97494 shares. On the other hand, the allocation employees had achieved 1.06 times the subscription rate. The section for non-institutional investors was subscribed 2.52 times at the issue size.
Aether Industries IPO GMP today
According to IPO Watch, shares of Aether Industries are available today at a premium of Rs 10 in the gray market, which is Rs 7 over yesterday’s gray market premium of Rs 3. This means that Aether IPO GMP today is Rs 10, and shares of Aether Industries are trading at Rs 652 (Rs 642 + Rs 10) in the gray market. Market observers said negative secondary market sentiment had taken its toll on Aether Industries’ IPO GMP, but later picked up momentum.
However, market experts also suggest to investors that GMP is unofficial data, which is not regulated. So those who follow GMP are advised to also go through the financial records of the company as the balance sheet of the company will give a better idea of the fundamentals of the company.
Allocation of Aether IPO Shares, Listing Date
The share allocation of the Ather Industries IPO is likely to take place next week on Tuesday, May 31. The share allocation can be checked on the official BSE website and the registrar’s website Link InTime India. The shares will be listed on May 31. The listing date of Aether IPO is tentatively May 23.
Aether IPO: Issuance Objectives
The IPO of Aether Industries is a combination of a new issue worth Rs 627 crore and an OFS share worth Rs 181 crore. The company does not receive any proceeds from the OFS portion. From the net proceeds of the new issuance, Rs 163 crore will be used to fund the proposed greenfield expansion; Rs 137.9 crore will be used for repayment/prepayment of the loans and remainder Rs 165 crore will be used to finance the working capital requirement of the company.
Read all the latest news, breaking news and IPL 2022 Live Updates here.
