Aether Industries IPO: The stock allotment status of the Aether Industries (IPO) IPO has already been finalized and winning bidders should receive credits in their demat accounts by Thursday, June 2. shares are for sale, with qualified institutional buyers rushing to subscribe to the issue. The IPO of Aether Industries, which was open between May 24 and May 26, had set a price range of Rs 610-642 for each share of shares with a par value of Rs 10. Aether Industries IPO will be listed on the exchanges on June 3. . , Friday.
Aether Industries IPO GMP today
According to IPO Watch, shares of Aether Industries are available today at a gray market premium of Rs 15, which is Rs 5 from yesterday’s gray night market premium of Rs 10. This means that Aether IPO GMP today is Rs 15, meaning Aether Industries shares are trading at Rs 657 (Rs 642 + Rs 15) in the gray market.
However, market experts also suggest to investors that GMP is unofficial data, which is unregulated. 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.
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 IPO: what experts say about gains on the list
Experts said Aether Industries’ IPO is likely to open at a premium given healthy subscription rates. “Aether Industries is a niche manufacturer of specialty chemicals with a wide range of end products and applications. The IPO of Rs.808 Cr, consisting of a new issue of Rs.627 Cr and OFS of Rs.181 Cr, was subscribed 6.26 times. Taking into account healthy oversubscriptions and fully underwritten anchor book, the IPO is expected to open in premium,” said Narendra Solanki, head of equity research (fundamental), at Anand Rathi Shares & Stock Brokers.
Founded just seven odd years ago, Aether Industries has become one of the fastest growing specialty chemical companies in India, growing its revenues at a CAGR of 49.5 percent between FY19 and FY21. Given the growth opportunities for specialty chemicals in the pharma, agrochemicals and FMCG space, and improved prospects for contract manufacturing and CRAMS under Make-in-India initiatives. We were recommended ‘Subscribe Long Term’ to this IPO,” he said, speaking about the Aether Industries IPO.
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