Specialty chemical maker Aether Industries is going to launch its initial public offering (IPO) next week, with the public issue remaining open for subscription between May 24 and May 26. The size of the IPO is about Rs 808 crore and its price band has been fixed at Rs 610-642 per share. Here’re important facts about the company and its IPO that investors need to know before applying for the offer.
Aether Industries IPO: Date and Size
The IPO of Aether Industries will be open for public subscription between May 24 and May 26. The anchor investors portion will be open for bidding on May 23. The company plans to raise Rs 808.04 crore from its public offer. Out of this, Rs 627 crore will be raised through fresh issues, whereas the remaining Rs 181.04 crore is expected through offer for sale (OFS). The tentative date for the announcement of share allocation is May 31. The likely date for share listing is June 3.
Aether Industries IPO: Lot Size
An investor can bid for a minimum of one lot and a maximum of 13 lots. A lot will comprise 23 shares of Aether Industries. In terms of the rupee value, an investor can bid for a minimum amount of Rs 14,766 for one lot, while the maximum bid can be made for Rs 1,91,958 for 13 lots.
Aether Industries IPO: Quotas
The initial public offering will have a reservation of 35 per cent for retail investors, while qualified institutional buyers (QIBs) will be able to participate in 50 per cent of the total issue size. Non-institutional investors will be able to participate in the remaining 15 per cent of the IPO size.
Aether Industries IPO: GMP
Shares of Aether Industries have made debut in the grey market, according to market observers. They said Aether Industries’ shares were available at a premium of Rs 20 (over the upper band of Rs 642) in the grey market on Saturday. It means the shares in the grey market are trading at Rs 662 apiece. It indicates that listing price of the company’s shares are expected to be above the issue price. The premium gets fluctuated based on the sentiments in the markets.
About Aether Industries
Aether Industries is a speciality chemical manufacturer in India focused on producing advanced intermediates and speciality chemicals involving complex and differentiated chemistry and technology core competencies. “Our business was started in 2013 with a vision to create a niche in the global chemical industry with a creative approach towards chemistry, technology and systems that would lead to sustainable growth,” according to the red-herring prospectus (RHP).
It said it is one of the fastest-growing specialty chemical companies in India, growing at a CAGR (compound annual growth rate) of nearly 49.5 per cent between the financial years 2019 and 2021.
“From CY 2020 to CY2025, the global chemicals market is expected to grow at a CAGR of 6.2 per cent and the India speciality chemical market at a CAGR of 11.2 per cent, according to Frost & Sullivan. The following table sets forth the size in CY2020 of the global chemical market, global speciality chemical market and the Indian speciality chemical market and the expected growth in these markets forecast for CY 2025,” according to the RHP.
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