Aether Industries IPO: GMP, share allotment, listing date details here
Premium- Aether Industries IPO was subscribed 6.26 times on its final day of the offer
The initial public offering (IPO) of speciality chemicals company Aether Industries was subscribed 6.26 times on the final day of subscription on Thursday, helped by a strong interest from institutional buyers. The share sale received bids for 5,85,34,586 shares against 93,56,193 shares on offer.
The finalization of basis of share allotment of Aether Industries IPO is expected to take place next week on Tuesday, May 31, 2022, and if allotted, then the credit of shares to demat account of bidders will be done on June 2. The registrar for this IPO is Link Intime India Private Ltd, therefore the allotment application can be checked on its website here or on the BSE website here.
Aether Industries shares are commanding a premium (GMP) of ₹10 in the grey market today, as per market observers. The shares of the company are expected to list on stock exchanges BSE and NSE on June 3, 2022.
The initial share sale had a fresh issue of up to ₹627 crore and an offer for sale of up to 28,20,000 equity shares. Its price range was at ₹610-642 per share. On Monday, Aether Industries said it has raised a little over ₹240 crore from anchor investors.
Proceeds from the fresh issuance will be used to fund capital expenditure requirements for a proposed new project in Surat, Gujarat, fund working capital requirements and for payment of debt.
Aether Industries is a speciality chemicals manufacturer in India, focused on producing advanced intermediates and speciality chemicals involving complex and differentiated chemistry and technology core competencies.
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