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Investors bet fiercely in Aether Industries’ IPO, subscribed 6.26 times on the last day, check details – News

Aether Industries IPO Last Day Subscription: The Initial Public Offer (IPO) of Aether Industries, a specialty chemical maker, has received an overwhelming response from investors. On Thursday, the last day of subscription, this IPO was subscribed 6.26 times. Institutional buyers have shown great interest in this IPO. According to NSE data, this IPO received bids for 5,85,34,586 shares as against 93,56,193 shares.

How much response did you get in which category?

Under this IPO, the share of Qualified Institutional Buyers (QIBs) got subscribed 17.57 times. While the portion reserved for non-institutional investors has been subscribed 2.52 times and retail individual investors 1.14 times. Under this IPO, fresh shares worth Rs 627 crore were issued. In addition, 28.2 lakh equity shares were sold by the promoters under offer-for-sale (OFS). The company had fixed a price band of Rs 610-642 for this IPO. Ather Industries on Monday said it has raised a little over Rs 240 crore from anchor investors.

Fund will be used here

The fund proceeds from the issue will be used for capital expenditure requirements for the proposed new project at Surat, Gujarat. Apart from this, the amount will be used for working capital requirements and also for repayment of loan.

about the company

Aether Industries manufactures specialty chemicals. It is the only company in the country to manufacture certain chemicals such as 4MEP, MMBC, OTBN, N-octyl-D-glucamine, Delta-valerectone and Bifenthrin alcohol. As of September 2021, the company has 22 products in its portfolio, which are sold to 30 companies in more than 17 countries and more than 100 domestic companies.

Talking about the company’s financials, its net profit (Profit After Tax) has increased continuously. The company had a net profit of Rs 23.33 crore in FY 2019, Rs 39.96 crore in FY 2020, Rs 71.12 crore in FY 2021 and Rs 82.91 crore in FY 2022 (till December 2021). (Input-PTI)

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