Tremendous listing of Ather Industries on the stock exchange, trading with a gain of 21% – News

Aether Industries IPO: The IPO of Aether Industries, a specialty chemical maker, has got a good listing on the stock exchange today. The stock of Aether Industries is listed at Rs 706 with a jump of 10 per cent. But after the listing, there was a great buying in the stock and the stock is seeing an increase of around 21 percent. At present, the share of Aether Industries is trading at Rs 774 while the company had fixed the issue price of Rs 642.

Know the highlights of IPO
The IPO of Ather Industries was subscribed 6.26 times and mainly the share of QIBs (institutional investors) was filled more than 17 times. The company had a plan to raise Rs 808 crore through this IPO. The company’s IPO was subscribed 1.14 times by retail investors. The IPO of Aether Industries was open from May 24 to May 26 and the company had fixed the price band of the share at Rs 610-642.

Will spend here the money raised from IPO
Aether Industries is one of the fastest growing chemical companies. The company will pay off the outstanding debt from the money raised by the IPO. Along with spending on setting up the proposed greenfield project, it will spend on working capital and general corporate requirements. Aether Industries was established in 2013.