- Specialty chemicals maker Aether Industries is all set to launch its initial public offering (IPO) today, between May 24 and 26.
- The price band of the company’s public issue has been set at ₹610-642 apiece.
- An investor can bid for a minimum of one lot of 23 shares, costing up to ₹14,766.
Specialty chemical maker Aether Industries is all set to launch its initial public offering (IPO) today, between May 24 and 26. The price band of the company’s public issue has been set at ₹610-642 apiece.
An investor can bid for a minimum of one lot of 23 shares, totaling to ₹14,766 per lot. The maximum bid can be placed for 13 lots, totaling to ₹191,958.
Aether Industries intends to raise close to ₹808 crore through this IPO. Out of this, ₹627 crore will be raised through fresh issue of equity shares while the remaining ₹181.04 crore will be raised through offer for sale (OFS). The tentative date for the announcement of share allocation is May 31, 2022. The likely date for share listing is June 3.
| Event | Date |
| IPO Opening Date | May 24, 2022 |
| IPO Closing Date | May 26, 2022 |
| Basis of Allotment | May 31, 2022 |
| Initiation of Refunds | June 1, 2022 |
| Credit of Shares to Demat | June 2, 2022 |
| Aether Industries IPO Listing Date | June 3, 2022 |
Understanding the business of Aether Industries
Aether Industries — which is based out of Surat, Gujarat — focuses on producing advanced intermediates and specialty chemicals involving complex, differentiated chemistry and technology core competencies.
The company’s products are used in pharmaceutical, agrochemical, material science, coating, high-performance photography, additive as well as oil and gas segments of the chemical industry.
About 35% of the issue will be reserved for retail investors, while qualified institutional buyers (QIBs) will be able to participate in 50% of the total issue size. Non-institutional investors will be able to participate in the remaining 15% of the IPO size.
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