Aether Industries IPO: The initial public offering (IPO) of specialty chemicals company Aether Industries saw a decent take-up rate of 6.26 times the number of shares for sale. The response was mainly supported by qualified institutional buyers, who rushed to reserve more than 17 times the shares allocated to them. Aether Industries’ IPO, which opened earlier this week, pegged the price range of its shares in the range of Rs 610-642 each to rise Rs 808 crore through the main track. With Aether’s IPO already closed for auction, investors are now looking at when the shares will be allotted.
Aether Industries IPO: Subscription Status
After three auctions, Aether IPO, which is worth Rs 808.04 crore, was subscribed 6.26 times, with bidders having reserved 5,85,34,586 shares against an issue size of 93,56,193 shares. This was backed by QIBs which subscribed 17.57 times, i.e. 4,82,98,988 against the 27,48,241 shares reserved for them. The quota for retail bidders was subscribed 1.14 times, where they subscribed 51,97,494 shares. On the other hand, the allowance employees recovered 1.06 times the subscription rate. The part reserved for non-institutional investors was subscribed 2.52 times compared to the size of the issue.
Aether Industries IPO GMP Today
According to IPO Watch, shares of Aether Industries are available at a gray market premium of Rs 10 today, which is Rs 7 more than yesterday evening’s gray market premium of Rs 3. This means that Aether GMP IPO today is Rs 10 and Aether Industries shares are trading at Rs 652 (Rs 642 + Rs 10) in the gray market. Market watchers said negative sentiment in the secondary market took its toll on Aether Industries GMP’s IPO, but it picked up momentum later.
However, market experts also suggest to investors that BPF is unofficial data, which is not regulated. Thus, those who follow GMP are advised to also consult the financial statements of the company, as the balance sheet of the company will give a better picture of the fundamentals of the company.
Aether IPO Share Allocation, Listing Date
The Ather Industries IPO share allotment is set to take place next week, May 31, Tuesday. The allocation of shares can be checked on the official website of ESB and on the website of Registrar Link InTime India. The shares will be listed on May 31. The Aether IPO listing date is tentatively May 23.
Aether IPO: Issuance Goals
The Aether Industries IPO is a combination of a new issue worth Rs 627 crore and an OFS portion worth Rs 181 crore. The company will not receive any proceeds from OFS. Of the net proceeds from the new issue, Rs 163 crore will be used to fund the proposed greenfield expansion; Rs 137.9 crore will be used for loan repayment/prepayment and the remaining Rs 165 crore will be used to finance the working capital requirement of the company.
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