Aether Industries IPO stock allotment today. Here’s how to check the application status online
The initial public offering (IPO) of specialty chemicals company Aether Industries was underwritten 6.26 times on the last day of subscription, helped by strong interest from institutional buyers. The stock sale received offers for 5,85,34,586 shares against 93,56,193 shares offered.
Finalization of the Aether Industries IPO share allocation basis is expected to occur on Tuesday, May 31, 2022, and if awarded, crediting of shares to bidders’ demat account will occur on Thursday, May 2, 2022. June. this IPO is Link Intime India Private Ltd, therefore, the application for the award can be checked on its website here or on the BSE website here.
Aether Industries shares command a premium (GMP) of ₹20 on the gray market today, according to market watchers. The company’s shares are expected to list on the BSE and NSE stock exchanges this week on Friday, June 3, 2022.
The initial sale of shares had a new issue of up to ₹627 crore and an offer to sell (OFS) of up to 28,20,000 shares. Its price range was ₹610-642 per share. Aether Industries raised a little more ₹240 crores from core investors before its public issuance.
The share for qualified institutional buyers received 17.57 times the subscription, while the non-institutional investors category was subscribed 2.52 times and retail individual investors 1.14 times.
Proceeds from the new issue will be used to fund capital expenditure requirements for a proposed new project in Surat, Gujarat, to fund working capital requirements and for debt payment. HDFC Bank and Kotak Mahindra Capital Company were the offering managers.
Aether Industries is a specialty chemicals manufacturer in India, which focuses on the production of advanced intermediates and specialty chemicals involving complex and differentiated core competencies in chemistry and technology.