Aether Industries will list its shares on stock exchanges on Friday after witnessing a good response from investors in the initial share sale. The firm has fixed the issue price at ₹642, the upper end of the IPO price band of ₹610-642 per share. The ₹808-crore IPO of the company was subscribed 6.26 times.
The IPO includes a fresh issue of ₹627 crore and an offer-for-sale of up to 28.2 lakh shares by promoter Purnima Ashwin Desai.
The quota set aside for QIBs and HNIs was subscribed 17.57 times and 2.5 times, respectively. The retail portion was subscribed 1.14 times, while the portion reserved for employees was subscribed 1.06 times.
Anchor investors
Ahead of IPO, the company had raised a little over ₹240 crore from anchor investors. The company had allocated a total of 37,42,495 equity shares to anchor investors at ₹642 apiece.
Aether Industries is a speciality chemical manufacturer focused on producing advanced intermediates and speciality chemicals involving complex and differentiated chemistry and technology core competencies.