The issue consists of issuance of fresh equity shares of Rs 627 crore and offer for sale (OFS) of up to 28.2 lakh equity shares by existing shareholders and promoter aggregating to Rs 181.04 crore.
Overall, the company will raise little more than Rs 808 crore through the primary route. However, the size of the fresh equity block has been trimmed from Rs 757 crore earlier, following its pre-IPO placement plans.
The issue can be subscribed till Thursday, May 26. Investors can make a bid of minimum for 23 equity shares and then in its multiples thereafter.
Proceeds from the fresh issuance will be used to fund capital expenditure requirements for the proposed greenfield project in Surat, Gujarat, payment of debt and to fund working capital requirements.
Aether Industries is a speciality chemicals manufacturer in India focused on producing advanced intermediates and speciality chemicals involving complex and differentiated chemistry and technology core competencies.
Aether Industries has two manufacturing sites in Surat. As of March 31, 2022, its product portfolio comprised over 25 products, sold to more than 34 global companies in 18 countries to over 154 domestic companies.
The company’s total revenue grew to Rs 454.79 crore in the financial year 2020-21, from Rs 303.78 crore in FY 2019-20. Its net profit climbed to Rs 71.12 crore in the year ended March 31, 2021 from Rs 39.95 crore in the previous year.
For the nine months ended December 31, 2021, the company reported a net profit of Rs 82.9 crore with a total revenue of Rs 449.31 crore.
The company has reserved 50 per cent of equity shares for qualified institutional buyers, whereas 15 per cent shares are allocated for non-institutional investors. Retail bidders will get the remaining 35 per cent of the offer.
and Capital Company are the book running lead managers to the issue, whereas Link Intime has been appointed as the registrar to the issue.