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Aether Industries IPO: Chemical company will bring 1,000 crore IPO, documents filed with SEBI

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Aether Industries IPO: Chemical company will bring 1,000 crore IPO, documents filed with SEBI

According to the Red Herring Prospectus (DRHP), fresh shares worth Rs 757 crore will be issued under the IPO of Aether Industries.

Aether Industries IPO: Specialty chemical company Aether Industries is going to bring its IPO. The company has submitted a draft paper to the market regulator SEBI for this. The company wants to raise Rs 1,000 crore through this IPO. According to the Red Herring Prospectus (DRHP), fresh shares worth Rs 757 crore will be issued under this IPO. In addition, 2,751,000 equity shares will be sold under offer for sale (OFS).

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Along with this, the company can also consider raising Rs 131 crore by issuing equity shares through preferential offer. According to market sources, this IPO will be of Rs 1,000 crore.

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Company related details

  • Ather Industries was started in the year 2013 as an R&D unit. In the year 2017, the company started commercial production.
  • The company operates in the pharmaceutical, agro chemical, material science, electronic chemical, high performance photography and oil and gas industry segments. At present its capacity is more than 4,000 metric tonnes.
  • The Surat-based company has recently raised over Rs 100 crore in pre-IPO rounds from White Oak Capital and IIFL.
  • The company’s operating revenue increased to Rs 450 crore in FY21 from Rs 302 crore in FY20. In addition, the company’s net profit grew by 75 per cent to Rs 71 crore in FY21 from Rs 40 crore in FY11.
  • HDFC Bank and Kotak Mahindra Capital Company are the Book Running Lead Managers of the issue.

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