Aether Industries Ltd IPO
Approx. IPO Size: ? 808.04 crore
Fresh Issue: Rs. 627 crores
OFS: Rs. 181.04 crore - (2,820,000 equity shares @ Rs. 642 (upper price band))
- The issue has a price band of ? 610 - ? 642 per equity share.
- The Bid/Offer opens on Tuesday, May 24, 2022
- The Bid/Offer closes on Thursday, May 26, 2022
- Minimum Bid Lot is 23 Equity Shares and in multiples of 23 Equity Shares thereafter
- Pre-IPO placement of 2,024,921 Equity Shares aggregating to Rs 130 crore to IIFL Special Opportunities Fund- Series 9 and 10, SBI Fund Management Limited, India Acorn Fund Limited and Ashoka India Equity Investment Trust Plc and The Regents of the University of California - IIFL Asset Management Limited
- Approx. IPO Size: ? 808.04 crore (Fresh ? 627 crore + OFS ?181.04 crore)
- The IPO consist of fresh issue of ? 627 crore
- The issue also has a OFS portion of 2,820,000 equity shares
- Anchor Investors allotment date on Monday, May 23, 2022
- QIB allocation for allotment is not more than 50%
- NII allocation for allotment is not less than 15%
- RIB allocation for allotment is not less than 35%
- HDFC Bank Limited and Kotak Mahindra Capital Company Limited are the Book Running Lead Managers to the issue.
About Aether Industries
Aether Industries is a speciality chemical manufacturer in India focused on producing advanced intermediates and speciality chemicals involving complex and differentiated chemistry and technology core competencies.
As of March 31, 2022, the Company's product portfolio comprised of over 25 products. The Surat-based company is the only manufacturer of 4MEP, MMBC, T2E, OTBN, NODG, DVL and Bifenthrin Alcohol in India and the largest manufacturer of 4MEP, T2E, NODG and HEEP in the world, by volumes; 4MEP, T2E, MMBC, NODG, BFA, OTBN, NMDG and DVL products were 100% imported into India from China four years ago and now Aether is selling these products in China.
The Company has two sites at Sachin in Surat (Gujarat, India). The initial manufacturing facility is a 3,500-square-metres space that houses R&D, analytical sciences laboratories, a pilot plant, a CRAMS facility, and a hydrogenation facility. The Second Manufacturing Facility is a large-scale manufacturing facility is a 10,500 square metres space and houses 16 production streams. It has an installed capacity of 6,096 MT per year and is divided into three buildings (and one SRP Plant Stream).
For the nine-months ended December 31, 2021, Aether Industries revenue from operations stood at Rs 442.54 crore and net profit at Rs 82.60 crore. The Company's revenue from operations grew 49.04% to Rs. 449.82 crores in Fiscal 2021 from Rs. 301.81 crore in Fiscal 2020, primarily attributed to revenue generated from the sale of products under its Large-Scale manufacturing of Specialty Chemicals business, while its net profit climbed 77.99% to Rs 71.19 crore in Fiscal 2021 from Rs. 39.96 crores in Fiscal 2020.