Home / Markets / Ipo /  Aether IPO: GMP, subscription status, financials, review. Should you apply?
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Aether IPO: The Initial Public Offering (IPO) of Aether Industries Limited opened for subscription on 24th May 2022 and it will remain open for bidding till 26th May 2022. As per Aether IPO subscription status, after day one of bidding, the public issue has been subscribed 0.33 times whereas its retail portion has been subscribed 0.54 times. The chemical company aims to raise 808.04 crore from its public offer out of which 627 crore is expected from fresh issues whereas 181.04 crore is expected to come via offer for sale (OFS) route. Aether IPO price band has been fixed at 610 to 642 per equity share and its shares are available at a premium of 10 in grey market today.

Aether IPO GMP today

According to market observers, Aether IPO GMP today is 10, which is 6 higher from its yesterday's grey market premium (GMP) of 4.

Aether IPO subscription status

After day one of bidding, the public issue worth 808.04 crore has been subscribed 0.33 times whereas its retail portion has been subscribed 0.54 times.

Aether IPO review

Giving subscribe tag to Aether IPO, Astha Jain, Senior Research Analyst at Hem Securities said,, "Company is bringing the issue at price band of 610-642 per share at p/e multiple of 72x on post issue 9Months annualized PAT basis. Company with its differentiated portfolio of market-leading products has focus on R&D to leverage its core competencies of chemistry and technology. Company has long standing relationships with a diversified customer base & with synergistic business models focused on large Scale Manufacturing, CRAMS and Contract Manufacturing .On financial front, company has shown strong and consistent financial performance . Company with its experienced promoters and senior management with extensive domain knowledge is looking decent avenue to deploy the funds in. Hence we recommend “Subscribe" on issue."

Giving 'subscribe with caution' tag, Vinit Khandare, CEO and Founder at MyFundBazaar said,, "Being the fastest-growing specialty chemical companies in the country, Aether Industries consists of a fresh issue of equity shares aggregating up to 627 crore and an offer for sale of 2.8 million shares aggregating up to 181 crore by the shareholders and promoters. Considering it’s dominant position in select specialty chemicals and it’s growth prospects from end-use applications, along with a stretched valuation being a cause of concern, one can be confident about the company’s prospects given its inherent strengths and the likely growth of the Indian chemical industry - one can ‘subscribe’ or ‘subscribe with caution’ to the IPO."

Aether IPO financials

In 9 months of financial year 2021-22, Aether Industries has posted total revenue of 449.3 crore while its PAT (Profit After Tax) stood at 82.9 crore in this period. In FY19, its total revenue stood at 203.2 crore while its PAT stood at 23.3 crore. Likewise in FY20, Aether Industries Limited reported total revenue/PAT at 303.7 crore / 39.9 crore whereas in FY21 its total revenue / PAT stood at 453.7 crore / 71.1 crore.

Aether Industries IPO objectives

The chemical company has made it clear that the money raised from its public issue will be used for debt repayment, funding capital expenditure and working capital requirements of the company and other general corporate requirements.

Other Aether IPO details

Likely date for share allocation is 31st May 2022 whereas most likely Aether IPO listing date is 3rd June 2022.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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