The initial public offering (IPO) of specialty chemical manufacturer Aether Industries will take place on Tuesday, May 24.
The three-day public offering will end on Thursday, May 26. The company intends to raise Rs 808.04 crore through the IPO, with a price band of Rs 610-642 per share.
While qualified institutional buyers (QIB) will receive 50% of the issue, retail investors and non-institutional investors will receive 35% and 15%, respectively.
The Gujarat-based company’s core competencies are advanced intermediaries and specialty chemicals involving complex and differentiated chemistry.
Analysts believe that Aether’s diverse chemistry competencies, which it can apply to a wide range of products, distinguishes it as a market leader among chemical companies.
Aether intends to use Rs 627 crore of new issue proceeds to fund capital expenditure requirements for Greenfield projects, repayment of outstanding borrowings, and general corporate purposes.
