Bookbuilding IPO | ₹808 Cr | Listed at BSE, NSE | Tue, May 24, 2022 - Thu, May 26, 2022
Aether Industries IPO is a book build issue of ₹808.04 crores. The issue is a combination of fresh issue of 0.98 crore shares aggregating to ₹627.00 crores and offer for sale of 0.28 crore shares aggregating to ₹181.04 crores.
Aether Industries IPO bidding started from May 24, 2022 and ended on May 26, 2022. The allotment for Aether Industries IPO was finalized on May 31, 2022. The shares got listed on BSE, NSE on Jun 3, 2022.
Aether Industries IPO price band is set at ₹642 per share. The lot size for an application is 23. The minimum amount of investment required by an retail is ₹14,766 (23 shares) (based on upper price). The lot size investment for sNII is 14 lots (322 shares), amounting to ₹2,06,724, and for bNII, it is 68 lots (1,564 shares), amounting to ₹10,04,088.
The issue includes a reservation of up to 1,11,370 shares for employees offered at a discount of ₹0.00 to the issue price.
HDFC Bank Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Aether Industries IPO RHP for detailed Information.
IPO Open
Tue, May 24, 2022
IPO Close
Thu, May 26, 2022
Issue Price
₹642 per share
Market Cap (Pre-IPO)
₹7,991.79 Cr
| IPO Date | 24 to 26 May, 2022 |
| Listed on | Fri, Jun 3, 2022 |
| Face Value | ₹10 per share |
| Price Band | ₹610 to ₹642 |
| Issue Price | ₹642 per share |
| Lot Size | 23 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,25,86,355 shares (agg. up to ₹808 Cr) |
| Fresh Issue | 97,66,355 shares (agg. up to ₹627 Cr) |
| Offer for Sale | 28,20,000 shares of ₹10 (agg. up to ₹181 Cr) |
| Share Holding Pre Issue | 11,47,16,318 shares |
| Share Holding Post Issue | 12,44,82,673 shares |
| BSE Script Code / NSE Symbol | 543534 / AETHER |
| ISIN | INE0BWX01014 |
Aether Industries IPO offers total 1,25,86,355 shares. Out of which 62,37,492 (49.56%) allocated to QIB, 24,94,997 (19.82%) allocated to QIB (Ex- Anchor), 18,71,248 (14.87%) allocated to NII 43,66,245 (34.69%) allocated to RII and 37,42,495 (29.73%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 62,37,492 (49.56%) | NA |
| − Anchor Investor Shares Offered | 37,42,495 (29.73%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 24,94,997 (19.82%) | NA |
| NII (HNI) Shares Offered | 18,71,248 (14.87%) | NA |
| − bNII > ₹10L | 12,47,499 (9.91%) | 3,874 |
| − sNII < ₹10L | 6,23,749 (4.96%) | 1,937 |
| Retail Shares Offered | 43,66,245 (34.69%) | 1,89,836 |
| Employee Shares Offered | 1,11,370 (0.88%) | NA |
| Total Shares Offered | 1,25,86,355 (100.00%) |
Investors can bid for a minimum of 23 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 23 | ₹14,766 |
| Retail (Max) | 13 | 299 | ₹1,91,958 |
| S-HNI (Min) | 14 | 322 | ₹2,06,724 |
| S-HNI (Max) | 67 | 1,541 | ₹9,89,322 |
| B-HNI (Min) | 68 | 1,564 | ₹10,04,088 |
Aether Industries IPO raises ₹240.27 crore from anchor investors. Aether Industries IPO Anchor bid date is May 23, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, May 23, 2022 |
| Shares Offered | 37,42,495 |
| Anchor Portion (₹ Cr.) | 240.27 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Jun 30, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Aug 29, 2022 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 2013, Aether Industries Limited is a manufacturer of speciality chemicals. The company is the sole manufacturer in India of chemicals such as 4-(2-Methoxyethyl) Phenol (4MEP), 3-Methoxy-2-Methylbenzoyl Chloride (MMBC), Thiophene-2-Ethanol (T2E), Ortho Tolyl Benzo Nitrile (OTBN), N-Octyl-D-Glucamine, Delta-Valerolactone and Bifenthrin Alcohol.
The company has three business models: Large scale manufacturing of intermediates and speciality chemicals, CRAMS (contract research and manufacturing services) and Contract manufacturing.
Aether Industries has two manufacturing sites at Sachin in Surat, Gujarat. Manufacturing Facility 1 is a 3,500 square metre facility including R&D and Hydrogenation Facilities and Pilot Plant. Manufacturing Facility 2 encompasses roughly 10,500 square metres, with an installed capacity of 6,096 MT per year spread among three buildings and 16 production streams as of September 30, 2021.
As of March 31, 2022, Aether Industries Limited's product portfolio comprised over 25 products which were sold to over 34 global companies in 18 countries and to over 154 domestic companies. The company is the largest manufacturer of 4MEP, T2E, NODG and HEEP products in the world by volume.
Competitive Strengths
| Period Ended | 31 Dec 2021 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|
| Assets | 709.56 | 452.94 | 300.47 | 206.68 |
| Total Income | 449.32 | 453.79 | 303.78 | 203.28 |
| Profit After Tax | 82.90 | 71.12 | 39.96 | 23.34 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure requirements for the Proposed Greenfield Project | 190.00 |
| 2 | Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company | |
| 3 | Funding working capital requirements of the Company | |
| 4 | General corporate purposes |
| KPI | |
|---|---|
| ROE | 40.79 |
| ROCE | 28.5 |
| Debt/Equity | 1.19 |
| RoNW | 40.79 |
| PAT Margin | 15.67% |
| EBITDA Margin | 24.93% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 7.36 | |
| P/E (x) | 72.3 | |
| Promoter Holding | 96.96% | 87.09% |
| Market Cap | ₹7,991.79 Cr. |
The Aether Industries IPO is subscribed 6.26 times on May 26, 2022 5:00:00 PM (Day 3). The public issue subscribed 1.14 times in the retail category, 17.57 times in the QIB category, and 2.52 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 17.57 | 27,48,241 | 4,82,98,988 |
| NII | 2.52 | 19,47,222 | 49,13,835 |
| Retail | 1.14 | 45,43,517 | 51,97,494 |
| Employee | 1.06 | 1,17,213 | 1,24,269 |
| Total | 6.26 | 93,56,193 | 5,85,34,586 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including underwriting commission, brokerage and selling commission) | 25.47 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Issue and bidding/uploading charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 1.85 |
| 3 | Fees payable to the Registrar to the Offer | 0.04 |
| 4 | other | |
| 5 | Listing fees, SEBI filing fees, upload fees, Stock Exchanges processing fees, book building software fees and other regulatory expenses | 3.30 |
| 6 | Printing and stationery expenses | 1.39 |
| 7 | Advertising and marketing expenses | 5.20 |
| 8 | Fees payable to legal counsel | 3.36 |
| 9 | Fees payable to the Monitoring Agency | 0.02 |
| 10 | Miscellaneous | 2.60 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹642.00 | ₹642.00 |
| Open | ₹706.15 | ₹704.00 |
| Low | ₹699.85 | ₹701.00 |
| High | ₹776.75 | ₹774.40 |
| Last Trade | ₹776.75 | ₹774.40 |
Lead Manager Reports
Aether Industries IPO is a main-board IPO of 1,25,86,355 equity shares of the face value of ₹10 aggregating up to ₹808 Crores. The issue is priced at ₹642 per share. The minimum order quantity is 23.
The IPO opens on Tue, May 24, 2022, and closes on Thu, May 26, 2022.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Aether Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Aether Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Aether Industries IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Aether Industries IPO opens on Tue, May 24, 2022 and closes on Thu, May 26, 2022.
Aether Industries IPO lot size is 23, and the minimum amount required for application is ₹14,766.
You can apply in Aether Industries IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Aether Industries IPO will be done on Tuesday, May 31, 2022, and the allotted shares will be credited to your demat account by Thu, Jun 2, 2022. Check the Aether Industries IPO allotment status.
The Aether Industries IPO listing date is on Fri, Jun 3, 2022.
