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Aether Industries' IPO subscribed 6.3 times on final day of offer

Aether's Rs 808-crore offering capped a busy month for IPOs, which saw a cumulative mop up of Rs 30,140 crore by eight companies

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IPO | Investors | Stock Market

BS Reporter  |  Mumbai 

initial public offerings

Aether Industries’ initial public offering (IPO) garnered 6.3 times due to strong demand from qualified institutional buyers (QIBs).

Aether’s Rs 808-crore offering capped a busy month for IPOs, which saw a cumulative mop up of Rs 30,140 crore by eight companies. The record fund raise came despite a selloff in the secondary market.

The QIB portion of Aether’s was subscribed 17.6 times, high networth individual portion 2.52 times and retail portion 1.14 times. Aether Industries is a manufacturer of advanced intermediates and active ingredients, catering to the pharma and speciality chemical industries. The company raised Rs 627 crore of fresh capital through the . The issue also consisted of secondary share sale worth Rs 181 crore.

The price band for the issue is Rs 610-642 per share. At the top-end, Aether is valued at nearly Rs 8,000 crore on a post-dilution basis.

The top-end of the price band is 75.6 times its trailing 12-month earnings per share of Rs 8.5. Peers Clean Science & Technology and Fine Organic are trading at P/E multiple of 82.7x and 80.2x, respectively, as per analysts.

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First Published: Thu, May 26 2022. 20:19 IST
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