All that you should know about the Company before applying for the IPO.
The public issue of equity shares of Aether Industries Limited will open for subscription on May 24, 2022 and closes on May 26, 2022. It is expected to list on the stock exchanges on June 03, 2022. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.
Incorporated in 2013, it is a specialty chemical manufacturer in India focused on the core competencies model of chemistry and technology. It was the largest manufacturer of 4MEP, T2E, NODG, and HEEP in the world (in CY 2020) and is the sole manufacturer of 4MEP, T2E, OTBN, NODG, DVL, BFA, and MMBC in India. It has eight chemistry competencies to use for wide array of products, which enables it to cater to niche and advanced intermediate requirements of a wider range of end-products and applications. Its vision is to create a niche in the global chemical industry with a creative approach to chemistry, technology, and systems that would lead to sustainable growth.
It develops advanced intermediates and specialty chemicals products having applications in the pharmaceutical, agrochemicals, material science, coatings, high-performance photography, additives, and oil & gas segments of the chemicals industry. Most of its product portfolio was developed for the first time in India and constitute 100% import substitution, thus furthering the “Make in India” or “Atma -Nirbharta” campaigns of the Government of India.
The company has three business models: (i) Large scale manufacturing of intermediates and specialty chemicals; (ii) Contract Research and Manufacturing Services (CRAMS) and (iii) Contract/exclusive manufacturing. It is among the few Indian specialty chemical companies to have successfully launched these three separate business models in just 5 years into commercial manufacturing.
It has a specialized R&D team of 164 scientists and engineers including 92 scientists (with PhDs or Master of Science degrees) and 72 chemical engineers. It has two sites at Sachin in Surat (Gujarat, India). Some of its key customers are Adama Group (Israel), Altana AG (Germany), Aramco Performance Materials LLC (US/Saudi Arabia), Austin Chemical Company, Inc. (USA), Divis Laboratories, Dr. Reddy’s Laboratories, and UPL Limited.
Ashwin Jayantilal Desai, Purnima Ashwin Desai, Rohan Ashwin Desai, Dr. Aman Ashvin Desai, AJD Family Trust, PAD Family Trust, RAD Family Trust, AAD Family Trust, & ADD Business Trust.
Given below are the objectives of the Company –
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
The Offer comprises a Fresh Issue by the company and an Offer for Sale by the selling shareholders. The company will not receive any proceeds from the Offer for Sale.
|IPO Size||₹ 808.04 Crore *|
|Offer Mix||Fresh issue ₹ 627 Crore + Offer For Sale ₹ 181.04 Crore|
|Price Band||₹ 610 - ₹ 642|
|Lot Size||23 Shares (& in multiples thereof)|
|Face Value||₹ 10|
|Application Amount||Min. ₹ 14,766 (1 lot) | Max. ₹ 1,91,958 (13 lots) [at upper price band]|
|Listing on||NSE & BSE|
|Registrar||Link Intime India Private Limited|
|Cut-off time for UPI Mandate Confirmation||27-May-2022 (up to 12:00 PM)|
₹ 400.45 Crore
(50% of Issue Size)
₹ 120.13 Crore
(15% of Issue Size)
₹ 280.31 Crore
(35% of Issue Size)
|Employee Reservation Portion||₹ 7.15 Crore|
|IPO Opens||May 24, 2022|
|IPO Closes||May 26, 2022|
|Finalization of the basis of allotment||May 31, 2022|
|Unblocking of funds / Initiation of refunds||June 01, 2022|
|Credit of equity shares to Demat accounts||June 02, 2022|
|Listing of equity shares||June 03, 2022|
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