Aether Industries IPO opens today. Should you subscribe? GMP, other detail
Specialty chemicals company Aether Industries' initial public offering (IPO) will open for public subscription today and conclude on May 26.
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The firm has fixed a price band of ₹610-642 per share for its issue. Ahead of IPO, Aether Industries garnered ₹240 cr from anchor investors.
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day 1, Aether Industries IPO has been subscribed 0.25 times with retail investors' category booked 0.29, NIIs 0.03x and QIBs 0.36x, BSE data showed.
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company has cut the size of the fresh issue of equity shares to ₹627 crore from ₹757 crore planned earlier following the pre-IPO placement.
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Aether Industries shares are GMP of ₹4 in the grey market shares of company are expected to list on stock exchanges BSE and NSE on June 3, 2022.
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fresh issuance will be used to capex requirements for proposed new project in Surat, Gujarat, fund working capital requirements for payment of debt.
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So, on valuation front, there is very little space left for the investors. Those who have medium to long term time horizon can subscribe the public issue once it opens,
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