By: ICN Bureau
Last updated : December 30, 2021 3:41 pm
HDFC Bank Limited and Kotak Mahindra Capital are the book running lead managers to the issue.
Specialty chemical company, Aether Industries has filed draft red herring prospectus (DRHP) with the capital markets regulator SEBI. The initial public offering (IPO) consists of a fresh issue of equity shares aggregating to Rs. 757 crores, and an offer for sale of up to 2,751,000 equity shares. The company is expecting raise Rs. 1000 crores. The company in consultation with lead managers may also consider raising Rs. 131 Crores by issuing equity shares through a preferential offer, prior to filing of the DRHP. The Surat based company recently raised over Rs. 100 crore from White Oak Capital and IIFL in a pre-IPO round.
Aether Industries Limited is a speciality chemical manufacturer in India focused on producing advanced intermediates and speciality chemicals involving complex and differentiated chemistry and technology core competencies.
Aether caters to the pharmaceutical, agrochemical, material science, electronic chemical, high performance photography, and oil and gas industry segments. Currently, it has a manufacturing capacity of over 6,000 MT per annum. The same will be increased in a year's time when the company has its new proposed green-field production site operational. Aether is the sole manufacturer in India for 7 of its products and the largest manufacturer in the world for 4 of its products; 8 of these products were 100% imported into India from China 4 years ago and now Aether is selling these products in to China.
HDFC Bank Limited and Kotak Mahindra Capital are the book running lead managers to the issue.