Surat-based specialty chemical manufacturer Aether Industries Limited listed on the NSE at Rs 704 at 9.66% premium over its issue price.

The scrip got listed at BSE at Rs 706.15 per share, 9.99% per cent premium over its issue price of Rs 642. The company's share price closed at Rs 776.75 per share on the BSE, a 20.99% premium, and at Rs 774.40 per share on the NSE, an 20.62% premium.

As per NSE, the total quantity traded stood at 39.32 lakh shares, on BSE the total Quantity stood at 5.71 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 332.94 crore.

The market capitalization of the company post closing price stood at Rs. 9669.19 crore as per BSE and Rs. 9639.94 crore as per NSE.

The initial share sale with a face value of Rs 10 per equity share, consists of a fresh issue of equity shares aggregating to Rs 627 crore and an offer for sale (OFS) of up to 2,820,000 equity shares and the issue was closed on 26th May 2022. Qualified institutional buyer portion was subscribed 17.57 times. The reserved portion of non-institutional investors witnessed a subscription of 2.52 times. Retail and Employee was subscribed 1.14 times and 1.06 times respectively. Overall the issue was subscribed 6.26 times.

HDFC Bank Limited and Kotak Mahindra Capital Company Limited are the book running lead manager to the issue and Link Intime India Private Limited is the registrar to the offer.

Aether Industries started with a research and development (R&D) unit in 2013 and began commercial production in 2017. It caters to the pharmaceutical, agrochemical, material science, coatings, high performance photography, additives and oil & gas segments of the chemicals industry.

As of March 31, 2022, the Company's product portfolio comprised of over 25 products. The Surat-based company is the only manufacturer of 4MEP, MMBC, T2E, OTBN, NODG, DVL and Bifenthrin Alcohol in India and the largest manufacturer of 4MEP, T2E, NODG and HEEP in the world, by volumes; 4MEP, T2E, MMBC, NODG, BFA, OTBN, NMDG and DVL products were 100% imported into India from China four years ago and now Aether is selling these products in China.