IPO - Aether Industries Limited IPO

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Aether Industries Limited IPO Details

Business Overview:


Incorporated in 2013, Aether Industries Limited is a manufacturer of speciality chemicals. The company is the sole manufacturer in India of chemicals such as 4-(2-Methoxyethyl) Phenol (4MEP), 3-Methoxy-2-Methylbenzoyl Chloride (MMBC), Thiophene-2-Ethanol (T2E), Ortho Tolyl Benzo Nitrile (OTBN), N-Octyl-D-Glucamine, Delta-Valerolactone and Bifenthrin Alcohol.

The company has three business models: Large scale manufacturing of intermediates and speciality chemicals, CRAMS (contract research and manufacturing services) and Contract manufacturing.

Aether Industries has two manufacturing sites at Sachin in Surat, Gujarat. Manufacturing Facility 1 is a 3,500 square metre facility including R&D and Hydrogenation Facilities and Pilot Plant. Manufacturing Facility 2 encompasses roughly 10,500 square metres, with an installed capacity of 6,096 MT per year spread among three buildings and 16 production streams as of September 30, 2021.

As of March 31, 2022, Aether Industries Limited's product portfolio comprised over 25 products which were sold to over 34 global companies in 18 countries and to over 154 domestic companies. The company is the largest manufacturer of 4MEP, T2E, NODG and HEEP products in the world by volume.

Competitive strengths

Differentiated portfolio of market-leading products.

Focus on R&D to leverage the core competencies of chemistry and technology.

Long-standing relationships with a diversified customer base.

Synergistic Business Models focused on Large Scale Manufacturing, CRAMS and Contract Manufacturing.

Focus on Quality, Environment, Health and Safety (QEHS).

Strong and consistent financial performance.

Experienced Promoters and Senior Management with extensive domain knowledge.

Company Financials

Summary of financial Information (Restated Consolidated)

Particulars

For the year/period ended (₹ in million)

 

31-Dec-21

31-Dec-20

31-Mar-21

31-Mar-20             31-Mar-19

Total Assets

 7,095.61

     4,000.95

      4,529.44              3,004.67               2,066.75          


Total Revenue

  4493.15

     3,373.41

        4,537.89           3,037.81             2,032.77


Profit After Tax

  829.06

       482.54      

     711.19                  399.56                    233.35                 


IPO Details

Issue Type

Book Built Issue IPO

Face Value

₹10 per equity share

IPO Price

₹610 to ₹642 per equity share

Market Lot

23 Shares

Min Order Quantity

23 Shares

Listing At

BSE, NSE

Issue Size

[.] Eq Shares of ₹10 (aggregating up to ₹808.04 Cr)

Fresh Issue

[.] Eq Shares of ₹10 (aggregating up to ₹627.00 Cr)


IPO Open Date

May 24, 2022

IPO Close Date

May 26, 2022

Basis of Allotment Date

May 31, 2022

Initiation of Refunds

June 01, 2022

Credit of Shares to Demat Account

June 02, 2022

IPO Listing Date

June 03, 2022

IPO Bid Details:

BID LOT

23

46

69

92

115

138

161

AMOUNT

14766

29,532

44298

59064

73830

88596

103,362

BID LOT

184

207

230

253

276

299

AMOUNT

118128

132894

147660

162426

177192

191958