Aether Ipo: Gmp, subscription status, finances, review. Should you apply?
Ether IPO: Aether Industries Limited’s initial public offering (IPO) opened for subscription on May 24, 2022 and will remain open for auction until May 26, 2022. According to Aether’s IPO subscription status, after the first day of the offering, the public issue was subscribed 0.33 times while its retail part was subscribed 0.54 times. The chemical company aims to increase ₹808.04 crore from its public offering of which ₹627 crores are expected from new issues as ₹181.04 crore is expected to come via the offer-to-sell (OFS) route. The Aether IPO price range has been set at ₹610 to ₹642 per share and its shares are available at a premium of ₹10 on the gray market today.
Aether IPO GMP Today
According to market watchers, Aether IPO GMP is today ₹10, which is ₹6 more than its gray market (GMP) premium of yesterday ₹4.
Aether IPO Subscription Status
After the first day of the call for tenders, the public issue is worth ₹808.04 crore was subscribed 0.33 times while its retail part was subscribed 0.54 times.
Aether IPO Review
Giving a subscription tag to Aether’s IPO, Astha Jain, Senior Research Analyst at Hem Securities, said, “The company brings the issue to a price range of ₹610-642 per share at a p/e multiple of 72x on an annualized PAT basis 9 months after issuance. The company, with its differentiated portfolio of market-leading products, is focused on R&D to leverage its core competencies in chemistry and technology. The company has longstanding relationships with a diverse customer base and synergistic business models focused on large scale manufacturing, CRAMS and contract manufacturing. Financially, the company has shown strong and consistent financial performance. The company with its experienced promoters and senior management with deep domain knowledge is looking for a decent avenue to deploy the funds. Therefore, we recommend “Subscribe” on the issue.”
Tagging “subscribe with caution,” Vinit Khandare, CEO and Founder of MyFundBazaar, said, “As the fastest growing specialty chemical companies in the country, Aether Industries is a new issue of shares grouping up to ₹627 crore and a sale offer of 2.8 million shares totaling up to ₹181 crore by shareholders and promoters. Given its dominance in certain specialty chemicals and its prospects for growth from end-use applications, as well as a stretched valuation being a cause for concern, one can be confident about the prospects of the business given its inherent strengths and the likely growth of the Indian chemical industry. – one can “subscribe” or “subscribe with caution” to the IPO.”
Aether IPO Finances
During the 9 months of the 2021-22 financial year, Aether Industries recorded total sales of ₹449.3 crores while its PAT (Profit After Tax) stood at ₹82.9 crores during this period. In FY19, its total revenue was ₹203.2 crores while its PAT was ₹23.3 crore. Similarly, in FY20, Aether Industries Limited reported total revenue/PAT at ₹303.7 crore / ₹39.9 crore while in FY21 its total revenue/PAT stood at ₹453.7 crore / ₹71.1 crores.
Aether Industries IPO Objectives
The chemical company has made it clear that the money raised from its public offering will be used for debt repayment, funding capital expenditures and working capital needs of the company and other general business needs. ‘business.
Other Aether IPO Details
The likely grant date for the shares is May 31, 2022, while Aether’s most likely IPO date is June 3, 2022.
Warning: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.