Good listing of shares of Ather Industries.
Aether Industries Listing: Investors of specialty chemical manufacturer Ather Industries have got a profit of Rs 64 on a share. The chemical company of Gujarat produces advanced intermediates and specialty chemicals.
Specialty chemical company Ather Industries (Aether Industries) had a good start in the stock market. The share of Ather Industries was listed at Rs 706.15 at a premium of 10 per cent on the BSE. While NSE (NSE) but the stock was listed at Rs 704 at a premium of 9.66 per cent. The stock has risen after the listing. The price band of the IPO was Rs 642 per share. The stock climbed 21 per cent to reach an all-time high of Rs 776.75 on the BSE. The company raised Rs 808.04 crore through IPO. The chemical company of Gujarat produces advanced intermediates and specialty chemicals.
50 per cent of the issue was reserved for Qualified Institutional Buyers (QIBs). While 35 per cent and 15 per cent were reserved for retail investors and non-institutional investors, respectively.
The public offer included a fresh issue of Rs 627 crore and an offer for sale of Rs 181 crore. The issue price band was Rs 610-624 per share. The company had raised Rs 240 crore from anchor investors.
After the listing, the company joined the list of companies like Clean Science and Technology, Navin Fluorine International, Vinati Organics, PI Industries and Fine Organic Industries.
IPO was subscribed 6.26 times
The IPO of Ather Industries was open from 24 to 26 May. The issue was subscribed 6.26 times. The share of qualified institutional buyers (QIBs) was subscribed 17.57 times and that of non-institutional investors (NIIs) 2.52 times. The share of retail investors and employees was full.
The company will use the funds raised from the fresh issue to meet capital requirements for greenfield projects. Apart from this, outstanding will be done for borrowing and other corporate purposes. The company’s products are in pharmaceutical, agrochemicals, material science and coatings.
Ather Industries’ net profit increased from 14.30 percent to 18.45 percent in the nine months ended December 31, 2021. However, in the 12 months ended March 2021, the company’s revenue fell by 49.04 percent. The company’s revenue was 50.02 percent in the financial year 2020.
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Source: www.tv9hindi.com
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