Aether Industries Files Draft Papers For Fund Raising Through IPO

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Aether Industries Files Draft Papers For Fund Raising Through IPO

Aether Industries has filed draft papers with SEBI for raising funds through the IPO route

New Delhi:

Aether Industries, a speciality chemicals company has filed its preliminary prospectus with Securities and Exchange Board of India (SEBI) for raising Rs 1,000 crore through the initial public offer (IPO) route. 

The public issue consists of a fresh issue of equity shares aggregating to Rs 757 crore and an offer-for-sale of up to 2,751,000 equity shares, according to the draft red herring prospectus (DRHP).

The company may also consider raising Rs 131 crore by issuing equity shares through a preferential offer.

Aether Industries is a speciality chemicals manufacturer in India focused on producing advanced intermediates and speciality chemicals involving complex and differentiated chemistry and technology core competencies.

It 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, electronic chemical, high performance photography and oil and gas industry segments.

The Surat-based company raised over Rs 100 crore from White Oak Capital and IIFL in a pre-IPO round.

HDFC Bank and Kotak Mahindra Capital Company are the book running lead managers to the issue.

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