Aether IPO GMP today
According to market observers, Aether IPO GMP today is ₹10, which is ₹6 higher from its yesterday's grey market premium (GMP) of ₹4.
Aether IPO subscription status
After day one of bidding, the public issue worth ₹808.04 crore has been subscribed 0.33 times whereas its retail portion has been subscribed 0.54 times.
Aether IPO review
Giving subscribe tag to Aether IPO, Astha Jain, Senior Research Analyst at Hem Securities said,, "Company is bringing the issue at price band of ₹610-642 per share at p/e multiple of 72x on post issue 9Months annualized PAT basis. Company with its differentiated portfolio of market-leading products has focus on R&D to leverage its core competencies of chemistry and technology. Company has long standing relationships with a diversified customer base & with synergistic business models focused on large Scale Manufacturing, CRAMS and Contract Manufacturing .On financial front, company has shown strong and consistent financial performance . Company with its experienced promoters and senior management with extensive domain knowledge is looking decent avenue to deploy the funds in. Hence we recommend “Subscribe" on issue."
Giving 'subscribe with caution' tag, Vinit Khandare, CEO and Founder at MyFundBazaar said,, "Being the fastest-growing specialty chemical companies in the country, Aether Industries consists of a fresh issue of equity shares aggregating up to ₹627 crore and an offer for sale of 2.8 million shares aggregating up to ₹181 crore by the shareholders and promoters. Considering it’s dominant position in select specialty chemicals and it’s growth prospects from end-use applications, along with a stretched valuation being a cause of concern, one can be confident about the company’s prospects 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 financials
In 9 months of financial year 2021-22, Aether Industries has posted total revenue of ₹449.3 crore while its PAT (Profit After Tax) stood at ₹82.9 crore in this period. In FY19, its total revenue stood at ₹203.2 crore while its PAT stood at ₹23.3 crore. Likewise in FY20, Aether Industries Limited reported total revenue/PAT at ₹303.7 crore / ₹39.9 crore whereas in FY21 its total revenue / PAT stood at ₹453.7 crore / ₹71.1 crore.
Aether Industries IPO objectives
The chemical company has made it clear that the money raised from its public issue will be used for debt repayment, funding capital expenditure and working capital requirements of the company and other general corporate requirements.
Other Aether IPO details
Likely date for share allocation is 31st May 2022 whereas most likely Aether IPO listing date is 3rd June 2022.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
