Aether Industries announces launch of initial public offering
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Aether Industries Ltd. has announced public offering of 12586355 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 632.00 per share. The gross proceeds of the issue are expected to be Rs 80,804.40 lakhs. The company's initial public offer (IPO) will open on 24 May 2022 and is expected to close on 26 May 2022, subject to customary closing conditions. The price band of the issue has been fixed at Rs 610.00-642.00 per share. The IPO includes a fresh Issue of 12586355 Equity Shares of the Company at an price of Rs 642.00 per Equity Share.
The company has fixed the minimum bid lot for the issue at 23 shares with bids in multiples of 23. Aether Industries Ltd. anticipates using the proceeds of the issue for Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company Funding capital expenditure requirements for the manufacturing facility (“Proposed Greenfield Project) Funding working capital requirements of the Company General corporate purposes. HDFC Bank Limited,KOTAK MAHINDRA CAPITAL COMPANY LTD as lead manager(s) & Link Intime India Private Limited is the registrar, to the issue.
