Aether's Rs 808 crore offering capped a busy month for IPOs, which saw a cumulative mop of Rs 30,140 crore by eight companies. The record fund raise came despite a selloff in the secondary market. The QIB portion of Aether s was subscribed 17.6 times, the high networth individual portion 2.52 times and the retail portion 1.14 times. Aether Industries is a manufacturer of advanced intermediates and active ingredients, catering to the pharma and specialty chemical industries. The issue raised Rs 627 crore of fresh capital through the issue, which included a secondary share sale worth Rs 181 crore. The price band for the issue is Rs 610 -- 642 per share. Aether is valued at around Rs 8,000 crore on a post-dilution basis. The price band's 12-month earnings per share is 75.6 times its 12 month earnings per share of Rs 8.5. Peers Clean Science Technology and Fine Organic are trading at P E multiples of 82.7 x and 80.2 x, respectively, per analysts.
Business Standard has always strived to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has made our resolve and commitment stronger. Even during the difficult times arising out of Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We have a request.
Many people who have subscribed to our online content have been supportive of our subscription model. We want to give you better and more relevant content, so we need to add more subscriptions to our online content. We believe in free, fair, and credible journalism.