Aether Industries shares listed on the BSE and NSE on Friday, June 3. Shares of the specialty chemicals manufacturer began trading on BSE at Rs 706.15 per share up 9.99 per cent from the upper end of IPO price band of Rs 610-642 per share. On NSE the shares were trading at Rs 704 apiece.
The initial public offering (IPO) of Aether Industries was open for subscription between May 24-26 as the company sold its shares in the range of Rs 610-642 to raise Rs 808 crore via primary route. The issue received a solid response from investors with an overall subscription of more than 6.26 times, thanks to solid bidding from institutional buyers whose portion was subscribed 17.6 times and HNI allocation was booked 2.5 times.
The specialty chemical manufacturer came with its Rs 808 crore IPO last month. Of this Rs 627 crore was a fresh issue of equity shares while the remaining Rs 181 crore was an offer for sale (OFS) by existing shareholders of the company. Post issue, the promoter & promoter group shareholding will drop to 87.1 per cent from 97 per cent. Public shareholding in the company will increase to 12.9 per cent from 3 per cent earlier.
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