Subscription in specialty chemicals maker Aether Industries Ltd.'s Rs 808-crore initial public offering continued to be tepid on the second day.
The offer was subscribed 33% on the first day, as it was launched amid global volatility on account of the Russia-Ukraine crisis and inflation pressures.
The Surat-based company has set a price band of Rs 610-642 apiece for its IPO, which consists of a fresh issue worth Rs 627 crore and an offer for sale of 28.20 lakh shares by the promoter group and other selling shareholders.
That will fetch investors Rs 181 crore at the upper end of the price band.
The company plans to evenly distribute the proceeds from the fresh issue for capital expenditure for a greenfield project, pre-payment or repayment of borrowings and working capital requirements.
Also Read: Aether Industries IPO: All You Need To Know
Subscription Status: Day 2
The IPO was subscribed 0.49 times or 49% as of 5 p.m. on May 25.
Institutional investors: 0.39 times.
Non-institutional investors: 0.16 times.
Retail investors: 0.67 times.
Employees: 0.93 times.
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