Aether Industries IPO Subscribed 6.25 Times On Final Day
The Rs 808-crore initial public offering of Aether Industries saw strong demand on its final day, led by institutional investors.
The Rs 808-crore initial public offering of Aether Industries Ltd. saw strong demand on its final day, led by institutional investors.
The IPO was subscribed 6.25 times at closing, after subscribing 49% on day two.
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 28.2 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.
Subscription Status: Day 3
The IPO was subscribed 6.26 times at 5:00 p.m. on May 26.
Institutional Investors: 17.57 times.
Non-institutional investors: 2.52 times.
Retail investors: 1.14 times.
Employees: 1.06 times.