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Specialized Chemical Firm Aether Industries Plans To File Up To Rs 1,000 Crore IPO Next Week

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Aether Industries started with an R&D unit in 2013, and started business production in 2017.

Specialty chemical company Aether Industries prepares to submit initial documents for an initial public offering of as much as Rs 1,000 crore next week, according to individuals familiar with the matter.

Kotak Mahindra Capital Business Ltd and HDFC Bank Ltd have been designated as merchant lenders to advise the business on the public issue, they added.Aether Industries began with an R&D unit in 2013, and started industrial production in 2017.

It deals with the pharmaceutical, agrochemical, material science, electronic chemical, high performance photography and oil and gas market sectors.

Presently, it has a capability of over 4,000 MT.The Surat-based business has actually just recently raised over Rs 100 crore from White Oak Capital and IIFL in the pre-IPO round.

The business's operating revenue grew to Rs 450.23 crore in FY21, from Rs 301.87 crore in FY20, and its net profit climbed 75 percent to Rs 71 crore in FY 21, from Rs 39.6 crore in FY20.According to people familiar with the matter, the business has actually settled the strategy to raise Rs 800-1,000 crore through an initial public deal (IPO) and is anticipated to file its draft red herring prospectus (DRHP) with the markets regulator Sebi next week.The pandemic has actually compounded the scenario even more as business throughout the world are searching for alternate supply options as they want to lower dependence on China and establish either local supply chain or alternative chain.As a result, several Indian players saw order inflows from international chemical gamers to meet the supply disruptions from China.

Among the just recently listed specialty chemicals companies, shares of Laxmi Organics, Rossari Biotech, Clean Science Technologies, Tatva Chintan and Ami Organics have actually offered returns in the series of 40 percent to 200 per cent from their problem rates.




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