InvestorQ : Can you tell me about the proposed IPO of Aether Industries?
Rashi Mehra made post

Can you tell me about the proposed IPO of Aether Industries?

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Archita Jajjoo answered.
5 months ago
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Aether Industries, the specialty chemicals company based out of Surat, will shortly file its draft red herring prospectus (DRHP) with SEBI for its proposed Rs.1,000 crore IPO. The lead managers to the issue will be Kotak Mahindra Capital and HDFC Bank. Aether started commercial production in 2017 and caters to pharma, agrochemical, material science, electronic chemical and the hydrocarbons industry as a supplier of specialty chemicals.

Aether has already raised Rs.100 crore as pre-IPO funding from White Oak Capital and IIFL. For FY21, its net revenues grew 50% at Rs.450 crore and profits were up 75% at Rs.71 crore. Specialty chemicals are having a wonderful time as global buyers are reducing their dependence on China after the pandemic. Also China has cut down on production of specialty chemicals due to internal environmental restrictions. More details are awaited.

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