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Aether to go public with Rs 1000 cr IPO

Registers 60% CAGR of nearly 60% between Fiscals 2018-21

Aether has been a pioneer in the Indian Specialty Chemicals market, says F&S report

MUMBAI, Dec 29 (The CONNECT) - Specialty chemical company Aether Industries has filed its draft red herring prospectus (DRHP) with the capital markets regulator SEBI targeting to raise about Rs 1,000 crore, market sources said.

The initial public offering (IPO) consists of a fresh issue of equity shares aggregating to Rs. 757 Crores, and an offer for sale of up to 2,751,000 equity shares, according to the DRHP.

Aether Industries Limited is focused on producing advanced intermediates and speciality chemicals involving complex and differentiated chemistry and technology core competencies. It registered a CAGR of nearly 60% between Fiscal 2018 and Fiscal 2021. The company's revenue from operations grew 49% to Rs. 450 Crores in Fiscal 2021 from Rs. 302 Crores in Fiscal 2020 and its net profit climbed 78% to Rs 71 Crores from Rs. 40 Crores, respectively.

The foundation of Aether is its in-house research and development capabilities. Their chemistry and technology core competencies and all of their products have been developed by their own R&D team, scaled up in their Pilot Plant, and launched into production employing in-house design and engineering. Aether caters to the pharmaceutical, agrochemical, material science, electronic chemical, high performance photography, and oil and gas industry segments. Currently, it has a manufacturing capacity of over 6,000 MT per annum.

According to the F&S Report quoted in the DRHP, “Aether has been a pioneer in the Indian Specialty Chemicals market. Expertise in large range of chemistries allows Aether to support multiple end use industries. All the chemistry and technological competencies have been developed in-house which is a huge strength of Aether’s R&D team.”  

HDFC Bank Limited and Kotak Mahindra Capital Company Limited are the book running lead managers to the issue.

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