Aether zoomed as much as 20.99 per cent to hit the upper circuit band of Rs 776.75.New Delhi: Shares of Aether Industries made a strong debut on the stock exchanges today, listing at a premium of 9.99 per cent over the issue price of Rs 642. The stock opened at Rs 706.15 on the BSE index. The chemicals company zoomed as much as 20.99 per cent to hit the upper circuit band of Rs 776.75 in early deals after a solid start.On NSE, the shares rallied 20.62 per cent to hit their intraday high of Rs 774.40.The public issue was open for subscription between May 24 and May 26.Aether reduced the size of the fresh issue of equity shares to Rs 627 crore from Rs 757 crore planned earlier following the pre-initial public offering (IPO) placement.Apart from the fresh issue, there was an offer-for-sale (OFS) of up to 28.2 lakh equity shares.The company raised around Rs 240 crore from anchor investors ahead of its initial share sale.A total of 25 funds got shares in the anchor round. This included Goldman Sachs, Nomura, SBI Mutual Fund (MF), Aditya Birla Sun Life MF, Kotak MF, Axis MF, IDFC MF and Tata MF.Aether started with a research and development (R&D) unit in 2013 and began commercial production in 2017. It caters to the pharmaceutical, agrochemical, material science, electronic chemical, high-performance photography and oil and gas industry segments.The company’s operating revenue grew to Rs 450 crore in FY21 (2020-21) from Rs 302 crore in FY20 (2019-20). And, its net profit climbed to Rs 71 crore in FY21, from Rs 40 crore in FY20.
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