Surat based specialty chemical manufacturer, Aether Industries Ltd. has recently submitted its draft red herring prospectus (DRHP) to SEBI for going public with IPO. The company plans to raise around Rs. 1,000 Crore via the IPO process. Roughly 27.6 lakh equity shares will be available for sale and fresh issue of Rs. 757 Crore equity shares will be offered during the IPO. Aether Industries focuses on manufacturing of speciality chemicals for pharma, agri, oil & gas, electronic sectors. The company started its operations during year 2013. The company claims to be the fastest growing specialty chemical companies in India, growing at a CAGR of nearly 60% between Fiscal 2018 and Fiscal 2021. It has production capacity of over 6000 MT. Company achieved annual revenues of Rs. 4,500 million during 2021 and has over 700+ employees. Aether will take services of HDFC Bank and Kotak Mahindra Capital as their book running lead managers to the bring in the IPO.
