Aether Industries share price — ✅ خرید وی پی ان ❇ ip ثایت vPn آی پی اختصاصی ◐

ژوئن 4, 2022

Aether Industries makes exchange debut with premium of 10% over issue price

Shares of Aether Industries made a relatively firm debut on the exchanges against recent listings on the exchanges.

Started in 2013, the Surat-headquartered Aether Industries focuses on producing advanced intermediates and speciality chemicals involving complex and differentiated chemistry and technology core competencies and its products find application in the pharmaceutical, agrochemical, material science, coating, high performance photography, additive, and oil and gas segments of the chemical industry.

On Friday, the company’s shares got listed with a premium of about 10 per cent above its issue price of Rs 642. It listed at Rs 706 on the BSE and at Rs 704 on the NSE, data showed.

At 1.03 p.m., the shares rose further and traded over 20 per cent higher at Rs 774 on the NSE.

“The company’s good listing can be attributed to a recovery in market sentiments, outstanding growth prospects of the company, and a good response from the investors. The company is one of the fastest-growing specialty chemical companies in India, having a high focus on d R&D, relying on differentiated chemistry and technological core competencies, and a robust product selection process,” said Santosh Meena, Head of Research at Swastika Investmart on the company’s listing.

The Indian chemical industry is witnessing a structural change due to the shift of manufacturing activities from China to India and the focus on green chemistry, Meena said.

“Those who applied for listing gains can maintain a stop loss of Rs 675. New investors can buy for the long term and existing investors are recommended to stay invested in the company.”

The company’s initial public offering was subscribed over six times.

The portions set aside for retail investors and employees were fully subscribed, as per reports.

The relatively firm listing of the Aether Industries comes close on the heels days after a weak listing of much-anticipated Life Insurance Corporation of India (LIC).

Paradeep Phosphates and Delhivery too made their debut on the exchanges recently, but with a mild premium.

Earlier this week, digital signature solution provider eMudhra made its debut on the exchanges with a premium of nearly 6 per cent above the issue price.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor

!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);fbq(‘init’,’550264998751686′);fbq(‘track’,’PageView’); .

ژوئن 3, 2022

Aether Industries locked at upper circuit after listing at 10% premium

Aether Industries’ shares were locked at the upper circuit on Friday, after debuting at Rs 706 apiece on the BSE, a 10-per cent premium over its issue price of Rs 642. The stock opened at Rs 704 on the National Stock Exchange (NSE).
At 10:02 AM, the shares were 21 per cent higher against the issue price, at Rs 776.75, with only buyers on the counter of the specialty chemical manufacturer. A combined 3.8 million equity shares had changed hands and there are pending buy orders for 1.2 million shares on the NSE and BSE, exchange data shows. In comparison, the S&P BSE Sensex was up 1 per cent at 56,387 points.
The Rs 800-crore initial public offer (IPO) was subscribed 6.26 times. The qualified institutional buyers (QIBs) category was subscribed 17.57 times, the non-institutional investor’s category was subscribed 2.52 times, and the retail investor’s category was subscribed 1.14 times.
Aether plans to utilise Rs 627 crore of fresh issue to fund capital expenditure requirements of Greenfield projects, repayment of outstanding borrowings, and general corporate purposes.
The Gujarat-based company focuses on producing advanced intermediaries and specialty chemicals that involve complex and differentiated chemistry with technology as core competencies. Analysts believe that Aether’s multiple chemistry competencies to use for a wide array of products makes it a distinguished market player than other chemical companies.
According to Frost & Sullivan, Aether’s revenue for its key products has grown much faster than the industry highlighting that it is able to take away market share from its competitors, which are mostly in China.
“The company benefits from the established relationships with multinational, regional and local customers. In particular, the company proposes to introduce new products with varied applications across industries. The company also is looking to connect with existing and potential customers where it can support them with its CRAMS and contract / exclusive business models,” IIFL Securities had said in IPO note.
While the issue was priced at a P/E of 72.30 based on annualized FY22 numbers, Aayush Agrawal, Senior Analyst, Swastika Investmart believes that the company deserves this premium multiple due to its phenomenal growth prospects. Post listing, long-term investors may accumulate the stock, he suggests.
Analysts at ICICI Securities, too, said Aether is a niche player in the speciality chemical business and enjoys dominating market share in few select products with high margins. However, they opine that the valuations (~58.9x EV/EBITDA and ~72.4x P/E for 9MFY22 (annualised)) look demanding at the upper price band.
“The company derives a major chunk of revenues from marquee customers without having long term contracts with all of these customers. The dependency on certain industries for significant portion of sales and dependency on certain export incentives,” the brokerage firm had said in IPO note.