Ather Industries IPO: The initial public offering (IPO) of specialty chemicals company Ather Industries witnessed a decent subscription rate of 6.26 times compared to the number of shares for sale. The response was mainly supported by qualified institutional buyers, who rushed to book more than 17 times the shares allotted to them. Ather Industries IPOLtd., which opened earlier this week, fixed the price band of its shares in the range of Rs 610-642 to raise Rs 808 crore through the primary route. with ether IPO Already closed for bidding, investors are now looking at the share allotment date.
Ather Industries IPO: Subscription Status
after three bids Ather IPO, which is valued at Rs 808.04 crore, has been subscribed 6.26 times as bidders have booked 5,85,34,586 shares against the issue size of 93,56,193 shares. This was supported by QIBs, who subscribed 17.57 times or 4,82,98,988 times against the 27,48,241 shares set aside for them. The quota for retail bidders was subscribed 1.14 times, where they subscribed 51,97,494 shares. On the other hand the allottees got 1.06 times the membership rate. The portion set aside for non-institutional investors got subscribed 2.52 times the issue size.
Ather Industries IPO GMP Today
As per IPO Watch, shares of Ather Industries are available today at gray market premium of Rs 10, which is Rs 7 higher than yesterday evening’s gray market premium of Rs 3. It means Ather IPO GMP is today Rs 10, and share is Ather Industries trading at Rs 652 (Rs 642 + Rs 10) in gray market. Market observers said negative sentiment in the secondary market took its toll on Ather Industries’ IPO GMP, but it picked up momentum later.
However, market experts also suggest investors that GMP is unofficial data, which is non-regulated. Hence, GMP adherents are advised to look at the company’s financial position as well as the company’s balance sheet will give a better picture of the company’s fundamentals.
Ather IPO Share Allotment, Listing Date
The share allotment of Ather Industries IPO is likely to take place on Tuesday, May 31 next week. The share allotment can be checked on the official website of BSE and the website of Registrar Link Intime India. The shares will be listed on May 31. The listing date for the Ather IPO is likely to be May 23.
Ather IPO: Issuance Purpose
The IPO of Ather Industries is a combination of fresh issue of Rs 627 crore and OFS share of Rs 181 crore. The company will not receive any income from the OFS portion. Out of the fresh issue net proceeds, Rs 163 crore will be used for the proposed greenfield expansion; Rs 137.9 crore will be used for repayment/prepayment of loan and the remaining Rs 165 crore will be used to meet the working capital requirement of the company.
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