Ather Industries IPO: The share allotment status of the Initial Public Offer (IPO) of Ather Industries has already been finalized and the winning bidders are to get credit in their demat accounts by Thursday, June 2. Ather Industries IPO Seeing a good subscription rate of 6.26 times the number of shares for sale, qualified institutional buyers rushed to subscribe to the issue. The Ather Industries IPO, which opened from May 24 to May 26, had a price band of Rs 610-642 with a face value of Rs 10 for each equity share. Ather Industries IPO The stock is ready to be listed on the market on Friday, June 3.
Ather Industries IPO GMP Today
As per IPO Watch, shares of Ather Industries are available today at a gray market premium of Rs 15, which is Rs 5 more than yesterday evening’s gray market premium of Rs 10. It means Ather IPO GMP today is Rs 15, which means Ather Industries shares are trading at Rs 657 (Rs 642 + Rs 15) in gray market.
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 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 IPO: What Experts Say on Listing Profits
Experts said the IPO of Ather Industries is likely to open at a premium, given the good subscription rates. “Ather Industries is a distinguished specialty chemical manufacturer with wide range of end products and applications. Its Rs 808 crore IPO saw fresh issue of Rs 627 crore and OFS of Rs 181 crore subscribed 6.26 times. Anand Rathi Shares & Stock Brokers Narendra Solanki, Head of Equity Research (Fundamentals), IPO, said, “Considering healthy oversubscription and fully subscribed anchor book, the IPO is expected to open at a premium.
“Incorporated only seven years ago Ather Industries has become one of the fastest growing specialty chemical companies” India Growing its revenue at a CAGR of 49.5 per cent between FY19 to FY21. Considering the growth opportunities of specialty chemicals in pharma, agrochemicals and FMCG space, and improving prospects for contractual manufacturing and creams under the Make-in-India initiative. We had a ‘subscribe-for long term’ recommendation for this IPO,” he said while talking about the Ather Industries IPO.
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