Ather Industries IPO (Initial Public Offering) is going to hit the primary markets on 24th May 2022 and will be open for bidding till 26th May 2022. The chemical company aims to raise 808.04 crore from its public offer. Out of 808.04 crores, the company aims to raise 627 crores through fresh issues while the rest 181.04 crore is expected to come through Offer for Sale (OFS). As per market observers, Ather Industries shares are available at a premium of 21.
Ather Industries IPO GMP today
According to market experts, Ather Industries IPO Gray Market Premium (GMP) today is 21 means that the public issue is bullish before the date of opening of the gray market issue.
Ather Industries IPO Date
The Public Issue will open for subscription on 24 May 2022 and will remain open for subscription till 26 May 2022.
Ather Industries IPO Price Band
The chemical company has fixed the price band for its public offer: from 610 642 per share.
Ather Industries IPO Review
Speaking on the IPO of Ather Industries, Avinash Gorakshakar, Head of Research, Profitmart Securities, said, “As of the timings reported at RHP, the company has registered sustained growth in both top and bottom line. There was a low holding space but it opted otherwise. Hence, on the valuation front, there is very little room left for investors. Those who have medium to long term tenors can subscribe after the public issue opens.”
On whether to subscribe to the public issue or not, Ravi Singhal, vice chairman, GCL Securities, said, “Public issue price is a bit high. However, the fundamentals of the company are very strong. Those who have a long-term outlook, they can go for public issues. You can subscribe.”
Ather Industries IPO Financials
In the 9 months of FY22, Ather Industries posted . posted total revenue of 449.3 crore while its PAT was 82.9 crore in this period. In FY19, its total revenue was 203.2 crore while its PAT was 23.3 crores. Similarly in FY20, its total revenue/PAT was 303.7 crores / 39.9 crores while its total revenue / PAT in FY21 was 453.7 crore / 71.1 crores.
Ather Industries IPO Objectives
The chemical company has made it clear that the money raised from its public issue will be used to pay off debt, finance capital expenditure and working capital requirements of the company and other general corporate requirements.
Other Ather Industries IPO Details
– Ather Industries IPO Lot Size: One bidder will be able to apply in lots and one lot of IPO will consist of 23 Ather Industries shares.
– Ather Industries IPO Allotment Date: The tentative date for allotment of shares of Ather Industries Limited is 31 May 2022.
– Ather Industries IPO Listing: The public issue is proposed to be listed on BSE and NSE and the tentative date of stock listing is 3rd June 2022.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.