Aether Industries IPO allottees earn HUGE profit as company shares zoom 21% in debut trade

Aether Industries shares surged 21 per cent against its issue price of Rs 642.

New Delhi: Shares of speciality chemicals company Aether Industries on Friday surged 21 per cent against its issue price of Rs 642. The stock made its debut at Rs 706.15, registering a jump of 9.99 per cent from the issue price on BSE. It rallied 20.98 per cent to settle at its upper circuit limit of Rs 776.75. On NSE, it was listed at Rs 704, a premium of 9.65 per cent. The stock jumped 20.62 per cent to end at Rs 774.40.

In volume terms, 5.71 lakh shares were traded on BSE and over 39.32 lakh shares at NSE during the session.

The company's market valuation stood at Rs 9,669.19 crore on BSE.

The initial public offer of Aether Industries was subscribed 6.26 times last month.

The initial share sale had a fresh issue of up to Rs 627 crore and an offer-for-sale of up to 28,20,000 equity shares. Its price range was fixed at Rs 610-642 per share. Also Read: WFH ending for TCS employees? Check latest update on work from home rules

Aether Industries is a speciality chemicals manufacturer in India, focused on producing advanced intermediates and speciality chemicals, involving complex and differentiated chemistry and technology core competencies. Also Read: Markets succumb to fag-end sell-off; Sensex drops 49 points