Ather Industries Limited has announced that its Initial Public Offering (IPO) will open on May 24 in the price band of ₹610- ₹642 per equity share.
The offer will close on May 26. The minimum bid lot is 23 shares and in multiples of 23 thereafter. IIFL Special Opportunities Fund – Series 9 & 10, SBI Fund Management Ltd., India Acorn Fund Ltd. and Ashoka India Equity Investment Trust Plc and Regents of the University have made a pre-IPO placement of 2,024,921 shares totaling ₹130 crore. of California – IIFL Asset Management Ltd. The estimated IPO size is ₹808.04 crore which includes fresh issue of ₹627 crore and Offer for Sale (OFS) of ₹181.04 crore.
Ather Industries is a specialized chemical manufacturer in India focused on the production of advanced intermediate and specialty chemicals incorporating complex and differentiated chemistry and technology core competencies.
As of March 31, the company had a portfolio of over 25 products.