HDFC Bank Limited and SBI Capital Markets Limited were the book running lead managers (BRLMs), on the qualified institution placement (QIP) of equity shares by Aether Industries which included a fresh issue of equity shares worth ₹750 crores at a price of ₹936 per equity share including a premium of ₹926 per equity share.
80,12,820 equity shares were issued to qualified institutional buyers. As per reports, the QIP of Aether was oversubscribed ~2.25x.
Trilegal represented the BRLMs HDFC Bank Limited and SBI Capital Markets Limited in this transaction.
The transaction team consisted of Bhakta Patnaik (Partner and Head of Capital Markets), Brajendu Bhaskar (Partner), Arjun Rastogi (Senior Associate), Aditya Dsouza (Senior Associates), and Arsh Sinha, Jahanvi Jain and Anoushka PV (Associates).
JSA advised Aether Industries on this QIP.
The transaction team consisted of Arka Mookerjee (Lead Partner), Siddhartha Desai (Partner), Krupa Brahmbhatt (Principal Associate), Varshini Puni (Associate) and Govind Roy (Associate).
JSA had also advised Aether for their initial public offering of equity shares in May 2022.
Aether is one of the fastest-growing specialty chemical companies in India, growing at a CAGR of nearly 43.11% between Fiscal 2018 and Fiscal 2023. (Source: Frost & Sullivan Report)
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