The valuations at which the funds have been raised, however, is unknown, said the source.
An email sent to the manufacturer of speciality chemicals and advanced intermediates went unanswered at the time of filing of the story.
Aether Industries recently raised over Rs 100 crore from White Oak Capital and IIFL in the pre-IPO round.
It filed its DRHP with Sebi on December 28, 2021, to raise Rs 757 crore via a fresh issuance and an offer for sale of 27,51,000 shares by promoter Purnima Ashwin Desai. The IPO size was expected to be around Rs 10,00 crore then.
Post the pre-IPO raise, the fund raise via fresh issuance has been reduced to Rs 627 crore, the source said.
Aether is led by Ashwin Desai, an ex-Anupam Rasayan founder along with his wife Purnima Desai and two sons Rohan Desai and Aman Desai. It caters to the pharmaceutical, agrochemical, material science, electronic chemical, high performance photography, and oil and gas industry segments and currently has an installed capacity of 6096 MT per annum.
As per the F&S Report, between FY19-21, Aether grew at a CAGR of 49.5 per cent, making it one of the fastest growing specialty chemical companies in India.
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