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The year 2022 was not good in terms of IPO. However, the IPOs of some companies definitely made profits for the investors on the day of listing. One such company was the specialty chemical company Aether Industries. Ather Industries has now entered into an important agreement with the Government of Gujarat.
what is settlement
Ather Industries has tied up with the Government of Gujarat to set up a manufacturing plant at Panoli, Gujarat. For this the company will invest around Rs 1,000 crore. The project is expected to provide employment to over 1,000 people. The company wants to start operating the plant from 2025.
Let us tell you that the company has recently bought 1,25,000 square feet of land in Panoli GIDC in Bharuch district. At present, the company has three manufacturing plants, a research and development center and a pilot plant at Hojiwala in Surat. At the same time, it has two manufacturing centers in Surat.
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The share price of Ather Industries is Rs 885.35. The share price rose up to 1.19% on Thursday as compared to a day earlier. Let us know that the IPO was launched on May 24-26, 2022. The price range of this IPO was ₹610-642 per share. At the same time, its listing crossed Rs 700 with a speed of 10 percent. The 52 week low of this stock is Rs 699.85. This price happened on 3 June 2022. At the same time, on 19 September 2022, the share price went up to the level of Rs 1050.