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Aether Industries shares slip 6% after promoter trims stake under OFS

Aether Industries share price: Shares of Aether Industries plunged 6 per cent, logging an intraday low at ₹757.25 per share on BSE. The selling pressure on the counter came after promoter Purnima Desai started selling its equity holding under an offer for sale (OFS) of shares. At 11:48 AM, Aether Industries shares were trading 3.71 per cent lower at ₹776.35 per share on the BSE. In comparison, the BSE Sensex was down 0.76 per cent at 81,709.13. The market capitalisation of the company stood at ₹10,293.64 crore. The 52-week high of the stock was at ₹1,066.3 per share and the 52-week low stood at ₹737.2 per share. According to the exchange filing, the offer for sale is 6.77 per cent or 89,79,173 equity shares having a face value of ₹10 each. The offer will be open for non-retail investors on May 13, 2025, and for retail investors on May 14, 2025. The floor price of the offer is fixed at ₹700 per share. "The Seller proposes to sell 6.77% of the paid-up equity share capital of the Company (equivalent to 89,79,173 equity shares having a face value of ₹ 10 each) (Offer Shares) on May 13, 2025 (T day) (for non-Retail Investors only) and on May 14, 2025 (T+1 Day) (for Retail Investors and for non-Retail Investors who choose to carry forward their un-allotted bids) through a separate, designated window of the Stock Exchanges, (held in dematerialized form in one or more demat accounts with the relevant depository participant) in accordance with the OFS Guidelines (such offer for sale hereinafter referred to as the 'Offer')," the filing read. ALSO READ | About Aether Industries Aether Industries Limited, headquartered in Surat, Gujarat, specializes in advanced intermediates and specialty chemicals driven by complex, differentiated chemistry and strong technological capabilities. Its products serve diverse sectors including pharmaceuticals, agrochemicals, material science, coatings, high-performance photography, additives, and oil & gas. Founded in 2013, Aether began by focusing on team-building, infrastructure, and R&D to develop core competencies. Revenue operations started in FY 2018, marking the second phase of growth.