Aether Industries Limited has achieved complete utilization of the Rs 7,286.14 million raised through its Qualified Institutional Placement (QIP) conducted in June 2023. The final monitoring agency report for the quarter ended December 31, 2025, submitted by CRISIL Ratings Limited, confirms that all proceeds have been fully deployed according to the original placement document objectives.

QIP Proceeds Utilization Summary

The specialty chemicals company successfully allocated the entire QIP proceeds across four strategic objectives without any deviations from the original plan:

Manufacturing Facility Development Progress

The largest allocation of Rs 3,300.00 million was directed toward establishing Manufacturing Facility 5 at Plot No. 14+15, GIDC Industrial Estate, Panoli, Bharuch, Gujarat. During the quarter ended December 31, 2025, the company utilized the remaining Rs 483.59 million to complete this facility. The proceeds were deployed for factory building construction, utilities, structural work, pipe and fittings, electrical installations, and land acquisition.

The Manufacturing Facility 3 expansion project, allocated Rs 1,830.00 million, was completed in the quarter ended September 30, 2025. This expansion involved acquiring industrial land on a 99-year leasehold basis at Plot Nos. 8202/2/A and 8202/2/B, Road No. 8, GIDC Industrial Estate, Sachin, Surat.

Land Acquisition and Strategic Expansion

During the implementation period, the company's Board of Directors approved the acquisition of 26,873 square meters of land at Plot No. 184 & Plot No. 185, Vill. Nana Borsara, Tal. Mangrol, Dist. Surat, Gujarat. This new land, located near the existing Site-5, was acquired to install common utilities supporting the main plants. The total land acquisition cost of Rs 59.40 million was funded from the QIP proceeds.

Working Capital and Corporate Purposes

The working capital allocation of Rs 450.00 million was fully utilized by the quarter ended March 31, 2024, supporting the company's incremental business requirements arising from new manufacturing facilities. The general corporate purposes allocation of Rs 1,706.14 million was completely deployed by the quarter ended March 31, 2025.

Regulatory Compliance and Monitoring

CRISIL Ratings Limited, serving as the monitoring agency, confirmed that all utilization aligned with the placement document disclosures. The company obtained all necessary government and statutory approvals, including intimations to GIDC and GPCB, which were critical for project commencement. No deviations from the original objects were reported, and no material changes affecting investor decision-making were identified.

With the complete utilization of QIP proceeds, both the QIP Escrow account and monitoring account balances stand at nil as of December 31, 2025, marking the conclusion of the monitoring process for this fundraising initiative.

Aether Industries Limited has completed the allotment of 5,251 equity shares to eligible employees under its Employee Stock Option Scheme 2021 (AIL ESOS 2021). The company informed BSE Limited and National Stock Exchange of India Limited about this corporate action on February 10, 2026, in compliance with Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

Share Allotment Details

The Nomination and Remuneration Committee approved the allotment on February 10, 2026, with shares issued at two different exercise prices:

All shares carry a face value of Rs. 10 each and will rank pari-passu with existing equity shares of the company.

Updated Share Capital Structure

Following this allotment, the company's share capital structure has been updated:

Regulatory Approvals and Compliance

The company has obtained in-principle approval from both BSE Limited and National Stock Exchange of India Limited for a pool of 11,00,000 equity shares under the AIL ESOS 2021 scheme. The regulatory filings were completed on October 6, 2022, with approvals received from NSE on November 11, 2022, and from BSE on October 20, 2022.

Key regulatory details include:

• NSE Filing Number: NSE/LIST/32832
• BSE Filing Number: DCS/IPO/TL/ESOP-IP/2529/2022-23
• No lock-in period applies to the allotted shares
• No additional listing fees required as the company has already paid fees for issued share capital up to Rs. 200 crore for the current fiscal year

Next Steps

The company will communicate this corporate action to depositories for crediting equity shares to beneficiaries' accounts, followed by obtaining listing and trading approvals from stock exchanges. The newly allotted shares will be identical in all respects to existing equity shares and will commence trading without any restrictions.