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Board of Directors

....led by our Promoters, being the Executive Directors of our Board. We are further enriched by our Board Members who are technically sound and have extensive experience in various fields like chemicals, pharmaceuticals, accountancy, finance, and project implementation, who add tremendous value and vision to our Company!

Company Promoters and Executive Directors on Board:

Ashwin Desai

Founding Promoter, Managing Director

Ashwin Desai is the founding Promoter and Managing Director of our Company. He holds a bachelor’s degree in Chemical Engineering from Institute of Chemical Technology (ICT, formerly University Department of Chemical Technology, UDCT, Mumbai, 1974). He has been awarded the Distinguished Alumnus award by Indian Chemical Technology in 2010. Ashwin Desai has multiple decades of experience in the speciality chemical industry. Prior to incorporation of our Company, he was the founding member of Anupam Rasayan India Limited and was the Chairman and Managing Director of Anupam Rasayan India Limited till 2013. At Aether, Ashvin Desai is responsible for creating the overall vision of the Company and is actively involved in all techno-commercial departments. He focuses on innovative chemical engineering solutions for our R&D, pilot plant, and production processes and is also responsible for leading our core competency in continuous reaction and flow technology.

Purnima Desai

Promoter, Whole Time Director

Purnima Desai is a Promoter and Whole Time Director of our Company. With multiple decades of experience in the speciality chemical industry, she leads the overall accounting and finance operations of our Company. She has a bachelor’s degree from the University of Delhi (1975). Purnima Desai was previously a Director at Anupam Rasayan India Limited until 2013.

Rohan Desai

Promoter, Whole Time Director

Rohan Desai is a Promoter and Whole Time Director of our Company. He has extensive experience in the speciality chemical industry and looks after the entire commercial portfolio (including sales, finance, strategic procurement, human resources and systems) of our Company. He has a bachelor’s degree from South Gujarat University of Commerce (SPB VNSG), Surat. Rohan Desai was previously a Director at Anupam Rasayan India Limited until 2013.

Dr. Aman Desai

Promoter, Whole Time Director

Dr. Aman Desai is a Promoter and Whole Time Director of our Company. He is responsible for our R&D, pilot plant, and production operations, new projects, and technical business development, and has over 10 years of experience in the speciality chemical industry. Dr. Aman Desai has a bachelor’s degree in Chemical Technology (Intermediates and Dyestuff Technology, 2005) from Institute of Chemical Technology (ICT formerly known as University Department of Chemical Technology, UDCT, Mumbai) and has a Doctor of Philosophy (PhD) degree in Organic Chemistry (with a focus on chiral chemistry) from Michigan State University (USA, 2010). His doctoral research was published in the Journal of the American Chemical Society and was also featured in Chemical & Engineering News in 2010. Dr. Aman Desai was then a Project Leader in the Process Development group in Core R&D Headquarters at the Dow Chemical Company in Michigan (USA). Dr. Aman Desai has been awarded the UAA Young Achiever Award in 2018 in the UAA-ICT Distinguished Alumnus Awards from his alma mater, Institute of Chemical Technology, Mumbai, India. He is the author/co-author of 25 publications in international technical journals. He has been granted 4 patents in USA, and these patents are published worldwide.

Non-Executive Directors on the Board:

Kamalvijay Tulsian

Chairperson and Non-Executive Director

Kamalvijay Tulsian is the Chairperson and Non-Executive Director of our Company. He holds a diploma in Electrical Engineering and a diploma in Mechanical Engineering, both from the Maharaja Sayajirao University of Baroda (MSU-B). He has multiple decades of experience in the textile and chemical industry.

Ishita Manjrekar

Non-Executive Director

Ishita Manjrekar is a Non-Executive Director of our Company. She holds a bachelor’s degree in Chemical Engineering from Institute of Chemical Technology (ICT, formerly known as University Department of Chemical Technology, UDCT, Mumbai) and a master’s degree in Chemical Engineering from Rensselaer Polytechnic Institute (RPI, USA). She is currently serving as director (Technology) in Sunanda Speciality Coatings Private Limited (Sunanda) and leads their Research and Development department and Business Development. Prior to working at Sunanda, Ishita Manjrekar worked as the Vertical Head (Clean Technology) for Primary Global Research, USA. She is a director on the Board of American Concrete Institute (ACI, USA) and was conferred the ACI Young Member Award for Professional Achievement in 2016.

Jeevan Lal Nagori

Non-Executive Independent Director

Jeevan Lal Nagori is a Non – Executive Independent Director of our Company. He has a bachelor’s degree from University of Udaipur, and he is a Fellow Member of the Institute of Chartered Accountants of India (ICAI). He has multiple decades of experience in chartered accountancy. He was previously associated with IPCA Laboratories Limited for 34 years, as the President of Projects.

Leja Hattiangadi

Non-Executive Independent Director

Leja Hattiangadi is a Non-Executive Independent Director our Company. She holds a bachelor’s degree in Chemical Engineering from Indian Institute of Technology (IIT, Bombay) and a Master’s degree in Chemical Engineering from Lowell Technological Institute (Massachusetts, USA). She has been elected as a Member of the American Institute of Chemical Engineers (AIChE). She has multiple decades of experience in the engineering contracting and chemical industry. She has previously worked at Tata Consulting Engineers Limited (a TATA Enterprise). She has also previously worked at Jacobs India for 9 years as Director (Business Development). During her tenure at Jacobs India, she was also a Whole Time Director of the Board. Leja Hattiangadi is presently an Adjunct Professor in the Department of Chemical Engineering, Indian Institute of Technology (IIT, Bombay). She is also currently serving as an Independent Director on the Board of M/s. Alkyl Amines Chemicals Limited and M/s. Artson Engineering Limited.

Dr. Amol Kulkarni

Non-Executive Independent Director

Dr. Amol Kulkarni is a Non-Executive Independent Director of our Company. He is currently a Senior Principal Scientist in the Chemical Engineering & Process Development Division at the National Chemical Laboratory (NCL, Pune). He holds a bachelor’s degree, a masters’ degree and a Doctor of Philosophy (PhD) degree in Chemical Engineering from the Institute of Chemical Technology, University of Mumbai (ICT, formerly known as University Department of Chemical Technology, UDCT, Mumbai). He was also a Post Doctorate at the Max Planck Inst. Magdeburg (Germany) and IUSSTF Research Fellow at Massachusetts Institute of Technology (MIT, USA). Dr. Amol Kulkarni has established the first of its kind microreactor laboratory in India. He is the recipient of numerous awards including the prestigious Shanti Swaroop Bhatnagar Award in Engineering Sciences (2020), VASVIK award for technology development (2016), Young Associate of Indian Academy of Sciences (2011), CSIR Young Scientist Award (2011), and Indian National Science Academy’s (INSA) Medal for Young Scientists (2009). He is the author/co-author of 138 publications in international technical journals and has been granted 17 patents in India, USA, and worldwide. Recently, he has been inducted as a Fellow of the Indian National Academy of Engineering (INAE).

Arun Kanodiya

Non-Executive Independent Director

Arun Kanodiya is a Non – Executive Independent Director of our Company. He has bachelor’s degree from the University of Delhi, and he is a Fellow Member of the Institute of Chartered Accountants of India (ICAI). He is a Partner of M/s. KSA & Co, Chartered Accountants (Surat). He has over 15 years of experience in chartered accountancy and finance.

Jitendra Vakharia

Non-Executive Independent Director

Jitendra Vakharia is a Non-Executive Independent Director of our Company. He holds a diploma in Textile Chemistry from the Maharaja Sayajirao University of Baroda (MSU-B). He has multiple decades of experience in the chemical and textile industry. He is currently serving as a partner at Narayan Processors and a Director at Pandesara Infrastructure Limited.

Rajkumar Borana

Non-Executive Independent Director

Rajkumar Borana is a Non-Executive Independent Director of our Company. He holds a bachelor’s degree from Veer Narmad South Gujarat University (Surat). He has extensive experience in the textile industry and is currently associated with R&B Denim Limited.

Committees of the Board:

Audit
Committee

Arun Kanodiya (Chairperson)
Jitendra Vakharia
Jeevan Lal Nagori

N&R
Committee

Kamalvijay Tulsian
Arun Kanodiya (Chairperson)
Dr. Amol Kulkarni

CSR
Committee

Purnima Desai (Chairperson)
Kamalvijay Tulsian
Jeevan Lal Nagori
Leja Hattiangadi
Jitendra Vakharia

Stakeholder Relationship Committee

Kamalvijay Tulsian (Chairperson)
Rohan Desai
Ishita Manjrekar
Arun Kanodiya
Leja Hattiangadi
Rajkumar Borana

Risk Management Committee

Dr. Aman Desai (Chairperson)
Ashwin Desai
Rohan Desai
Kamalvijay Tulsian
Arun Kanodiya

Announcement and Disclosure under Regulation 46 of the SEBI (LODR) Regulations, 2015

2024-2025
2023-2024
2022-2023

Financial Performance and Presentation


2023-2024
2022-2023
2021-2022
2020-2021
2019-2020
2018-2019

Subsidiary and Group Companies


2022-2023

2021-2022

2020-2021

Corporate Governance

Shareholding Pattern

2023-2024
2022-2023

General Meetings

2023-2024
2022-2023
2021-2022
2020-2021
2019-2020

Material Contracts and Documents

Investor Contact

Aether Industries Limited

Adress: Plot No. 8203, GIDC Sachin, Surat - 394230, Gujarat, India

CIN: L24100GJ2013PLC073434

Company Secretary and Compliance Officer:

Mr. Chitrarth Parghi

Tel. (Direct): +91-261-6603360
E-Mail: compliance@aether.co.in

Investor Relation:

Tel. (Direct): +91-261-6603045
E-Mail: investors@aether.co.in


Registrar:

Link Intime India Private Limited

SEBI Registration No.: INR00004058
C-101, 1st Floor, 247 Park,
Lal Bahadur Shashtri Marg,
Vikhroli (West), Mumbai - 400083,
Maharashtra, India

Contact Person: Ms. Shanti Gopalkrishnan

Tel: +91-22-49186200
Email: aether.ipo@linkintime.co.in
Website: www.linkintime.co.in

Qualified Institutions Placement

DISCLAIMER – IMPORTANT

PLEASE READ THIS NOTICE CAREFULLY. IT APPLIES TO ALL PERSONS WHO VIEW THIS WEBSITE. VIEWING THIS INFORMATION MAY NOT BE LAWFUL IN CERTAIN JURISDICTIONS. PLEASE NOTE THAT THE DISCLAIMER SET OUT BELOW MAY BE ALTERED OR UPDATED. YOU SHOULD READ IT IN FULL EACH TIME YOU VISIT THE WEBSITE.

ELECTRONIC VERSIONS OF THE PLACEMENT DOCUMENT YOU ARE SEEKING TO ACCESS ARE BEING MADE AVAILABLE ON THIS WEBSITE BY AETHER INDUSTRIES LIMITED IN GOOD FAITH AND FOR INFORMATION PURPOSES ONLY. ACCESS TO THIS WEBSITE SHALL NOT FORM THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH, ANY CONTRACT OR COMMITMENT WHATSOEVER. WE ARE NOT SOLICITING ANY ACTION OR DECISION BASED ON THE INFORMATION ON THIS WEBSITE.

NOTHING HEREIN CONSTITUTES AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO. YOU ARE REMINDED THAT YOU HAVE ACCESSED THE PLACEMENT DOCUMENT ON THE BASIS THAT YOU ARE A PERSON INTO WHOSE POSSESSION THE DOCUMENTS MAY BE LAWFULLY DELIVERED IN ACCORDANCE WITH THE LAWS OF THE JURISDICTION IN WHICH YOU ARE LOCATED.

THESE MATERIALS ARE BEING MADE AVAILABLE ON THIS WEBSITE BY AETHER INDUSTRIES LIMITED (THE “COMPANY”) IN CONNECTION WITH A QUALIFIED INSTITUTIONS PLACEMENT AND SOLELY TO COMPLY WITH THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2018, AS AMENDED (THE “SEBI ICDR REGULATIONS”).

THESE MATERIALS ARE NOT DIRECTED AT OR INTENDED TO BE ACCESSED BY PERSONS LOCATED IN THE UNITED STATES, THE UNITED KINGDOM (WITH CERTAIN EXCEPTIONS), AUSTRALIA, CANADA OR JAPAN. THESE MATERIALS ARE NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA). THESE MATERIALS ARE NOT AN OFFER OF SECURITIES FOR SALE OR A SOLICITATION FOR AN OFFER TO BUY SECURITIES IN THE UNITED STATES, CANADA OR JAPAN. THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD OR DELIVERED IN THE UNITED STATES, EXCEPT PURSUANT TO AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. ANY PUBLIC OFFERING OF SECURITIES TO BE MADE IN THE UNITED STATES WILL BE MADE BY MEANS OF A PROSPECTUS THAT MAY BE OBTAINED FROM THE ISSUER AND THAT WILL CONTAIN DETAILED INFORMATION ABOUT THE COMPANY AND ITS MANAGEMENT, AS WELL AS FINANCIAL STATEMENTS. AETHER INDUSTRIES LIMITED WILL NOT AND DOES NOT INTEND TO REGISTER ANY PRESENT OR PROPOSED OFFERING IN THE UNITED STATES.

THE FOLLOWING DISCLAIMER APPLIES TO THE PLACEMENT DOCUMENT IN RELATION TO THE PROPOSED QUALIFIED INSTITUTIONS PLACEMENT OF THE ISSUE OF EQUITY SHARES OF THE COMPANY FILED WITH THE BSE LIMITED AND THE NATIONAL STOCK EXCHANGE OF INDIA LIMITED. YOU ARE ADVISED TO READ THIS DISCLAIMER CAREFULLY BEFORE READING, ACCESSING OR MAKING ANY OTHER USE OF THE PLACEMENT DOCUMENT. THE PLACEMENT DOCUMENT IS AVAILABLE FOR YOU TO READ ON SCREEN AND TO PRINT IN PDF FORMAT.

YOU ARE REMINDED THAT DOCUMENTS TRANSMITTED IN ELECTRONIC FORM MAY BE ALTERED OR CHANGED DURING THE PROCESS OF TRANSMISSION AND CONSEQUENTLY NEITHER THE COMPANY, THE BOOK RUNNING LEAD MANAGERS NOR ANY OF THEIR RESPECTIVE AFFILIATES, DIRECTORS, OFFICERS AND EMPLOYEES ACCEPTS ANY LIABILITY OR RESPONSIBILITY WHATSOEVER IN RESPECT OF ALTERATIONS OR CHANGES WHICH MAY HAVE TAKEN PLACE DURING THE COURSE OF TRANSMISSION OF THE PLACEMENT DOCUMENT IN ELECTRONIC FORMAT. ANY OTHER INFORMATION CONTAINED IN, OR THAT CAN BE ACCESSED VIA OUR WEBSITE DOES NOT CONSTITUTE A PART OF THE PLACEMENT DOCUMENT.

YOU MAY NOT AND ARE NOT AUTHORIZED TO (1) DELIVER THE PLACEMENT DOCUMENT TO ANY OTHER PERSON OR (2) REPRODUCE SUCH PLACEMENT DOCUMENT IN ANY MANNER WHATSOEVER. ANY DISTRIBUTION OR REPRODUCTION OF THE PLACEMENT DOCUMENT IN WHOLE OR IN PART IS UNAUTHORIZED. FAILURE TO COMPLY WITH THIS DIRECTIVE MAY RESULT IN A VIOLATION OF THE SEBI ICDR REGULATIONS OR OTHER APPLICABLE LAWS OF INDIA AND OTHER JURISDICTIONS.

Please read this notice carefully – it applies to all persons who view this site. Please note that the disclaimer set out below may be altered or updated. You should read it in full each time you visit the site.

The placement and distribution of the placement document dated June 19, 2023 (the “Placement Document”) is being done in relation to the proposed qualified institutions placement of the equity shares of the Company, having placed reliance on Chapter VI of the SEBI ICDR Regulations.

The attached Placement Document and any other materials placed herein (the “Materials”) are so placed pursuant to the SEBI ICDR Regulations and are not intended to nor constitute an invitation to subscribe or a solicitation to offer to subscribe to the securities referred therein. The placement document shall be filed as a private placement offer letter with the stock exchanges. Unless a pre-numbered Placement Document accompanied by an application form is addressed to a specific person inviting such person to make a bid through such application form, no offer and/or invitation of offer shall be deemed to have been made.

Unless specified otherwise, the information in the Placement Document is as of the date thereof and neither the Company, its directors nor HDFC Bank Limited and SBI Capital Markets Limited (together, the “Book Running Lead Managers”) are under any obligation to update or revise the Placement Document to reflect circumstances arising after the date thereof.

The Placement Document is personal to each prospective investor and does not constitute an offer or invitation or solicitation of an offer to the public or any other person or class of investors within or outside India other than eligible qualified institutional buyers, as defined in the SEBI ICDR Regulations. The Placement Document has not been and will not be registered as a prospectus or a statement in lieu of prospectus with any Registrar of Companies in India, will not be circulated or distributed to the public in India or any other jurisdiction, and will not constitute a public offer in India or any other jurisdiction. The Placement Document should not be construed as an offer document under the SEBI ICDR Regulations or any other applicable law.

The Placement Document has not been and will not be reviewed or approved by any statutory or regulatory authority in India, including the Securities and Exchange Board of India, the Reserve Bank of India, any Registrar of Companies in India or any stock exchange in India.

The placement and distribution of this Placement Document is being done in reliance on Chapter VI of the SEBI ICDR Regulations, as amended on a private placement basis, and is meant only for QIBs that are (i) eligible to participate in the Issue, and which (ii) are not excluded pursuant to regulation 179(2)(b) of the SEBI ICDR Regulations, (iii) are not restricted from participating in the Issue under applicable law and (iv) to the extent applicable, have a valid and existing registration under the applicable laws and regulations of India. Please note only QIBs as defined in regulation 2(1)(ss) of the SEBI ICDR Regulations, and not otherwise restricted from participating in the Issue under the applicable laws, including the SEBI ICDR Regulations and are residents of India or are eligible FPI participating through Schedule II of the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 (“FEMA Rules”) are eligible to invest in the Issue, provided that with respect to FPIs, only eligible FPIs applying under Schedule II of the FEMA Rules will be considered as eligible QIBs and are eligible to invest in this Issue. AIFs or VCFs whose sponsor and manager are not Indian owned and controlled in terms of the FEMA Rules or FVCIs, multilateral or bilateral development financial institutions are not permitted to participate in this Issue.

You are accessing this website at your own risk and it is your responsibility to take precautions to ensure that it is free from viruses. Neither the Company, the Book Running Lead Managers nor any of their respective affiliates, directors, officers and/or employees will be liable or have any responsibility of any kind for any loss or damage that you may incur in the event of any failure or disruption of this website, or resulting from the act or omission of any other party involved in making this website or the data contained therein available to you, or from any other cause relating to your access to, inability to access, or use of the website or these Materials. Access to this website does not constitute a recommendation by the Company, the Book Running Lead Managers or any of their respective affiliates, or any other party to subscribe to or buy or sell the securities of the Company.

The information available on the Company’s website does not form part of the Placement Document.

Overseas Persons

Viewing this information may not be lawful in certain jurisdictions. In other jurisdictions only certain categories of person may be allowed to view this information. Any person who wishes to view this site must first satisfy themselves that they are not subject to any local requirements which prohibit or restrict them from doing so.

In particular, unless otherwise determined by Aether Industries Limited and permitted by applicable law and regulation, it is not intended that any offering of securities by Aether Industries Limited would be made, or any documentation be sent, directly or indirectly, in or into, the United States, the United Kingdom, Australia, Canada or Japan.

Any securities issued by Aether Industries Limited in connection with an offering or exchange offer will not be registered under the Securities Act. Any such securities will not be registered under or offered in compliance with applicable securities laws of any state, province, territory, county or jurisdiction of the United States, the United Kingdom, Australia, Canada or Japan. Accordingly, unless an exemption under the relevant securities law is applicable, any such securities may not be offered, sold, resold, delivered or distributed, directly or indirectly, in or into the United States, the United Kingdom, Australia, Canada or Japan or any other jurisdiction if to do so would constitute a violation of the relevant laws of, or require registration thereof in, such jurisdiction. No offer is being made to the public in any jurisdiction.

In addition, within the United Kingdom these Materials are only directed at persons who have professional experience in matters relating to investments falling within Article 19(5) of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or who fall within Article 43 of the Order or are other persons to whom Aether Industries Limited may otherwise lawfully communicate an invitation or inducement to engage in investment activity in accordance with the Order.

If you are not permitted to view Materials on this website or are in any doubt as to whether you are permitted to view these Materials, please exit this webpage.

Basis of access

Access to electronic versions of these Materials is being made available on this website by Aether Industries Limited pursuant to the requirements under Regulation 175(4) of the SEBI ICDR Regulations, in good faith and for information purposes only. Any person seeking access to this portion of the Company’s website represents and warrants to Aether Industries Limited that they are doing so for information purposes only. Making press announcements and other documents available in electronic format does not constitute an offer to sell or the solicitation of an offer to buy securities in Company. Further, it does not constitute a recommendation by the Book Running Lead Managers, nor any other party to sell or buy securities in Company.

Confirmation of understanding and acceptance of disclaimer

Electronic versions of these Materials are not directed at or accessible by persons located in the United States, the United Kingdom (with certain exceptions), Australia, Canada or Japan.

By clicking on the “I Confirm” button, I certify that (i) I am: (a) not located in the United States (within the meaning of Regulation S under the Securities Act); and (b) not accessing this website from within the United States; (ii) either (A) I have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (B) I am a person falling within Article 43 of the Order or (C) if in any member state of the European Economic Area outside the United Kingdom, I am a Qualified Investor within the meaning of the Prospectus Directive; or (D) I am a person to whom Aether Industries Limited may otherwise lawfully communicate an invitation or inducement to engage in investment activity in accordance with the Order; and (iii) I am not located in Australia, Canada or Japan; and (iv) I am a qualified institutional buyer as defined under Regulation 2(1)(ss) of the SEBI ICDR Regulations. If you cannot make this confirmation, you must press the button marked “I Do Not Confirm”.

In case I am a financial intermediary as that term is used in Article 3(2) of the Prospectus Directive, I represent, acknowledge and agree that the securities acquired by me in the offer have not been acquired on a non-discretionary basis on behalf of, nor have they been acquired with a view to their offer or resale to, any person in circumstances which may give rise to an offer of any securities to the public other than their offer or resale in a relevant member state to Qualified Investors as so defined in the Prospectus Directive or in circumstances in which the prior consent of the Book Running Lead Managers is required. I have read and understood the disclaimer set out above. I understand that it may affect my rights. I agree to be bound by its terms. By clicking on the button below, I confirm that I am permitted to proceed to electronic versions of these Materials.