Aether Industries IPO Basis of Allotment

Aether Industries Limited ("Company") was incorporated on January 23, 2013, at Surat, Gujarat, India as a public limited company under the Companies Act, 1956 and receded the certificate for commencement of business from registrar of companies, Gujarat at Ahmedabad ("RoC") on March 18, 2013. For details of the change in the registered office of our Company, please see the section entitled 'History and Certain Corporate Matters' on page 189 of the Prospectus dated May 27, 2022 (‘Prospectus')

Our Company has filed the Prospectus with SEBI and the National Stock Exchange of India Limited (‘NSE') and BSE Limited;('BSE 'and together with NSE, the 'Stock Exchanges'), and the Equity Shares are proposed to be listed on the Stock Exchanges and trading to commence on June 3, 2022.

INITIAL PUBLIC OFFER OF 12,586,355 EQUITY SHARES OF FACE VALUE OF Rs 10 EACH ("EQUITY SHARES") OF AETHER INDUSTRIES LIMITED ("COMPANY" OR "ISSUER") FOR CASH AT A PRICE OF Rs 642 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs 632 PER EQUITY SHARE) ("OFFER PRICE") AGGREGATING TO Rs 8,080.44 MILLION ("OFFER") COMPRISING A FRESH ISSUE OF 9,766,355 EQUITY SHARES AGGREGATING TO Rs 6,270.00 MILLION' BY OUR COMPANY (THE "FRESH ISSUE") AND AN OFFER FOR SALE OF 2,820,000 EQUITY SHARES BY PURNIMA ASHWIN DESAI (THE "PROMOTER SELLING SHAREHOLDER") AGGREGATING TO Rs 1,810.44 MILLION ("OFFER FOR SALE" AND SUCH EQUITY SHARES, THE "OFFERED SHARES"). THE OFFER INCLUDES A RESERVATION OF 111,370 EQUITY SHARES, AGGREGATING TO Rs 71.50 MILLION, FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (AS DEFINED HEREIN) (THE "EMPLOYEE RESERVATION PORTION"). THE EMPLOYEE RESERVATION PORTION SHALL NOT EXCEED 0.09% OF THE POST OFFER PAID-UP EQUITY SHARE CAPITAL THE OFFER LESS THE EMPLOYEE RESERVATION PORTION IS HEREINAFTER REFERRED TO AS THE "NET OFFER". THE OFFER AND THE NET OFFER SHALL CONSTITUTE 10.11% AND 10.02%, RESPECTIVELY, OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITALOF OUR COMPANY.

*OUR COMPANY, IN CONSULTATION WITH THE BRLMs, HAS UNDERTAKEN A PRIVATE PLACEMENT OF 2,024,921 EQUITY SHARES AGGREGATING TO Rs 1,300.00 MILLION ("PRE-IPO PLACEMENT"). THE SIZE OF THE FRESH ISSUE OF EQUITY SHARES HAS BEEN ADJUSTED PURSUANT TO THE PRE-IPO PLACEMENT.

^Issue which were not jointly handle by the BRLMs

The Offer has been made in terms of Rote 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR"). read with Regulation 31 of the SEBI ICDR Regulations The Offer has been made in accordance with Regulation 6(1) of the SEBI ICDR Regulations, through the Book Building Process wherein not more than 50% of the Net Offer was available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") ('QIB Portion"), provided that our Company and the Promoter Selling Shareholder in consultation with the BRLMs has allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations ("Anchor Investor Portion"). Out of which one-third was reserved for domestic Mutual Funds only, subject to valid Bids having been received from domestic Mutual Funds at or above the Anchor Investor Offer Price, in accordance with the SEBI ICDR Regulations. Further, 5% of the Net QIB Portion was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion was available for allocation on a proportionate basis to al QIB Bidders, including Mutual Funds, subject to valid Bids having been received at or above the Offer Price However, if the aggregate demand from Mutual Funds was less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion shall be added to the remaining Net QIB Portion for proportionate allocation to QIBs. Further no less than 15% of the Net Offer was available for association to Non-institutional Bidders out of which (a) one third of such portion was reserved for Non-Institutional Bidders with application size exceeding Rs. 0.20 million and up to Rs1.00 million; and (b) two third of such portion was reserved for Non-institutional Bidders with Bid size of more than Rs. 1.00 million, provided that the unsubscribe portion in either of such sub- categories was allocated to Non-Institutional Bidders in the other sub-category of Non-Institutional Bidders and not less than 35% of the Net Offer was made available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids having been receded at or above the Offer Price. Further Equity Shares have been allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion subject to valid Bids having been from them at or above the Offer Price. All potential investors, other than Anchor Investors, were required to mandatory utilize the Application Supported by Blocked Amount ("ASBA") process providing details of their respective bank accounts (including UPI ID (defined herein) in case of UPI Bidders (defined herein) in which the Bid Amount was blocked by the Self Certified Syndicate Banks ("SCSBs") for the Sponsor Banks through the UPI Mechanism, as applicable. Anchor Investors were not permitted to participate in the Anchor Investor Portion through the ASBA process. For details, please see the section entitled "Offer Procedure" on page 349 of the Prospectus.

The Offer (excluding Anchor Investor Portion) received 192,563 applications for 58,782,917 Equity shares resulting in 6.65 times subscription. After removal of bids not banked, returns and before technical rejections, the Offer received 84,801 applications for 5,95,20,826 Equity Shares resulting in 4.7290 times subscription. The details of the applications reserved in the Offer from Retail individual Bidders, Non-Institutional Bidders, QIBs (excluding Anchor Investors) and Eligible Employees are as under (after removal of bids not banked returns and before technical rejections):

Final Demand

A summery of the final demand as per BSE and NSE as on the Bid-offer closing date at different Bid price is us under:

The Basis of Allotment was finalized in consultation with the Designated Stow Exchange, being BSE, on May 31, 2022

Includes 420 Equity Stores spilled over from Employee Category:

Includes 60 Equity Shares spitted 0ver from Employee Category and 136.218 Equity Shares spilled over from Retail Category

Includes 120 Equity Shares spitted over from Employee Category, 272,437 Equity Shares spilled over from Retail Category and 202,875 Equity Shares spitted over from Nil 1 Category.

The Board of Directors of the Company at its meeting held on May 31, 2022, has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful applicants The Allotment Advice Cum Refund Intimation has been dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been issued for unblocking of funds and transfer to the Public Offer Account on June 1, 2022, and the payments to non-syndicate brokers has been issued on June 1, 2022. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below The Equity Shares allotted to the successful allot allotments have been uploaded on June 2, 2022 for credit into the respective beneficiary accounts, subject to va^lidation of the account details with the depositories concerned. The Company has filed Listing application with BSE and NSE on June 1, 2022. The Company has received the listing and trading approval from the Stock Exchanges, and trading to commence on June 3, 2022.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

INVESTORS PLEASE NOTE

These details of the Allotment made shall be hosted on the website of Registrar to the Offer, Link Intime India Private Limited at www.linkintime.co.in.

All future correspondence m this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/ Sole applicant, Serial number of the ASBA form, number of Equity Shares bid for, name of the Member of the Syndicate, place where the bid was submitted and payment details a: the address given below:

LINK INTIME INDIA PRIVATE LIMITED

C101, 1st Floor, 247 Park, L.B.S Marg, Vikhroli(West), Mumbai 400083Maharashtra, India Telephone; +91 22 49186200 : E-mail:aether.ipo@linkinbmecoin;

Website: www.linkintmie.co.in; Investor grievance e-mail: aether.ipo@linkintime.co.in; Contact person: Shanti Gopalkrtshnan; SEBI registration number : INR000004058

CORRIGENDUM: NOTICE TO INVESTORS

This is with reference to the prospectus Dated May 27, 2022 (‘Prospectus') Attention of investors is drawn to the following

In the section titled "Capital Structure" on page 75 of the Prospectus, the details of the Equity Shares under the heading titled "D Issued. Subscribed and Paid-Up Capital After the Offer" should be read as "124,482,673" Equity Shares (assuming full subscription in the Offer)* instead of "124,483,673* Equity Shares (assuming full subscription in the Offer)"

* Subject to finalization of the Basis of Allotment

The Prospectus shall be read in conjunction with this Corrigendum. The information in this Corrigendum supersedes the information in the Prospectus to the extent inconsistent with the information In the Prospectus.

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF AETHER INDUSTRIES LIMITED.

AETHER INDUSTRIES LIMITED has filed the Prospectus with the RoC and thereafter with Securities and Exchange Board of India ("SEBI") and the Stock Exchanges. The Prospectus is available on the website of the SEBI at www.sebi.gov.in as wet: as on the websites of the BRLMs, HDFC Bank Limited at www.hdfcbank.com and Kotak Mahindra Capital Company Limited at http://investmentbank.kolak.com, respectively, the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of the BSE Limited at www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks see 'Risk Factors' or, page 25 of the Prospectus. Potential investors should not rely on the draft red herring prospectus dated December 28, 2021 for any investment decision.

This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the US Securities Act of 1933. as amended, or an exemption from such registration. 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 or the selling security holder and that will contain detailed information about the company and management, as well as financial statements. No offering or sale of securities in the Unfed States is contemplated.