Ami Organics made a strong debut on the bourses. Its shares were listed at a premium of 48 per cent against the issue price of Rs 610 per share. On the BSE, the stock debuted at Rs 902, up 47.87 per cent. On the NSE, it opened at a premium of 49.18 per cent or Rs 910.
The Rs 569.63 crore IPO of the speciality chemicals maker had received bids for 42,22,36,296 shares against 65,42,342 shares on offer, as per data available with the NSE. Qualified Institutional Buyers (QIBs) category was subscribed 86.64 times, non institutional investors 154.81 times and Retail Individual Investors (RIIs) 13.36 times.
The initial public offer (IPO) had a fresh issue of up to Rs 200 crore and an offer for sale of up to 6,059,600 equity shares. Its price range was at Rs 603-610 per share. The company collected Rs 171 crore from anchor investors.
Proceeds from the fresh issue will be used towards repayment of certain debt and funding working capital requirements.
Ami Organics is one of the leading R&D driven manufacturers of speciality chemicals with varied end usage, focussed towards the development and manufacturing of pharma intermediates for regulated and generic APIs (active pharmaceutical ingredients) and NCE (new chemical entity) and key starting material for agrochemicals and fine chemicals.
This was the company’s second attempt to go public. Earlier, Ami Organics had filed preliminary papers with Sebi in 2018 and had received the regulator’s nod to launch the public issue. However, it did not float the IPO.
Latest Business News
Credit: Source link