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Ami Organics to debut tomorrow

 


Ami Organics to debut tomorrow

Ami Organics IPO: Ami Organics shares will be listed on the National Stock Exchange and ESB on Tuesday, September 4. The three-day sale of Ami Organics shares via an Initial Public Offering (IPO) that ended on September 3 saw very strong demand for its shares among the investment community. The IPO was subscribed 64.54 times according to data from the National Stock Exchange. Ami Organics raised Rs 569.64 crore on the IPO and valued its shares in the range of Rs 603-610 per share. Retail investors were allowed to place their offers in lots of 24 shares up to a maximum of 13 lots.

Ami Organics’ IPO consisted of an offer to sell for Rs 369.64 crore and a new issue of Rs 200 crore. The offer to sell had 60.6 lakh shares by its existing promoters and shareholders.

Non-institutional investors showed great interest in the IPO of Ami Organics as the share reserved for them was 154.81 times the highest among the three investor groups. The portion reserved for qualified institutional buyers or QIB was subscribed 86.64 times, while the portion reserved for retail investors was subscribed 13.36 times.

Ami Organics is a research and development-driven specialty chemicals manufacturer. It manufactures different types of advanced pharmaceutical intermediates and active pharmaceutical ingredients (APIs).

The company is a leading manufacturer of certain pharmaceutical intermediates such as trazodone, dolutegravir, nintedanib, entacapone and rivaroxaban. It will use the pre-IPO product and new issues to repay its debts and to meet its working capital needs.

Sources

1/ https://Google.com/

2/ https://www.ndtv.com/business/ami-organics-ipo-listing-news-ami-organics-to-make-stock-market-debut-tomorrow-2539400

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