Ami Organics IPO GMP, Ami Organics IPO Review, Ami Organics Share Price, Ami Organics IPO Price, Ami Organics IPO Subscr
Ami Organics IPO opens for subscription today
The IPO of the specialty chemicals manufacturer Ami Organics will open on September 1st and close on September 3rd. The company has set a price range of Rs. 603-610 per share for its initial share sale of Rs. 570 billion.
The IPO includes a re-issue of shares valued at Rs 200 billion and an offer to sell up to 60,59,600 shares by existing shareholders.
The company has reduced its new issuance from Rs 300 crore to Rs 200 crore after raising Rs 100 crore in a pre-IPO placement.
At the upper end of the range, the first stock sale is expected to raise Rs.569.63 billion.
In the gray market, the unlisted shares of Ami Organics have a premium of 122 rupees, which is 20 percent of the issue price. This means that Ami Oeganix’s shares are priced at 732 rupees apiece on the gray market.
The proceeds from the new issue will be used to repay certain debts and to fund working capital needs. Half of the issue volume is reserved for qualified institutional investors, 35 percent for private investors and 15 percent for non-institutional investors.
Ami Organics is one of the leading research and development-oriented manufacturers of specialty chemicals with various end-uses, focusing on the development and manufacture of pharmaceutical intermediates for regulated and generic APIs (Active Pharmaceutical Ingredients) and NCE (New Chemical Entity) as well as key raw materials for agrochemicals and Fine chemicals.
This is the company’s second attempt at going public. Previously, Ami Organics had submitted preliminary papers to Sebi in 2018 and received approval from the regulatory authority to start the public issue. However, the IPO was not carried out.
Ami Organics shares will be listed on the BSE and NSE on September 14th.
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