Ami Organics, a specialty chemicals company, has set a firm IPO price range of 603-610 yen per share. The IPO will be open for subscription from September 1st to 3rd.
Bids can be submitted for at least 24 shares and then in multiples of 24 shares.
The IPO includes a new issue of up to 200 billion yen and an offer for sale of up to 6,059,600 shares, with promoter shareholder Parul Chetankumar Vaghasia, along with other first-time investors, selling 7 Lakh shares.
In addition, in consultation with the accounting lead managers, the company carried out a pre-IPO placement of shares valued at 100 billion.
The volume of the new issue was reduced by ₹ 100 crore in accordance with the pre-IPO placement. The net proceeds of the new issues will be used to repay ₹ 140 billion in debt and working capital.
Ami Organics trades in various types of advanced pharmaceutical intermediates and active pharmaceutical ingredients (API), as well as materials for agrochemicals and fine chemicals. Ami Organics has three production facilities with a total installed capacity of 6060 mtpa. The company has developed over 450 pharmaceutical intermediates in 17 key therapeutic areas.
The company posted sales growth of 41 percent to 342 billion in the last fiscal year and net income rose 96 percent to 54 billion. The company’s return on investment was 25 percent and the return on net assets was 32 percent.