Ami Organics IPO subscribed 3.90 times on second day of offer

PTIUpdated: Thursday, September 02, 2021, 09:27 PM IST
article-image
The Rs 570 crore Ami Organics IPO received bids for 2,55,07,200 shares against 65,42,342 shares on offer./ Representational image | Photo credit: pixabay.com

The initial public offer of specialty chemicals maker Ami Organics was subscribed 3.90 times on the second day of subscription on Thursday.

The Rs 569.63 crore IPO received bids for 2,55,07,200 shares against 65,42,342 shares on offer, as per data available with the BSE.

The category for Qualified Institutional Buyers (QIBs) was subscribed 1.43 times, non-institutional investors 1.51 times and Retail Individual Investors (RIIs) 6.32 times.

The initial public offer was fully subscribed within the first few hours on the opening day on Wednesday.

The company's initial public offer (IPO) has a fresh issue of up to Rs 200 crore and an offer for sale of up to 60,59,600 equity shares. Its price range is at Rs 603-610 per share.

Ami Organics had on Tuesday 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 specialty 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.

The equity shares of the company will be listed on BSE and NSE.

This is 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.

Intensive Fiscal Services, Ambit Private Limited and Axis Capital are the managers to the offer.

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Know your rights: Development initiatives and schemes for women entrepreneurs

Know your rights: Development initiatives and schemes for women entrepreneurs

Builders ask CM Eknath Shinde for stamp duty reduction to boost real estate sale

Builders ask CM Eknath Shinde for stamp duty reduction to boost real estate sale

Concessional custom duty on edible oil import extended till March 2023

Concessional custom duty on edible oil import extended till March 2023

Finance Ministry to organise special campaign to deepen financial inclusion across India

Finance Ministry to organise special campaign to deepen financial inclusion across India

The role of International Business degree in career growth

The role of International Business degree in career growth