The initial public offering (IPO) of Ami Organics, a manufacturer of specialty chemicals, will begin accepting subscriptions on Wednesday, September 1. The price range for this has been set at Rs 603-610 per share.
Amy organic is a leading R&D-driven manufacturer of specialty chemicals with a wide range of end uses, focusing on the development and manufacturing of advanced pharmaceutical intermediates for regulated and generic active pharmaceutical ingredients, as well as key starting materials for agrochemical and fine chemicals.
Sachin, Ankleshwar, and Jhagadia are the company's three manufacturing sites in Gujarat, with a total installed capacity of 6,060 MTPA. Ami Organics, based in Surat, plans to generate Rs 570 crore through its initial public offering. The transaction consists of a fresh equity share issuance worth Rs 200 crore and an offer for sale (OFS) of up to 6,059,600 equity shares by promoters and current shareholders.
Parul Chetankumar Vaghasia, Girishkumar Limbabhai Chovatia, Kiranben Girishbhai Chovatia, Aruna Jayantkumar Pandya, and Atulkumar Shah are among the company's promoters and existing stockholders who are participating in OFS.
Investors can place bids for a minimum of 28 equity shares and then in multiples of 28 shares after that. Subscriptions for this issue close on Friday, September 3rd.
The net proceeds from the new offering will be used to pay down certain obligations, provide working capital, and for general business reasons.
The price-to-earning ratio based on diluted EPS for FY2021 at the higher end of the price band is 35.59, according to the firm.
Ami Organics IPO Tentative Timetable
|Issue Type||Book Built Issue IPO|
|Face Value||₹10 per equity share|
|IPO Price||₹603 to ₹610 per equity share|
|Market Lot||24 Shares|
|Min Order Quantity||24 Shares|
|Issue Size||Aggregating up to ₹569.64 Cr|
|Fresh Issue||Aggregating up to ₹200.00 Cr|
|Basis of Allotment Date||Sep 8, 2021|
|Initiation of Refunds||Sep 9, 2021|
|Credit of Shares to Demat Account||Sep 13, 2021|
|IPO Listing Date||Sep 14, 2021|