The initial public offering (IPO) of Amanta Healthcare saw strong investor interest on its third and final day of public bidding. The maiden public issue of the company closed with 82.52 times subscription on September 3.
The Rs 126-crore IPO received bids for nearly 58 crore shares, as against the offer size of 70 lakh shares, according to data on NSE. Non Institutional Investors (NII) took the lead in the subscription rally, booking their reserved portion a whopping 209 times. Retail investors booked the portion kept for them around 54 times. Qualified Institutional Buyers (QIB) subscribed their reserved portion nearly 36 times.
Key things to know about Amanta Healthcare IPO:
The pharmaceutical company specialising in manufacturing parenteral products launched its IPO to raise Rs 126 crore through an entirely fresh issue of 1 crore shares at a price band of Rs 120-126 per share. Investors could bid for a minimum of 119 shares, requiring an investment of Rs 14,994 at the upper price band, and in multiples thereafter.
The IPO was open for public bidding from September 1 to September 3. The allotments will likely be finalized by September 4, and the shares are scheduled to debut on BSE and NSE on September 8.
Amanta Healthcare IPO GMP:
Ahead of listing, the unlisted shares of the sterile liquid products-maker were trading with 6.75 percent grey market premium (GMP) over the IPO price at Rs 134.5 apiece, according to data on Investorgain. This is significantly lower than the 19.84 percent GMP quoted by the site a day before yesterday.
According to IPO Watch, the unlisted shares of the company were trading with 10.31 percent GMP over the IPO price.
Before the IPO opened for public bidding, Amanta Healthcare raised Rs 37.8 crore from six institutional investors via anchor book on August 29. The company, in its filing to exchanges, said it has finalised allocation of 30 lakh shares to anchor investors at Rs 126 per share. Out of the total allocation of 30 lakh shares, 7.93 lakh shares were allocated to Bandhan Mutual Fund which applied through its Small Cap Fund.
Amanta Healthcare, which seeks valuation of nearly Rs 500 crore, intends to spend Rs 70 crore of IPO proceeds for setting up new manufacturing line of SteriPort, and Rs 30.13 crore for new manufacturing line for small volume parenteral (SVP) at Hariyala, Gujarat. The remainder funds will be set aside for general corporate purposes.
Beeline Capital Advisors was the sole book running lead manager for the Amanta Healthcare IPO.
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