Amanta Healthcare shares settled 12.5 percent higher from the IPO price at Rs 141.75 per share on the NSE on its debut day. It hit the upper circuit limit of 5 percent during intraday day and closed at the same level from its open price.
The shares listed on the stock exchanges at a premium of over 7 percent over it's IPO price on September 9, following a strong subscription of 82.60 times in the primary market between September 1 and 3.
Shares of Amanta Healthcare were listed at Rs 135 per share on the NSE, a premium of 7.14 percent over its issue price. The company had set a price band of Rs 120-126 per share for its Rs 126-crore issue.
On the BSE, the shares were listed at Rs 134 apiece, a premium of 6.35 percent. The company's market capitalization post listing of shares stood at Rs 520.31 crore
Amanta Healthcare share listing on Tuesday was almost at par with the expectations in the grey market.
Amanta Healthcare share listing: Should you buy, sell or hold?
Narendra Solanki, Head Fundamental Research - Investment Services, Anand Rathi Shares and Stock Brokers, noted that "we expect the company to list at premium to its issue price, given the current Grey Market Premium. At the upper price band, the company is valued at FY25 P/E of 46.6x, with a post-issue market capitalization of Rs 4,892 million."
"They aim to deepen relationships with existing customers while building new ones by leveraging their formulation expertise and large-scale manufacturing capabilities. The company also plans to expand its portfolio into new products, complex dosages, and increased capacities to generate additional business. Investors may consider booking partial profits on listing and holding the rest for long-term post listing," he added.
The pharmaceutical company specializes in the development, manufacturing, and marketing of sterile liquid products and certain medical devices. The company produces Large Volume Parenterals (LVPs) and Small Volume Parenterals (SVPs) using advanced Aseptic Blow-Fill-Seal (ABFS) and Injection Stretch Blow Moulding (ISBM) technologies.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
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