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Ami Organics IPO: Issue oversubscribed 3.90 times on Day 2; retail, QIB portion fully booked

Ami Organics IPO: The company is looking to mop up Rs 570 crore through its public issue, of which it raised Rs 171 crore through anchor book on August 31, at the upper price band of Rs 610 a share.

September 02, 2021 / 05:10 PM IST
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The public offer of Ami Organics, the specialty chemical company, witnessed a strong demand from investors as it was oversubscribed by 3.90 times on September 2, the second day of bidding.

The offer has received bids for 2.55 crore equity shares against the IPO size of 65.42 lakh equity shares, subscription data available on the exchanges showed.

The response from retail investors to the issue remained strong as they have put in bids 6.32 times their reserved portion. A part set aside for non-institutional investors was subscribed 1.51 times and that of qualified institutional buyers saw 1.43 times subscription.

Ami Organics is looking to mop up Rs 570 crore through its public issue, of which it raised Rs 171 crore through anchor book on August 31, at the upper price band of Rs 610 a share.

The offer comprises a fresh issue of Rs 200 crore and an offer for sale of Rs 370 crore by shareholders. The fresh issue proceeds will be used for repaying debts and meeting working capital requirements.


Incorporated in 2004, Ami Organics deals in different types of advanced pharmaceutical intermediates, active pharmaceutical ingredients (API) and materials for agrochemical and fine chemicals.

It has three manufacturing facilities in Gujarat, with an aggregate installed capacity of 6,060 million tonnes per annum.

Also read: Ami Organics IPO opens: Most analysts give thumbs up to public issue

"With company's plans to invest in the development of products used in the manufacture of APIs being used in formulations whose patents are expiring, increase in demand for the pharma intermediates for such APIs can be seen. Additionally, the recent acquisition of GOL's business will also be a growth driver of the company going forward. We recommend 'subscribe' on the issue," said Hem Securities.

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first published: Sep 2, 2021 12:32 pm
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