Ami Organics lists at a premium of 49% on D-Street against IPO issue price

Post listing, the scrip opened at Rs902 and has touched a high and low of Rs929 and Rs841.20 respectively on the BSE.

Sep 14, 2021 10:09 IST India Infoline News Service

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Specialty chemicals company Ami Organics made a strong stock market debut on the Dalal Street on Tuesday after its initial public offering. The shares opened at Rs910, a 49% premium over its issue price of Rs610 per share on the NSE.

While, on the BSE, the stock opened at Rs902, 48% higher than its issue price.

Post listing, the scrip opened at Rs902 and has touched a high and low of Rs929 and Rs841.20 respectively on the BSE.

Ami Organics Ltd is currently trading at Rs888.60 up by Rs278.6 or 45.67% from its previous closing of Rs610 on the BSE.

The initial public offer (IPO) of Ami Organics received bids for 42.22 crore shares against 65.42 lakh shares on offer, according to stock exchange data. The issue was subscribed 64.54 times.

The non-institutional investors (NIIs) category was subscribed 154.81 times. The qualified institutional buyers (QIBs) category was subscribed 86.64 times. The retail individual investors (RIIs) category was subscribed 13.36 times.

The issue opened for bidding on Wednesday (1 September 2021) and will closed on Friday (3 September 2021).

The price band of the IPO was fixed at Rs603-610 per share.

Ami Organics is a research and development driven specialty chemicals manufacturer with varied end usage, focused on the development and manufacturing of advanced pharmaceutical intermediates for regulated and generic active pharmaceutical ingredients (APIs) and new chemical entities (NCE) and key starting material for agrochemical and fine chemicals, especially from its recent acquisition of the business of Gujarat Organics (GOL).

The company reported a consolidated net profit of Rs54cr and total income of Rs340.61cr in the twelve months ended 31 March 2021.

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