Ami Organics specialty chemical makers opened their first public offering (IPO) on Wednesday and completed a second trading day on Thursday. The IPO of Ami Organics, a specialized chemical company, is seeing a positive response as the public issue has been reported above 3.90 on September 2, the second day of bidding.
Today is the third and final day of registration for this issue. Registration data available on the exchange showed that up to the second day of public release we had received 2.55 crore equity bids compared to the IPO size of 65.42 lakh equity shares.
The share for non-institutional investors is 1.51 times higher. On the other hand, the proportion of eligible institutional buyers saw the enrollment increase 1.43 times. In terms of registration by retail investors, this has been proven by over-registration 6.6 times.
Chemical manufacturers working at Surat Ami Organics are looking at Rs 569.63 crore through the first public donation. Ami Organics’ public release itself contains a sale offer (OFS) for a budget of Rs 369.64 crore. Ami Organics has set a price band of Rs 603 to Rs 610 for its IPO. Just one day before the registration of Ami Organics ’IPO opened on September 1, the company raised Rs 171 million from bank investors. However, the company has made it clear that the proceeds will be used to pay off debts and meet operating expenses.
“We would like AOL to offer its broad product portfolio to PIs, blending efforts into a specialized chemical space, strong customer relationships across geographies and strong investments. product portfolio. This problem is rated at 41.2x FY21 P / E on a post-production basis (average. Peer FY21 P / E of 45x), while enjoying high growth. We believe the market would like to offer a premium rating on such issues, “he said. Motilal analyst Oswal.
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According to IPO Watch, Ami Organics shares are available in the gray market at a premium of ₹ 105 on September 3. The gray market premium increased from Rs 50 on August 27 to Rs 130 on September 1 and from 130 to at 150 on September 2 and finally reached Rs 105. Ami Organics was renovated in 2004. It is a well-known manufacturer of research and development driven by specialized chemicals. The company holds a wide range of Advanced Pharmaceutical Intermediates and Active Pharmaceutical ingredients (API) in its various product portfolio.
According to an analyst from ICICI Securities, “The high cost of RMAT, the inability to transfer impact: The company’s main raw materials include ethyl alcohol, dimethylformamide, isopropyl alcohol and toluene. Loss of customers to prevent performance – Challenges related to control over any plant damage performance – As the company operates on pharma API intermediates, it must follow strict procedures such as USFDA and REACH certification. Any irregularity can lead to a ban on manufacturing activities and thus affect the financial performance of the company. ”
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