Ami Organics IPO: Opens today; Key Details investors should know

The initial public offering (IPO) of the Surat-based speciality chemical company, Ami Organics will open for subscription today, i.e., Wednesday, September 1, 2021. The issue will remain open for bidding till Friday, September 3, 2021.

The price band for Vijaya Diagnostic Centre IPO has been fixed at Rs 603-610 per equity share. Retail investors can place their bids in a lot size of 24 shares up to a maximum of 13 lots. Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.

Ami Organics has plans to raise up to Rs 569.64 crore through the IPO that consists of an offer for sale of up to 6,059,600 equity shares worth Rs 369.64 crore by existing shareholders and a fresh issue of Rs 200 crore. The OFS consist of upto 7 lakh shares by Parul Chetankumar Vaghasia, upto 1.5 lakhs shares by Girishkumar Limbabhai Chovatia, upto 3.05 million shares by Kiranben Girishbhai Chovatia, upto 1.74 lakh shares by Aruna Jayantkumar Pandya.

The company has reduced its fresh issue size to Rs 200 crore from Rs 300 crore after raising Rs 100 crore in a pre-IPO placement.

Proceeds from the fresh issue will be used towards repayment of certain debt and funding working capital requirements. Axis Capital Limited Ambit Private Limited and Intensive Fiscal Services Private Limited are the lead managers to the public issue. Link Intime is the registrar to the issue.

This is the company's second attempt to go public. Earlier Ami Organics had filed preliminary papers with Sebi in 2018 and had received the regulator's nod to launch the public issue. However, it did not float the IPO.

The finalization of the basis of allotment is likely to take place on September 8, 2021, The IPO will be listed on both National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). It is likely to debut on bourses on September 14, 2021.

Besides, specilalty chemicals maker Ami Organics on Tuesday said it has collected Rs 171 crore from anchor investors ahead of its initial share sale that opens for subscription today. The company has decided to allot a total of 28,01,485 equity shares at Rs 610 apiece, garnering a total of Rs 170.89 crore from anchor investors. SBI Life Insurance Company, Kotak Mahindra Life Insurance Company, Aditya Birla Sun Life Insurance Company, Kuber India Fund, UTI Mutual Fund, Sundaram MF and SBI Mutual Fund are among the anchor investors.

Ami Organics is a manufacturer of specialty chemicals. It develops and manufactures advanced pharma intermediates (APIs), including Dolutegravir, Trazodone, Entacapone, Nintedanib and Rivaroxaban, for regulated and generic active pharmaceutical ingredients. Currently, Ami Organics has 8 process patent applications and 3 additional pending process patent applications for which applications were made recently, in March 2021.

Recently Ami Organics acquired two manufacturing facilities of Gujarat Organics Limited situated at Ankleshwar and Jaghadia to strengthen & enhance its speciality and fine chemical portfolio to enter the Agrochemical, Cosmetics & Polymer Industry. It has a strong market presence in more than 27 countries. Being an integrated supplier of Global Healthcare Products, Ami Organics Limited caters to both, domestic and international markets covering North & South America, Europe, and Asian Countries.