Ami Organics to debut at the Indian Bourses today

Ami Organics IPO Listing: The shares of the Ami Organics will debut at the Indian bourses today, i.e., on September 14, 2021. The Rs 569.64 crore Initial Public Offering (IPO) of the Surat-based specialty chemical company consisted 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.

Ahead of the stock market debut, the unlisted share of Ami Organics was trading at Rs 150 in the grey market, according to IPO Watch.

The company will use the proceeds of the fresh issue in repayment of certain debt and funding working capital requirements.

The IPO, which was open for subscription from September 1 to 3, 2021, was subscribed 64.54 times. The Qualified Institutional Buyers (QIBs) portion was subscribed 86.64 times, while HNI and retail portions were subscribed 154.81 times and 13.36 times, respectively. The shares were sold in the price band of Rs 603-610 a share. The share allotment of the IPO was made on September 8, 2021.

Axis Capital Limited Ambit Private Limited and Intensive Fiscal Services Private Limited are the lead managers to the public issue, whereas Link Intime is the registrar to the issue.

Ami Organics is a manufacturer of specialty chemicals and 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.

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.