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Ami Organics makes strong market debut, share lists at 49% premium to IPO price

Ami Organics makes strong market debut, share lists at 49% premium to IPO price

Ami Organics stock listed at Rs 910 per share on the NSE against the IPO issue price of Rs 610

Price band of the IPO was fixed at Rs 603 to Rs 610 per share. Price band of the IPO was fixed at Rs 603 to Rs 610 per share.

Share of Ami Organics made a strong market debut today, listing at 49% premium to the issue price. Ami Organics stock listed at Rs 910 per share on the NSE against the IPO issue price of Rs 610. Price band of the IPO was fixed at Rs 603 to Rs 610 per share.

Total 82.88 lakh shares of the firm changed hands amounting to turnover of Rs 776.10 crore on NSE. Market cap of the firm rose to Rs 3,414 crore. Later, the share hit an intra day high of Rs 948.90 on NSE. The IPO was held from September 1 to September 3.

On BSE, the share opened at Rs 902. Total 16.85 lakh shares of the firm changed hands amounting to turnover of Rs 15,948 crore on BSE. Market cap of the firm rose to Rs 3,440 crore.

Ahead of its IPO, Ami Organics collected  Rs 171 crore from anchor investors. The initial public offer (IPO) of specialty chemicals maker Ami Organics was subscribed 64.54 times on strong response from non-institutional investors and qualified institutional buyers (QIBs) category.

The public issue was subscribed 13.36 times in the retail category, 86.64 times in the QIB category, and 154.81 times in the non-institutional  investors category.

A retail investor could apply for a minimum of 24 shares comprising a single lot by spending Rs 14,640. A retail investor could apply for up to 13 lots (312 shares by spending Rs 190,320).

Ami Organics is one of the leading R&D driven manufacturers of specialty chemicals with varied end usage, focused towards the development and manufacturing of pharma intermediates for regulated and generic APIs (active pharmaceutical ingredients) and NCE (new chemical entity) and key starting material for agrochemicals and fine chemicals.