Shares of specialty chemical firm Ami Organics extended gains for the second consecutive session after logging a stellar debut in previous trading session.
Ami Organics share hit upper circuit of 20% today, rising Rs 186.90 to Rs 1,121.45 against previous close of Rs 934.55 on BSE. The share ended 53.2 per cent higher over issue price of Rs 610 per share in the previous session.
On Tuesday, Ami Organics share made a strong market debut on NSE, listing at 49% premium to the issue price.
The share opened at Rs 910 per share on NSE against issue price of Rs 610. On BSE, the share made its debut at Rs 902. The share has gained 24.32% in two sessions compared to listing price on BSE. Price band of the IPO was fixed at Rs 603 to Rs 610 per share.
Extending gains for the second straight session, the share crossed Rs 1,000 mark today amid strong buying demand on BSE.
Total 3.74 lakh shares of the firm changed hands amounting to turnover of Rs 39.39 crore on BSE.
Market cap of the firm rose to Rs 4,086.23 crore in today's session.
Those who were allotted one lot comprising 24 shares would have earned cash profit of Rs 12,000.
Rs 14,640 invested during the IPO would have turned into Rs 26,914.8 today, at a price of Rs 1,121.45 per share.
Ami Organics collected Rs 171 crore from anchor investors a day ahead of the IPO. The IPO was held from September 1 to September 3.
Ami Organics IPO 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.
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.
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