The IPO of specialty chemical maker Ami Organics is opening on September 1. For which the company has fixed the price band. The company has fixed the issue price band at Rs 603-610 per share. In terms of the upper price band, the company plans to raise Rs 570 crore through its IPO. This IPO will close on 3rd September.
The company will issue new shares worth Rs 200 crore in the issue. Apart from this, promoters and existing shareholders will sell 60.6 lakh shares through off-for-sale (OFS). There is a plan to raise Rs 570 crore through IPO. The company is looking at pre-IPO placements up to Rs 100 crore.
The share price for the IPO of Ami Organics has been fixed at Rs 603-610. At the same time, one lot will be of 24 shares. To invest in IPO it is necessary to buy 1 lot. According to the upper price band, a minimum investment of Rs 14,640 will have to be made in this issue.
The company will use the funds raised through its IPO to repay the debt of Rs 140 crore. At the same time, the fund will be used to meet the working capital requirements and also for general corporate needs.
The book running lead managers to the issue are Intensive Fiscal Services Pvt Ltd, Ambit Pvt Ltd and Axis Capital Ltd. Whereas the registrar is Link Intime Private Limited.
Along with research and development of specialty chemicals, the company also does manufacturing related to it. The company also exports pharma intermediates to multinational pharma companies in markets like Europe, China, Japan, Israel, the USA, UK. In the last financial year, the revenue of Ami Organics had increased to Rs 340.61 crore. Net profit increased from Rs 27.47 crore to Rs 53.99 crore.
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