Ami Organics shares were in very high demand during the three-day share sale via IPO.Ami Organics shares made a bumper stock market debut on Tuesday, the stock opened for trading at Rs 902 on the BSE compared with issue price Rs 610, marking am upside of 48 per cent from the initial public offering (IPO) price.

Ami Organics share price advanced as much as 52.3 per cent, from issue price, to hit intraday high of Rs 929.Ami Organics shares were in very high demand during the three-day share sale via IPO which ended on September 3.

The IPO was subscribed 64.54 times.

Ami Organics raised Rs 569.64 crore from the IPO and it had priced its shares in the band of Rs 603-610 per equity share.Ami Organics IPO consisted of an offer for sale (OFS) of Rs 369.64 crore and fresh issue of Rs 200 crore.Non-institutional investors showed very high interest in the Ami Organics IPO as the portion reserved for them was subscribed 155 times the highest among the three groups of investors.

The portion set aside for the qualified institutional buyers or QIB was subscribed 87 times, while the portion set aside for the retail individual investors was subscribed 13 times.Ami Organics is a manufacturer of specialty chemicals.

It manufactures different types of advanced pharmaceutical intermediates and active pharmaceutical ingredients (API).The company is one of the leading manufacturers of certain pharma intermediates such as Trazodone, Dolutegravir, Nintedanib, Entacapone, and Rivaroxaban.

It will utilise the pre-IPO and fresh issue proceeds to repay debts and to meet its working capital requirements.In another stock market listing, Vijaya Diagnostic Centre shares listed at a premium of 9 per cent from issue price at Rs 542.30.As of 10:10 am, Ami Organics shares traded 48 per cent higher, from the IPO price, at Rs 902.