Ami Organics IPO was subscribed 64.54 times on the final day of issueAmi Organics' Rs 569.64 crore initial public offering (IPO) was subscribed 64.54 times on the 3rd and last day of its problem, according to membership data on the stock exchanges.
The leading research study and development-driven makers' IPO opened for bidding on Wednesday, September 1, and closed today - September 3 - remaining open for investors for a duration of 3 days.
The business had repaired the price band at Rs 603 - Rs 610 per share for the issue.On Friday, non-institutional financiers or NII revealed overwhelming interest as the part scheduled for them was subscribed 154.81 times - the highest among the three groups of investors.
The part reserve for the certified institutional buyers or QIB was subscribed 86.64 times, while the portion reserved for the retail specific financiers was subscribed 13.36 times.Ami Organics Limited is a leading research and development-driven maker of specialty chemicals.
It produces various types of innovative pharmaceutical intermediates and active pharmaceutical active ingredients (API).
The company is among the leading producers of certain pharma intermediates such as Trazodone, Dolutegravir, Nintedanib, Entacapone, and Rivaroxaban.
It will utilise the pre-IPO and fresh issue continues to repay debts and to satisfy its working capital requirements.
Ami Organics Ltd (AOL), is focused towards production of innovative pharma intermediates (PI) for regulated/generic APIs and New Chemical Entities (NCE) and essential starting product for agrochemical and fine chemicals.We like AOL given its large product portfolio in PIs, diversity efforts into other specialized chemical area, strong customers' relation across locations and robust financials.
It is well placed to tap opportunity in the fast-growing specialized chemical market by leveraging its strong R&D and expanding product portfolio.The concern is reasonably valued at 41.2 x FY21 P/E on post concern basis (avg.
peer FY21 P/E of 45x), while it takes pleasure in higher growth.
We believe that the marketplace wishes to provide premium valuation to such niche stories.
Advise Subscribe for Listing Gains, domestic brokerage company Motilal Oswal stated in an IPO note.