Ami Organics IPO: Listing likely on September 14, know what signals are coming from gray market

Ami Organics IPO: The process of share allotment of Ami Organics has been completed. The eyes of the person investing in this IPO of Rs 569.64 crore are now fixed on its listing date. There is a possibility that the listing of this IPO may happen on 14 September 2021. However, the eyes of those who put money in this IPO are also on the gray market.

Market experts say that there is a section of IPO investors who believe that its listing premium can be gauged from the move of the IPO in the gray market.

This multibagger of the specialty chemical sector gave 300% return this year, what do you have?

Let us inform that the GMP (Grey Market Premium) of Ami Organics IPO is seen at Rs 155 today, which is Rs 5 more than yesterday’s Rs 150. Gray market watchers say that the GMP of this IPO seems to be hovering between Rs 175 to Rs 150, which means that the gray market estimates that the stock could be listed at a premium of around 25 per cent. .

Significantly, this IPO got a very good response from the investors and it was subscribed 64.54 times. Speaking on the IPO of Ami Organics, K Abhay Doshi said that if the market sentiment remains positive during this long weekend, then Ami Organics can be listed at a premium of about 25 percent, which will be a good listing.

Let us tell you that Ami Organics, which makes specialty chemicals, had fixed a price band of Rs 603-610 per share for its initial public offer (IPO). This IPO was open for subscription from 1-3 September. In this, new shares worth Rs 200 crore were issued and there was an off-for-sale of 60.6 lakh shares by the promoters and existing shareholders. The company has raised around Rs 570 crore at its upper price band.

The company will use the proceeds from the IPO to pay off debt and meet working capital requirements. In the last financial year, the revenue of Ami Organics increased to Rs 340.61 crore. Net profit increased from Rs 27.47 crore to Rs 53.99 crore.

Along with research and development of specialty chemicals, the company also does manufacturing related to it. It had recently acquired Gujarat Organics Limited. The company also exports pharma intermediates to some multinational pharma companies in fast growing markets like Europe, China, Japan, Israel US, UK.

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