Ami Organics IPO shares set to list on Sept 14: Here's What GMP suggests

The Initial Public Offering (IPO) of Ami Organics will be listed on the India bourses - Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) - on Tuesday, September 14. The public issue opened on September 1 and closed on September 3. The share allotment was done on September 8.

It should be noted that the Ami Organics IPO received a robust response from investors and was subscribed around 64.54 times. The officer was most subscribed by NIIs (Non-Institutional Investors). They subscribed to it around 154.81 times. The shares allotted for QIBs (Qualified Institutional Buyers) clocked in at 86.64 times. Similarly, the shares allotted for RIIs (Retail Individual Investors) was subscribed around 13.36 times.

AMI Organics Share Price, Details

• Ami Organics share price: AMI Organics IPO has a price band of Rs 603-610.
• Rs 569.64 crore-IPO consists of around Rs 200 crore fresh issues and the OFS (Offer For Sale) up to Rs 369.64 crore
• The IPO was opened for subscription on September 1 and closed on September 3
• Share allotment took place on September 8
• Listing date of Ami Organics: The IPO is likely to list on NSE and BSE on Tuesday, September 14.

Ami Organics GMP: What grey market suggests

Earlier in the day, the GMP of Ami Organics stood at Rs 150 which suggests that the issue was performing well at a premium of Rs 753 to Rs 760 in the unlisted market. The grey market price suggests that IPO will list at a premium on NSE and BSE.

About Ami Organics

The company is one of the leading manufacturers of intermediates for active pharmaceutical ingredients. The firm said that it will utilise the raised money for repaying debt and expanding its business. "Recently Ami Organics has acquired two manufacturing facilities of Gujarat Organics Limited situated at Ankleshwar and Jaghadia to strengthen & enhance its speciality and fine chemical portfolio to enter Agrochemical, Cosmetics & Polymer Industry," the company informed on its website.

Before the IPO, the speciality chemicals manufacturer, which is promoted by Nareshkumar Ranjibhai Patel, Shital Nareshbhai Patel, Chetankumar Chhaganlal Vaghasia and Parul Chetankumar Vaghasia, had raised Rs 170.89 crore from anchor investors.