Vijaya Diagnostics, Ami Organics IPO: Subscription status, GMP & key points before bidding

South-India based diagnostics chain Vijaya Diagnostic Centre's IPO was subscribed 47% on the second day of its Rs 1,895.04 crore issue. The Initial Public Offering opened on Wednesday and will close on Friday, September 3. The price band of Vijaya Diagnostics IPO has been fixed at Rs 522-531 per share.

Vijaya Diagnostics IPO Subscription Status and GMP

On Thursday, the portion set aside for retail investors was subscribed 74%. The portions reserved for qualified institutional buyers and non-institution investors was subscribed 0.32% and 0.05% respectively.

Vijaya Diagnostics GMP: In the grey market, the shares of the Vijaya Diagnostic Centre were trading at a premium of Rs 20, which means the shares were bullish at Rs 542 to Rs 551 on the unlisted market.

One of the fasting growing diagnostic chains in Southern India, Vijay Diagnostic Centre offers radiology and pathology services. It has 81 centres and 11 reference laboratories spread across 13 cities in Andhra Pradesh, Telangana, National Capital Region and Kolkata. 

As per the CRISIL report, the diagnostics market in India is currently valued at Rs 71,000 crore to Rs 73,000 crore which is projected to grow to Rs 92,000-98,000 crore by FY23.

Ami Organics IPO: Subscription Status and GMP

Ami Organics IPO on the other hand has performed well. The IPO was oversubscribed 3.80 times on day two. The bidding for Ami Organics IPO will also close on Friday. The price band is set at Rs 603-610 per equity share.

The portion reserved for retail bidders was oversubscribed 6.32 times. The portion set aside for qualified institutional buyers and non-institution bidders was 1.43 times and 1.51 times subscription respectively.

The speciality chemical manufacturer is looking to raise Rs 570 crore through its IPO, of which Rs 171 crore is already raised through anchor book Tuesday.

Ami Organics GMP: The shares of Ami Organics in the grey market were flying high at a premium of Rs 150. On August 27, the GMP was 50 which soared to Rs 130 on September 2.

The company said that it will utilise the generated money to repay debts and expand its business. The company manufactures intermediates for AIPs (Active Pharmaceutical Ingredients) such as Entacapone, Trazodone, Nintedanib, Dolutegravir and Rivaroxaban.

"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.