INSUBCONTINENT EXCLUSIVE:
One lot of Ami Organics shares will cost Rs 14,640 in the IPO.Ami Organics IPO: Ami Organics, the Surat-based speciality chemical company,
will be selling its equity shares in a three-day share sale via initial public offering (IPO)
Ami Organics IPO will open on September 1 and close on September 3
Ami Organics is planning to raise Rs 569.64 crore from the IPO and has priced its shares in the band of Rs 603-610 per equity share
Retail investors can place their bids in lot size of 24 shares up to maximum of 13 lots.50 per cent of the share sale in the IPO is reserved
for the qualified institutional buyers, 35 per cent for retail investors and 15 per cent for non-institutional bidders.At the upper price
band one lot of Ami Organics shares will cost Rs 14,640 in the IPO and retail investors can bid for maximum shares worth Rs 1,90,320.Ami
Organics IPO consists of an offer for sale of Rs 369.64 crore and fresh issue of Rs 200 crore
The offer for sale consists of 60.6 lakh shares by its existing promoters and shareholders
"An OFS consist of upto 7 lakh shares by Parul Chetankumar Vaghasia, upto 1.5 lakhs shares by Girishkumar Limbabhai Chovatia, upto 3.05
million shares by Kiranben Girishbhai Chovatia, upto 1.74 lakh shares by Aruna Jayantkumar Pandya," Ami Organics said in the IPO
prospectus.The company will use the proceeds from the IPO for repayment/prepayment of certain financial facilities availed by the company,
funding working capital requirements of the company and for general corporate purposes.In the pre-IPO placement, Ami Organics has raised Rs
100 crore from Plutus Wealth Management, Malabar India Fund, IIFL Special Opportunities Fund and Malabar Value Fund.Ami Organics is one of
the leading research and development ("R-D") driven manufacturers of specialty chemicals with varied end usage, focussed towards the
development and manufacturing of advanced pharmaceutical intermediates ("Pharma Intermediates") for regulated and generic active
pharmaceutical ingredients.Ami Organics is one of the major manufacturers of Pharma Intermediates for certain key APIs, including
Dolutegravir, Trazodone, Entacapone, Nintedanib and Rivaroxaban.Currently Ami Organics has 8 process patent applications and 3 additional
pending process patent applications for which applications were made recently, in March 2021.Axis Capital, Intensive Fiscal, Ambit Pvt Ltd
are the book running lead managers to the issue and Link Intime is the registrar.
