Ami Organics, a specialty chemicals company, has fixed IPO price band at ₹603-610 per equity share. The IPO will be open for subscription between September 1 and 3.
Bids can be made for a minimum of 24 equity shares and in multiples of 24 equity shares thereafter.
Fresh issue
The IPO comprises of fresh issue aggregating up to ₹200 crore and an offer of sales of up to 6,059,600 equity shares with promoter shareholder Parul Chetankumar Vaghasia selling 7 lakh shares along with other initial investors.
Further, the company in consultation with the book running lead managers has undertaken a pre-IPO placement of shares worth ₹100 crore.
The size of the fresh issue has been reduced by ₹100 crore pursuant to the pre-IPO placement. The net proceeds of fresh issue will be used for repayment of ₹140 crore debt and working capital.
Ami Organics deals in different types of advanced pharmaceutical intermediates and active pharmaceutical ingredients (API) besides materials for agrochemical and fine chemicals. Ami Organics has three manufacturing facilities with an aggregate installed capacity of 6060 mtpa. The company has developed over 450 pharma intermediates across 17 key therapeutic areas.
It reported revenue growth of 41 per cent at ₹342 crore and net profit was up 96 per cent at ₹54 crore last fiscal. The company’s return on capital employed was at 25 per cent and return on net worth at 32 per cent.
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