Ami Organics IPO Opens For Bidding Today. Should You Invest?

Ami Organics' Rs 569.64 crore IPO will consist of a fresh issue of Rs 200 crore and an offer for sale of up to Rs 369.64 crore by existing investors

Ami Organics' Rs 569.64 crore initial public offering (IPO) opens for subscription today i.e. September 1, 2021. The specialty chemical manufacturer's IPO will consist of a fresh issue of Rs 200 crore and an offer for sale of up to Rs 369.64 crore by existing investors. The company has fixed the price band at Rs 603-Rs 610 per share. The public issue will close on September 3 and the shares are likely to be listed on the bourses on September 14. Ahead of the IPO, Ami Organics allocated 28,01,485 shares to anchor investors at a price of Rs 610 a share, which is the upper end of the price band. The anchor investors included SBI Mutual Fund, Nippon Mutual Fund, Malabar India Fund, Kuber India Fund, UTI MF and others. The company will use the pre-IPO and fresh issue proceeds to repay debts and to meet its working capital requirements. Ami Organics is a manufacturer of specialty chemicals. It develops and manufactures advanced pharma intermediates for regulated and generic active pharmaceutical ingredients.