Ami Organics Listing: Today on Tuesday, shares of specialty chemical company Ami Organics and Vijaya Diagnostic were listed in the market. There was a great listing of Ami Organics in this. There was a cold listing of Vijaya’s shares. The shares of Ami Organics company have managed to get listed on 14th September at a premium of 48% over their issue price.
The issue price of Ami Organics was Rs 610. Its shares have been listed on BSE, up 47.87% at Rs 902. While its listing on NSE is up 49.18% at Rs 910. Even after listing, its shares continue to rise.
The price band was in the range of Rs 603-610 per share.
Specialty chemicals maker Ami Organics had fixed a price band of Rs 603-610 per share for its initial public offering (IPO). This IPO was open for subscription from 1-3 September. In this, new shares worth Rs 200 crore were issued and there was an off for sale of 60.6 lakh shares by the promoters and the existing shareholders. The company has raised around Rs 570 crore on its upper price band.
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The company will use the funds from the IPO to pay off debt and meet working capital requirements. In the last financial year, the revenue of Ami Organics increased to Rs 340.61 crore. Net profit increased from Rs 27.47 crore to Rs 53.99 crore.
Along with the research and development of specialty chemicals, the company also does manufacturing related to it. It had recently acquired Gujarat Organics Limited. The company also exports pharma intermediates to some multinational pharma companies in fast growing markets like Europe, China, Japan, Israel, US, UK.
Sansera Engineering IPO
The IPO of this auto component maker is opening today i.e. on September 14. The issue will close on 16 September. The company’s issue price band is Rs 734-744. Sansera Engineering is bringing an IPO of Rs 1,282.98 crore. This issue is 100% offer for sale. The promoters and existing investors of the company are selling some of their stake.
Sansera Engineering has total 16 plants. Of these, 15 are in India and one in Sweden. The company manufactures complex and critical precision engineering components in the automotive and non-automotive sectors. In the automotive segment, the company manufactures things like connecting rods, rocker arms for 2W, PV and CV verticals. Most of the company’s revenue comes from making components related to the internal combustion engine of the car.
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