Ami Organics IPO To Open Tomorrow

The first day of September is coming up with a piece of good news for investors, two IPOs — Ami Organics initial public offering (IPO), Vijaya Diagnostics IPO are going to be open for the subscription from tomorrow till September 3.

Ami Organics is well-known for developing a wide array of pharma medicine across 17 key therapeutic areas i.e. anti-retroviral, anti-inflammatory, anti-psychotic, anti-cancer, anti-Parkinson, anti-depressant, and anti-coagulant. Surat based speciality chemical manufacturer Ami Organics has priced its issue in a band of Rs 603-610. Investors can bid for a minimum of 24 equity shares in multiples of 24 shares thereafter.

The grey market premium for Ami Organics IPO was Rs 50 according to market observers. “Currently grey market premium for Ami Organics is at Rs 50 which is 8.2 per cent of IPO price, so the grey market is not suggesting any big listing for Ami Organics IPO. Ami Organics IPO size is Rs 570 crore consists of fresh issues of 200 crore and an offer for sale of Rs 370 crore (60.6 Lk shares. The company has fixed the IPO price at price to earnings of 35.5 times of FY2021 earning, we believe that all the short-term positives have been priced in,” said Yash Gupta, Equity Research, Angel Brokings Ltd.