Ambey Laboratories share price makes a strong debut, stock opens with 25% premium at ₹85 apiece on NSE SME

  • Ambey Laboratories share price debuts on NSE SME at 85, 25% higher than issue price. IPO subscription oversubscribed at 173.18 times. Company produces agrochemical chemicals for crop protection and has listed peers like Meghmani Organics Ltd and Atul Ltd.

Dhanya Nagasundaram
First Published11 Jul 2024, 10:00 AM IST
Ambey Laboratories share price lists on NSE SME today.
Ambey Laboratories share price lists on NSE SME today. (https://www.trishulhomecare.com/)

Ambey Laboratories share price made a strong debut on NSE SME today. Ambey Laboratories share price today opened at 85, which is 25% higher than the issue price of 68.

Subscriptions for Ambey Laboratories Ltd's IPO opened on Thursday, July 4, and concluded on Monday, July 8. 2,000 shares made up the lot size for the Ambey Laboratories IPO. With a face value of 10, the Ambey Laboratories IPO price band was set between 65 and 68 per equity share. Ambey Laboratories IPO subscription status was 173.18 times, on day 3.

Ambey Laboratories produces agrochemical chemicals for crop protection. For almost forty years, the firm has provided services to the agrochemical industry. The business produces and distributes 2,4-D base chemicals. The following items are currently produced by the firm for its clientele, which consists of major corporations such as SC Formulator Co Ltd, JR Jindal Infraprojects Private Ltd, and Aromatic Rasayan Private Ltd.

The company's listed peers, according to the red herring prospectus (RHP), are Meghmani Organics Ltd. (P/E of 63.21) and Atul Ltd. (P/E of 46.90).

Also Read | Ambey Laboratories IPO allotment in focus today: here’s how to check status

Ambey Laboratories IPO details

The IPO consists of 62,58,000 new equity shares (valued at the maximum cap of 42.56 crore) and 3,12,000 shares through an Offer for Sale (OFS) with a value of 2.12 crore.

The company's working capital requirements and other general business goals will be funded by the net proceeds from the initial public offering.

Fast Track Finsec Pvt Ltd is the book running lead manager of the Ambey Laboratories IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Ambey Laboratories IPO is Nikunj Stock Brokers.

Also Read | Ambey Laboratories IPO booked over 173x on the last day of bidding

Ambey Laboratories IPO GMP today

Ambey Laboratories IPO grey market premium is +28. This indicates Ambey Laboratories share price were trading at a premium of 28 in the grey market, according to investorgain.com.

The estimated listing price for the Ambey Laboratories IPO was suggested at 96 per share, which is 41.18% higher than the IPO price of 68, taking into account the top end of the IPO pricing band and the present premium in the grey market.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read | Ambey Laboratories IPO price band set at ₹65 - 68 per share

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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First Published:11 Jul 2024, 10:00 AM IST
HomeMarketsIPOAmbey Laboratories share price makes a strong debut, stock opens with 25% premium at ₹85 apiece on NSE SME

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