Specialty chemicals maker Ami Organics Ltd's IPO will open on 1 September and close on 3 September. The issue comprises a fresh issue of ₹200 crore and an offer for sale of upto 6.06 million shares by its existing promoters and shareholders.
MUMBAI: Specialty chemicals maker Ami Organics Ltd has fixed the price band of its initial public offering at ₹603-610 a share. The firm earlier said that its IPO will open on 1 September and close on 3 September.
The issue comprises a fresh issue of ₹200 crore and an offer for sale of upto 6.06 million shares by its existing promoters and shareholders.
The OFS consists of upto 7 lakh shares by Parul Chetankumar Vaghasia, upto 1.5 lakhs shares by Girishkumar Limbabhai Chovatia, upto 3.05 million shares by Kiranben Girishbhai Chovatia, upto 1.74 lakh shares by Aruna Jayantkumar Pandya
At the upper end of price band, the company will raise around ₹570 crore.
The firm in its DRHP said that it is in consultation with its book running managers for pre-IPO placement of upto ₹100 crore.
Intensive Fiscal Services Pvt. Ltd, Ambit Pvt. Ltd and Axis Capital Ltd are the book running lead managers to the issue.
The proceeds from the issue will be used for repayment of financial facilities of upto ₹140 crore. The firm will also use upto ₹90 crore for funding working capital requirements. As of March 2021, its net debt stood at ₹218.73 crore.
For the fiscal year 2021, the company reported a revenue of ₹340.61 crore versus ₹239.64 crore a year ago. Net profit for the period stood at ₹53.99 crore against ₹27.47 crore last year.
Ami Organics is the leading research and development driven manufacturers of specialty chemicals with varied end usage, focused on the development and manufacturing of advanced pharmaceutical intermediates for regulated and generic active pharmaceutical ingredients and New Chemical Entities and key starting material for agrochemical and fine chemicals, especially from our recent acquisition of the business of Gujarat Organics Ltd.
The firm has developed and commercialised over 450 pharma intermediates for APIs across 17 key therapeutic areas since inception and NCE, with a strong focus on R&D across select high-growth high margin therapeutic areas such as anti-retroviral, anti-inflammatory, anti-psychotic, anti-cancer, anti-Parkinson, anti-depressant and anticoagulant, for use across the global pharmaceutical market.
Along with the domestic market, the firm said it supplies pharma intermediates used for manufacturing of APIs and NCEs to various multi-national pharmaceutical companies which cater to the large and fast-growing markets of Europe, China, Japan, Israel, UK, Latin America and the US.
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