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Home >Markets >Stock Markets >Ami Organics shares list at strong premium, Vijaya Diagnostic sees tepid debut

Shares of specialty chemical manufacturer Ami Organics and healthcare chain Vijaya Diagnostic Centre made their stock market debut on Tuesday. Ami Organics shares listed at 910 per share on the NSE, a 49% premium against the issue price of 610 whereas Vijaya Diagnostic started trading at 540 apiece, up 1.6% from the issue price of 531.

Minutes after listing, Ami Organics slipped 2% to 878 while Vijaya Diagnostic continued to rise and surged to 576 apiece on the BSE.

The initial public offer (IPO) of specialty chemicals maker Ami Organics was subscribed 64.54 times, led by strong response from non institutional investors and qualified institutional buyers (QIBs) category whereas Vijaya Diagnostic IPO was booked 4.54 times.

Ami Organics is one of the leading R&D driven manufacturers of specialty chemicals with varied end usage, focused towards the development and manufacturing of pharma intermediates for regulated and generic APIs (active pharmaceutical ingredients) and NCE (new chemical entity) and key starting material for agrochemicals and fine chemicals. Ahead of its IPO, Ami Organics collected 171 crore from anchor investors.

Vijaya Diagnostic Centre offers pathology and radiology testing services through 80 diagnostic centres and reference laboratories across 13 cities and towns in the states of Telangana and Andhra Pradesh, as well as the National Capital Region and Kolkata. The 1,895 crore initial share sale was entirely an offer for sale of up to 3,56,88,064 equity shares. The price range for the offer was at 522-531 per share and the healthcare chain had raised a little over 566 crore from anchor investors ahead of its subscription opening.

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