Ami Organics Listing TODAY: Anil Singhvi expects good market debut – check his strategy here
Ami Organics Listing: Ami Organics, a speciality chemical manufacturer, is expected to have a good start on exchanges on Tuesday, Zee Business Managing Editor Anil Singhvi predicts.
Ami Organics Listing: Ami Organics, a speciality chemical manufacturer, is expected to have a good start on exchanges on Tuesday, Zee Business Managing Editor Anil Singhvi predicts. The initial public offer (IPO) of Ami Organics was subscribed 64.54 times in three days between September 1-3, 2021.
Zee Business Managing Editor and the Market Guru Anil Singhvi in his expectation said, “The shares of Ami Organics to list in Rs 750-800 per share range. Long Term Investors must HOLD, while Short Term Investors keep a stop loss of Rs 700 per share and keep trailing.”
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Ahead of its IPO open, the managing editor in his preview had suggested investors to apply only for the long-term. He had said that the market has witnessed correction during listing in the last few issues despite being oversubscribed.
The valuations of Ami Organics IPO are reasonable neither expensive nor cheap, the market guru Singhvi had said, however, he believed that the valuations could have been a little lower.
AMI Organics की लिस्टिंग भी आज...
लिस्टिंग पर आप क्या करें?
— Zee Business (@ZeeBusiness) September 14, 2021
The speciality chemical maker’s IPO had a fresh issue of up to Rs 200 crore and an offer for sale of up to 60,59,600 equity shares, while its price range is at Rs 603-610 per share. The company day before its IPO launch had mobilised Rs 171 crore from anchor investors.
The Rs 569.63 crore IPO received bids for 42,22,36,296 shares against 65,42,342 shares on offer, as per data available with the exchanges.
The quota reserved for Qualified Institutional Buyers (QIBs) was subscribed 86.64 times, while non-institutional investors category subscribed 154.81 times and Retail Individual Investors (RIIs) applied for 13.36 times in three-day period.
The net proceeds from the fresh issue will be used towards repayment of certain debt and funding working capital requirements.
This is the company's second attempt to go public. Earlier, Ami Organics had filed preliminary papers with SEBI in 2018 and had received the regulator's nod to launch the public issue. However, it did not float the IPO.
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