The issue opened for bidding on Wednesday (1 September 2021) and it will close on Friday (3 September 2021). The price band of the IPO was fixed at Rs 603-610 per share.

The IPO comprises of a fresh issue of up to Rs 200 crore by the company and an offer for sale (OFS) of up to 60,59,600 equity shares by promoter selling shareholder and other selling shareholders.

The company will not receive any proceeds from the offer and all the offer proceeds will be received by the selling shareholders, in proportion to the offered shares sold.

The company proposes to utilize the net proceeds of the fresh issue and the proceeds from the pre-IPO placement towards repayment/prepayment of certain financial facilities availed by the company amounting Rs 140 crore, funding working capital requirements amounting Rs 90 crore and balance towards general corporate purposes. Total outstanding loan amount as on 30 June 2021 is Rs 145.35 crore.

Ahead of the IPO, Ami Organics on 31 August 2021 finalized allocation of 28,01,485 equity shares to anchor investors at an allocation price of Rs 610 per share, aggregating to Rs 170.89 crore.

Ami Organics is a research and development driven specialty chemicals manufacturer with varied end usage, focused on the development and manufacturing of advanced pharmaceutical intermediates for regulated and generic active pharmaceutical ingredients (APIs) and new chemical entities (NCE) and key starting material for agrochemical and fine chemicals, especially from its recent acquisition of the business of Gujarat Organics (GOL).

The company reported a consolidated net profit of Rs 54 crore and total income of Rs 340.61 crore in the twelve months ended 31 March 2021.