Ami Organics IPO gets subscribed 1.90 times at end of Day-1

The Rs.570 crore IPO of Ami Organics, consisting of Rs.200 crore fresh issue and Rs.370 crore OFS, got fully subscribed on Day-1 itself. As per the combined bid details put out by the BSE, Ami Organics IPO was subscribed 1.90X overall, with bulk of the demand coming from the retail segment followed by domestic institutions. The issue closes for subscription on Friday, 03 September.

As of close of 01 September, out of the 65.42 lakh shares on offer, Ami Organics saw bids for 124.03 lakh shares. This implies an overall subscription of 1.90X. The granular break-up of subscriptions were tilted in favour of retail investors.

Ami Organics IPO Subscription Day-1

QIB Portion

The QIB portion saw 1.39X subscription with demand for 25.74 lakh shares against 18.54 lakh shares available; net of anchor placement. On 31 August, Ami Organics did anchor placement of Rs.171 crore to QIB investors like SBI MF, Nippon MF, Malabar Fund, Kuber Fund, UTI MF, IIFL Asset Management, Elara India, Birla Sun Life, Kotak Life etc.

HNI Portion

The HNI portion got subscribed 0.40X (getting applications for 5.69 lakh shares against the quota of 14.06 lakh shares). Funded applications and corporate applications, come in on last day, so we have to wait for that to get a clear picture.

Retail Individuals

The retail portion got subscribed 2.82X times at the end of Day-1, showing strong retail appetite. Among retail investors; out of the 32.82 lakh shares on offer, valid bids were received for 92.60 lakh shares, of which bids for 70.33 lakh shares were at the cut-off price. The IPO is priced in the band of (Rs.603-Rs.610) and has allocated a quota of 35% for retail and 50% for QIBs.

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Applications for Ami Organics IPO will start on Day 2 i.e. - September 02 at 10.00 am. and will be open till 5 p.m.

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Ami Organics - IPO Note

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