Ami Organics prices IPO at ~603-610 per share

Specialty chemicals manufacturer Ami Organics has priced its initial public offering (IPO) between ~603 and ~610 per share. Bids can be made for a minimum of 24 equity shares and multiples of 24 after that. The IPO will open on September 1 and conclude on September 3. It comprises a fresh issue of ~200 crore and an offer for sale of ~369 crore.

The company undertook a pre-ipo placement of shares of ~100 crore. It plans to utilise the net proceeds of the fresh issue for repayment of debts and funding working capital requirements.

Ami Organics develops and manufactures advanced pharmaceutical intermediates for active pharmaceutical ingredients (APIS).

The pharma intermediates that the firm manufactures have found application in certain high-growth therapeutic areas, including anti-retroviral, anti-inflammatory, and antidepressants. And commands significant market share both in India and globally. Apart from the domestic market, the company also supplies pharma intermediates used for manufacturing APIS to multinationals.