Ami Organics IPO subscribed 5x, Vijaya Diagnostic 0.5x on Day 1

Ami Organics’ initial public offering (IPO) was subscribed nearly 5 times, while that of Vijaya Diagnostic was half covered on Thursday. Both IPOS close on Friday.

Ami is a specialty chemicals firm focused on the pharma industry. Its IPO comprises ~200crore fresh fund raise and ~370-crore secondary share sale. The price band for its IPO is ~603610 per share. At the top-end the company will have a market cap of ~2,223 crore and is valued at 41.2 times its FY21 earnings. Vijaya Diagnostic is among the largest diagnostic chains in southern India. Its IPO is entirely a secondary share sale worth ~1,894 crore. Vijaya’s price band is ~522 to 531 per share. At the top-end, the company will have a market cap of ~5,414 crore and will be valued at 63.8 times its FY21 earnings.