Business Standard

Anchor selling weighs on Ami Organics

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Shares of Ami Organics dropped more than 4 per cent on Friday as the 30-day lock-in period meant for anchor investors ended. Market observers said several institutio­nal investors could have booked profits as the stock has more than doubled over its issue price of ~610. It last closed at ~1,250. Abhilash Pagaria, assistant vice-president, Edelweiss Alternativ­e Research, said anchor investors had subscribed to 2.8 million shares — 7.7 per cent equity — of the company, engaged in the manufactur­ing of specialty chemicals. Its IPO in September had garnered 65 times subscripti­on. Some believe the selling pressure due to anchor selling can be used as a buying opportunit­y.

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