Surat-based specialty chemical maker Ami Organics' initial public offer (IPO) hit Dalal Street on Wednesday. The public offer, estimated at Rs 570 crore, comprises fresh issuance of shares worth Rs 200 crore, and an offer for sale (OFS) of 60.6 lakh shares worth Rs 370 crore by existing stakeholders and promoters.

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Here are the key things to know about the Ami Organics IPO:

Important Dates: Shares will be available for bidding till September 3 -- the last day of the bidding process. Shares are likely to be listed on stock exchanges BSE and NSE on September 14.

Price Band: The company has set a price band of Rs 603-610 for the IPO.

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Lot Size: Investors will be able to bid for Ami Organics shares in multiples of 24 units (one lot comprises of 24 shares) up to 13 lots (312 shares). At the upper end of the price band, one lot will cost investors Rs 14,640.

Investor Categories: While 50 percent of the issue is reserved for qualified institutional buyers (QIBs), 15 percent is for non-institutional investors. The remaining 35 percent quota is reserved for retail investors.

Fund Utilisation: The proceeds from the IPO will be used towards repayment or prepayment of certain financial facilities (Rs 140 crore), for funding working capital requirements (Rs 90 crore), and for general corporate purposes.

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Company Profile: Founded in 2007, Ami Organics is an R&D-driven specialty chemical maker that develops advance pharma intermediates for active pharmaceuticals ingredients (APIs). Ami operates in multiple product segments, including agrochemicals, polymers and cosmetics.

An integrated supplier of global healthcare products, Ami Organics caters to both domestic and international markets covering the North and South Americas, Europe and Asia. The company has a strong market presence in more than 27 countries.

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Financials: The company has delivered profits for two back-to-back financial years. In FY21, Ami Organics' profit after tax came in at Rs 540 crore. In the previous financial year, its PAT was at Rs 275 crore.

First Published:Sept 1, 2021 8:38 AM IST