Ami Organics IPO
Ami Organics IPO — date, price band, lot size & details 2021
Ami Organics listed on 14 Sep 2021 at ₹910, 49.2% above the ₹610 issue price.
Ami Organics is an R&D driven maker of advanced pharmaceutical intermediates for APIs and new chemical entities, and of materials for agrochemicals and fine chemicals. Its total income was Rs 341.99 crore in FY2021.
Stock price
Ami Organics is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 10 November.
- Open 01 Sep 2021
- Close 03 Sep 2021
- Allotment 08 Sep 2021
- Refund/credit 09 Sep 2021
- Listing 14 Sep 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 1 to 3 Sep, 2021 |
|---|---|
| Price Band | ₹603 – ₹610 |
| Face Value | ₹10 |
| Lot Size | 24 Shares |
| Issue Size | ₹569.64 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,640 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 24 shares at the ₹610 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 24 | ₹14,640 |
| Retail (max) | 13 | 312 | ₹1,90,320 |
| S-HNI (min) | 14 | 336 | ₹2,04,960 |
| S-HNI (max) | 68 | 1,632 | ₹9,95,520 |
| B-HNI (min) | 69 | 1,656 | ₹10,10,160 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 238.90 crore in FY2019 to Rs 341.99 crore in FY2021.
- 02Profit after tax rose from Rs 23.30 crore in FY2019 to Rs 54.00 crore in FY2021.
- 03EBITDA nearly doubled from Rs 41.02 crore in FY2020 to Rs 80.15 crore in FY2021.
- 04It has commercialised over 450 pharma intermediates across 17 therapeutic areas.
- 05Rs 140.00 crore of the fresh issue was planned for repaying debt.
Risks · 6
- 01Total borrowing rose from Rs 59.42 crore on 31 March 2020 to Rs 136.64 crore on 31 March 2021.
- 02Rs 369.64 crore of the Rs 569.64 crore issue was offer for sale, so most of the money went to selling shareholders.
- 03The pre-issue P/E was 37.45 at the upper band of Rs 610, based on EPS of Rs 16.29.
- 04All 3 plants are in Gujarat, so a local disruption could hit output.
- 05Results in FY2021 include the newly acquired Gujarat Organics business, so years are not fully comparable. Assets rose from Rs 231.89 crore to Rs 413.27 crore in that year.
- 06Promoters and the promoter group held only 47.23% before the issue, as per the RHP.
Three years of numbers
All figures in ₹ crore, as reported in the Ami Organics offer document.
| Metric | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|
| Assets | 413.27 | 231.89 | 213.15 |
| Total Income | 341.99 | 242.49 | 238.90 |
| Profit After Tax | 54.00 | 27.47 | 23.30 |
| EBITDA | 80.15 | 41.02 | 42.08 |
| NET Worth | 166.93 | 111.81 | 82.22 |
| Reserves and Surplus | 135.43 | 101.31 | 71.72 |
| Total Borrowing | 136.64 | 59.42 | 53.90 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Ami Organics RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Ami Organics IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹16.29 | ₹14.82 |
| P/E Ratio (x) | 37.45 | 41.16 |
| Market Cap at Offer Price (₹ Cr) | ₹2,022.10 | ₹2,222.67 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹610 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹275.98 Cr of the issue is earmarked to named objects.
About the company
It has developed and commercialised over 450 pharma intermediates across 17 key therapeutic areas, including anti-retroviral, anti-inflammatory, anti-psychotic, anti-cancer, anti-Parkinson, anti-depressant and anti-coagulant. It is one of the major makers of intermediates for APIs such as Dolutegravir, Trazodone, Entacapone, Nintedanib and Rivaroxaban.
It supplies more than 150 customers in India and 25 countries, including Laurus Labs, Cadila Healthcare and Cipla. Its three plants at Sachin, Ankleshwar and Jhagadia in Gujarat have an installed capacity of 6,060 MTPA.
The IPO was Rs 569.64 crore, with Rs 200.00 crore of fresh issue and Rs 369.64 crore of offer for sale. Rs 140.00 crore was planned for repaying borrowings and Rs 90.00 crore for working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Ami Organics IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
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Ambit Capital
9 issues handledBest listing: HD Fire Protect (+23.6%). Weakest: Metro Brands (-12.6%).
Intensive Fiscal Services Pvt. Ltd
1 issue handled1 of their issues has listed so far, and 1 opened above the issue price (average +13.2%). That is too small a sample to read as a hit rate.
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Ami Organics?
The current Grey Market Premium is ₹150, or 25% over the issue price.
What is the Ami Organics IPO price band?
₹603 to ₹610, on a face value of ₹10.
When is the allotment?
The basis of allotment is 8 September 2021, with listing on 14 September 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
