The initial public offering of agrochemical products manufacturer, Ambey Laboratories Ltd, has began subscription today (Thursday, July 4), and will end on Monday, July 8. Ambey Laboratories IPO price band has been set in the range of ₹65 to ₹68 per share. The minimum application for retail investors is for 2,000 shares. Out of the company’s paid-up capital post the IPO, 26.34% is made up of the issuance.
Ambey Laboratories has been providing services to the agrochemical industry for about forty years. The company manufactures agricultural products to preserve crops. Within the chemical business, the firm produces and distributes “2,4-D base chemicals” with a focus on quality and stringent adherence to Environmental, Health, and Safety (EHS) laws. The company operates a 5-acre manufacturing facility in the Behror, Rajasthan, India region for the manufacturing of “2, 4-D base chemicals.” It has Supervisory Control, Programmable Logic Controllers (PLCs), and a Quality Assurance Department that ensures testing through HPLC, GC, UV, and other methods at every stage of production.
As per the red herring prospectus (RHP), the company’s listed peers are Atul Ltd (with a P/E of 46.90), and Meghmani Organics Ltd (with a P/E of 63.21).
Ambey Laboratories IPO subscription status
Ambey Laboratories IPO subscription status is 7.48 times, on day 1, so far.
The retail portion was subscribed 11.91 times, and NII portion was booked 6.98 times. Qualified Institutional Buyers is yet to be booked.
The company has received bids for 3,02,32,000 shares against 40,42,001 shares on offer, at 13:03 IST, according to data on chittorgarh.com.
Ambey Laboratories IPO details
In order to raise ₹44.68 crore at the upper cap, the business is launching its first combination book building route IPO of 65,70,000 equity shares at a price of ₹10. The IPO consists of 3,12,000 shares through an Offer for Sale (OFS) (valued ₹2.12 crore at the upper cap) and 62,58,000 fresh equity shares (worth ₹42.56 crore at the highest cap).
The net proceeds from the IPO will be used to fund the company’s working capital needs as well as other general business objectives.
Quick Track The issue’s registrar is Link Intime India Pvt. Ltd., and its lead manager is Finsec Pvt. Ltd. Nikunj Stock Brokers Ltd. serves as the company’s market maker. The company’s shares are expected to be listed on NSE Emerge.
Ambey Laboratories IPO GMP today
Ambey Laboratories IPO GMP today is +33. This indicates Ambey Laboratories share price were trading at a premium of ₹33 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, Ambey Laboratories IPO expected listing price was indicated at ₹101 apiece, which is 48.53% higher than the IPO price of ₹68.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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