Ami Organics IPO subscribed 1.9x, Vijaya Diagnostic 0.3x on Day-1

Ami Organics’ garnered 1.9 times subscription, while that of Vijaya Diagnostic was subscribed 30 per cent on Wednesday, the first day of the issue. Both IPOs close on Friday.

Ami is a specialty chemicals firm focused on the pharma industry. Its comprises Rs 200 crore fresh fund raise and Rs 370 crore secondary share sale. The price band for its is Rs 603-610 per share.

At the top-end the company will have a market cap of Rs 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 Rs 1,894 crore.

Vijaya’s price band is Rs 522 to 531 per share. At the top-end, the company will have a market cap of Rs 5,414 crore and will be valued at 63.8 times its FY21 earnings.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link

Share Market Today