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IPO

Ami Organics IPO oversubscribed 64.6 times

Economic Times  

The IPO of Surat-based Ami Organics, priced at INR 603-610 per share, received bids for 422 million shares against 6.54 million shares on offer. The Qualified Institutional Buyer (QIB) and high-networth individuals (HNI) portions were subscribed 86 times and 155.4 times, respectively, while the retail portion was subscribed 13.4 times. The IPO includes issuance of fresh equity shares worth INR 200 crore and an offer for sale by promoters and existing shareholders of up to 6.059 million shares. The proceeds from the fresh issue will be used for repaying certain debts and for working capital along with general corporate purposes. The company has collected INR 171 crore from anchor investors ahead of its IPO by allotting 2.8 million shares at INR 610 each.