Quote on Ami Organics IPO price announcement by Mr. Yash Gupta, Angel Broking Ltd
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Below is quote on Ami Organics IPO price announcement by Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd
Ami Organics has announced its IPO price of Rs. 603-610, IPO to open on 1st September 2021 with an issue size of Rs.570 crores.
Gujarat based specialty chemical manufacturer, open for subscription from 1st September to 3rd September 2021, with a total IPO size of Rs.570 crores consists of fresh issues of 200 crores and an offer for sale of Rs.370 crores (60.6 Lk shares). Investors can apply in multiples of 24 shares. The company has fixed the IPO price at price to earning of 35.5 times of FY2021 earning, which is in line with the peers. we believe that all the short-term positives have been priced in.
Ami organics deal in different types of Advanced Pharmaceutical Intermediates and Active Pharmaceutical Ingredients (API) and materials for agrochemical and fine chemicals. Ami Organics has 3 manufacturing facilities with an aggregate installed capacity of 6060 Mtpa. The company has developed over 450 pharma intermediates across 17 key therapeutic areas i.e. anti-retroviral, anti-inflammatory, anti-psychotic, anti-cancer, anti-Parkinson, anti-depressant, and anti-coagulant. Ami organic reported revenue growth of 41% in FY2021 at ₹342 crores and profit after tax growth of 96% in FY2021 at ₹54 crores. The company has a good return ratio, return on capital employed 25.25% and return on net worth at 32.35%.We have a neutral outlook for Ami organics IPO.
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