Ambey Laboratories IPO Subscribed Over 7x on First Day! Check GMP, Subscription Status, and More | Stock Market News
Ambey Laboratories’ initial public offering (IPO) started today (Thursday, July 4) and will close on Monday, July 8. The IPO price range is set between ₹65 and ₹68 per share, with retail investors needing to apply for a minimum of 2,000 shares. The IPO represents 26.34% of the company’s paid-up capital after the offering.
Agrochemical Industry
Ambey Laboratories has been serving the agrochemical industry for about forty years, manufacturing products to protect crops. The company specializes in producing and distributing “2,4-D base chemicals,” adhering strictly to Environmental, Health, and Safety (EHS) standards. Their manufacturing facility is located on a 5-acre site in Behror, Rajasthan, and features advanced technology like Supervisory Control, Programmable Logic Controllers (PLCs), and a Quality Assurance Department that uses HPLC, GC, UV, and other testing methods.
According to the company’s red herring prospectus (RHP), its listed peers include Atul Ltd (P/E of 46.90) and Meghmani Organics Ltd (P/E of 63.21).
Ambey Laboratories IPO Subscription Status
On the first day of bidding, Ambey Laboratories’ IPO was subscribed 7.48 times. The retail portion was subscribed 11.91 times, and the non-institutional investor (NII) portion was subscribed 6.98 times. The qualified institutional buyers (QIB) portion has not yet been subscribed.
As of 13:03 IST, the company received bids for 3,02,32,000 shares against 40,42,001 shares on offer, according to data on chittorgarh.com.
Ambey Laboratories IPO Details
The company aims to raise ₹44.68 crore at the upper price cap through its first combination book building route IPO of 65,70,000 equity shares priced at ₹10 each. The IPO includes 3,12,000 shares through an Offer for Sale (OFS) valued at ₹2.12 crore at the upper cap and 62,58,000 fresh equity shares worth ₹42.56 crore at the highest cap.
The funds from the IPO will be used to meet the company’s working capital needs and other general business purposes.
The issue’s registrar is Link Intime India Pvt. Ltd., and the lead manager is Finsec Pvt. Ltd. Nikunj Stock Brokers Ltd. is the company’s market maker. The shares are expected to be listed on NSE Emerge.
Ambey Laboratories IPO GMP Today
The Grey Market Premium (GMP) for Ambey Laboratories’ IPO today is +33. This means the shares are trading at a premium of ₹33 in the grey market, according to investorgain.com.
Given the upper end of the IPO price band and the current GMP, Ambey Laboratories’ IPO is expected to list at ₹101 per share, which is 48.53% higher than the IPO price of ₹68.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
