When markets are at an all-time high, the month of September is opening up with two mega IPOs- Vijay Diagnostics and Ami Organics. Both, chemical speciality manufacturer Ami Organics and the fastest growing chain of diagnostics labs, Vijaya Diagnostics are are going to open for subscription from September 1. With these two mega IPOs- it seems IPO frenzy is not yet over. Surat-based Ami Organic is eyeing Rs 569.63 crore through the IPO while Vijaya Diagnostics is planning to raise Rs 1,895.04 crore from the initial public offering. The IPO for both companies will open on September 1 and stay open for three days of trading. However, the public issue will come to a close on September 3.
Ami Organics is well-known for developing a wide array of pharma medicine across 17 key therapeutic areas i.e. anti-retroviral, anti-inflammatory, anti-psychotic, anti-cancer, anti-Parkinson, anti-depressant, and anti-coagulant. The company has developed over 450 pharma intermediates and have three manufacturing units in Gujarat. On the other hand, Vijaya Diagnostics Centre, one of the renowned diagnostic chains in South India and one-stop-shop solutions for pathology and radiology testing services. Vijaya Diagnostics holds a network of 80 diagnostic centers and 11 reference laboratories all across 13 cities and towns in India- including the National Capital region, Telangana, Kolkata and Andhra Pradesh.
Vijaya Diagnostics IPO: Share price, GMP, Key Details
Vijaya Diagnostics Centre has priced its initial public offering (IPO) between Rs 522 to Rs 533. Bids can be made for a minimum of 28 shares that has an application amount of Rs 14,868, and a maximum for 364 shares for Rs 193,284 as the maximum application amount. The grey market premium of the Vijay Diagnostics Centre Limited IPO stood at Rs 35 as per information on IPO Watch. In both the IPOs, the Retail portion has an allotment of 35 per cent for the issue. The qualified institutional buyers (QIBs) were given a reservation of 50 per cent and the non-institutional investors (NIIs) have a 15 per cent reservation allotted to them.
Ami Organics IPO: Share price, GMP, Key Details
On the other hand, Ami Organics has priced its initial public offering (IPO) between Rs 603 and Rs 610 per share. Bids can be made for a minimum of 24 equity shares and multiples of 24 after that. The IPO comprises a fresh issue of Rs 200 crore and an offer for sale of Rs 369 crore. As far as the subscription is concerned, the retail investors can subscribe for a minimum of Rs 14,640 worth of shares in a single lot, and the maximum investment would be Rs 1, 90,320 for 13 lots. The grey market premiums for Ami Organic IPO stands at Rs 60.
After subscribing to the IPO, the basis of allotment will happen on September 8, a refund will take place on September 9 and share accreditation will happen on September 13 for both the IPO. As far as the financial performance of Ami Organics is concerned, the revenue of Ami Organics has risen exponentially between 2019 -2021. The company’s profit rose from 232.95 million in 2019 to 539.99 million in 2021. On the flip side, the financial performance of Vijay Diagnostic nosedived from Rs 388.5 crore in 2019 to 302.90 crore in 2021.
The promoter for the Vijaya Diagnostics Centre Limited is Dr S Surendranath Reddy. On the other hand, the promoters of Ami Organics are Nareshkumar Ramjibhai Patel, Chetankumar Chhaganlal Vaghasia, Shital Nareshbhai Patel and Parul Chetankumar Vaghasia.
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