Ami Organics surges 20% after strong debut; up 84% in two days
The company had very recently issued shares at Rs 610 apiece after a strong response to its IPO.
Ami Organics’ stock increased 20% in intraday trade on the BSE on Wednesday after the specialty chemicals business made a spectacular market debut on Tuesday. With today’s bounce, the stock has risen by 84 percent from its issue price of Rs 610 a share in just two trading sessions.
Ami Organics specializes in the production of advanced pharma intermediates (PI) for regulated/generic APIs and critical starting materials for agrochemicals and fine chemicals. In Gujarat, the business operates three manufacturing plants with a total installed capacity of 6060 Mtpa.
From FY22 onwards, synergy benefits with GOL will begin to materialize, boosting profitability. Ami Organics will be debt-free following the IPO. It has healthy return percentages of around 18%, according to the company.
The stock was 16.8% higher at Rs 1,093 on the BSE at 10:41 a.m., compared to a 0.47 percent advance in the S&P BSE Sensex. On the NSE and BSE, a total of 3.9 million equity shares were traded over the counter.