The speciality chemicals player has been able to hold its ground in the grey market. Last heard, it was commanding a premium of Rs 165-170 in the unofficial market, which was around Rs 130 when the issue was announced.
Analysts say positive sentiments in the secondary market and action in chemicals space is adding to the demand for the stock in the grey market.
The basis of allotment is likely to be finalised by Wednesday, September 8. The shares of the company are expected to list on Tuesday, September 14.
The Rs 570 crore issue, which was sold in Rs 603-Rs 610 price band from September 1 and September 3, received a strong response and got subscribed up to 65 times, thanks to strong demand from qualified institutional buyers (QIBs) and HNIs.
Analysts noted that the issue is reasonably priced. Considering the FY-21 adjusted EPS of Rs 14.82 on a post-issue basis, the company is going to list at a PE of 41.16 with a market cap of Rs 2,222.7 crore while its peers, namely Aarti Industries and Hikal, are trading at PEs of 54.20 and 46.13, respectively.
Investors, who had bid for the issue, can check the allotment status on BSE website:
1) Visit
https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Ami Organics Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on ‘I am not a Robot’ and hit submit.
You can also check the allotment status on the online portal of Link Intime India Private Limited (
https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatch, and uploading of refunds, and attending to all investor-related queries after the issue is completed.
1) Go to the web portal of Link Intime India Private Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalised
3) You may be required to select either one of the three modes: Application number, Client ID or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit
Unsuccessful bidders may see initialisation of refunds on Thursday while successful bidders may see the credit of shares in their demat accounts by Monday, September 13.
Yash Gupta, Equity Research Analyst, Angel Broking, said Ami Organics IPO was priced at a PE of 35.6 times and EV/EBITDA of 25.7 times at the upper price band of the IPO based on FY 2021 numbers. “We suggest short-term investors to book profit on listing day,” he added.
