Ami Organics Files IPO Papers With Sebi

Ami Organics has filed preliminary papers with capital markets regulator Sebi to float an initial public offering (IPO). The specialty chemicals maker 's IPO will comprise a fresh issue of shares worth Rs 300 crore and an offer for sale of up to 6,059,600 shares by the promoter and existing shareholders, according to draft red herring prospectus filed with the regulator.

The OFS will consist of upto 7 lakh shares by Parul Chetankumar Vaghasia, upto 1.5 million shares by Girishkumar Limbabhai Chovatia, up to 3.05 million shares by Kiranben Girishbhai Chovatia, upto 1.74 lakh shares by Aruna Jayantkumar Pandya.

The company will utilise the IPO proceeds to repay debt and to fund working capital requirements.

Ami Organics manufactures pharma intermediates for regulated and generic APIs (active pharmaceutical ingredients) and NCE (new chemical entity), and key starting material for agrochemical and fine chemicals.

Axis Capital, Ambit and Intensive Fiscal Services are the merchant bankers to the IPO, whereas Link Intime is the registrar to the issue.

Ami Organics' peers in the specialty chemicals industry space include Aarti Industries, Hikal, Valiant Organics, Vinati Organics and Neuland Organics.