Ami Organics IPO, Vijaya Diagnostic IPO SUBSCRIPTION: Former issue oversubscribed, latter saw lackluster response on Day 1
The Initial Public Offerings (IPO) of Ami Organics and Vijaya Diagnostic opened for subscription on Wednesday, September 1, 2021.
![Ami Organics IPO, Vijaya Diagnostic IPO SUBSCRIPTION: Former issue oversubscribed, latter saw lackluster response on Day 1 Ami Organics IPO, Vijaya Diagnostic IPO SUBSCRIPTION: Former issue oversubscribed, latter saw lackluster response on Day 1](https://cdn.zeebiz.com/ads/placeholder_image-zeebiz.jpg)
The Initial Public Offerings (IPO) of Ami Organics and Vijaya Diagnostic opened for subscription on Wednesday, September 1, 2021. At the end of Day 1, while Ami Organic IPO was a good success with 1.9 times subscription, Vijaya Diagnostic saw only 30 per cent bids on the first day of the opening of the issue. Ami Organics and Vijaya Diagnostic IPOs will close on Friday, September 3, 2021.
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As per NSE bid details, Retail Individual Investors (RIIs) took part enthusiastically in this issue with RIIs applying for 92,60,160 shares as against allotted quota of 32,81,723, an 2.82 times.
Similarly, Vijaya Diagnostic also saw maximum participation from retail investors as RIIs made bids for 30,84,676 shares as against 1,24,38,323 reserved shares for public. The issue was overall subscribed only 0.19 times.
Ami Organics, a specialty chemicals firm focused on the pharma industry, 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. Ami Organics IPO comprises Rs 200 crore fresh fund raise and Rs 370 crore secondary share sale. The price band for its IPO is Rs 603-610 per share.
Vijaya Diagnostic claims to be the largest diagnostic chains in southern India. Vijaya Diagnostic IPO is entirely secondary share sale worth Rs 1,894 crore. Vijaya Diagnostic has kept the price band at Rs 522 to 531 per share.
Earlier, talking about Ami Organics IPO, Zee Business Managing Editor Anil Singhvi has recommended to apply with long-term objective. “The recent Issues failed to show bumper listings despite being oversubscribed, while those who didn’t get subscribed much had the good listing. Hence one should keep a long-term view as the September series could be a little volatile too," Anil Singhvi had said.
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