The Amkay Products IPO, aiming to raise ₹12.61 crore, is a fresh issue of 22.92 lakh shares. The IPO price band is set at ₹52 to ₹55 per share. The minimum lot size for an application is 2,000 shares, requiring a minimum investment of ₹110,000 by retail investors. The IPO bidding opened on April 30, 2024, and will close on May 3, 2024.
Amkay Products IPO Subscription Status
The Amkay Products IPO has seen significant interest from different categories of investors. As of 3:54 pm on Day, the IPO was subscribed 157.85 times. The Non-Institutional Investors (NII) category saw a massive oversubscription of 122.19 times, while the Retail Individual Investors (RIIs) category was oversubscribed by 268.33 times. The Qualified Institutional Buyers (QIBs) category, however, was under-subscribed at 0.53 times.
The IPO’s allocation structure reserves 18.94% of the shares for QIBs, 14.22% for NIIs, 33.25% for RIIs, and 28.36% for Anchor investors.
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Amkay Products IPO GMP
The Amkay Products IPO GMP is currently reported at ₹45. Taking the GMP, along with the upper price band of ₹55, the Amkay Products IPO expected listing price is ₹100. However, it’s important to note that while GMPs can provide some insight into market sentiment towards an IPO, they should not be the taken as the sole factor behind the company’s performance upon listing.
Amkay Products IPO Details
The proceeds from the IPO will be used for prepayment or scheduled repayment of existing borrowings, financing working capital requirements, and addressing general corporate purposes. The allotment for the Amkay Products IPO is expected to be finalised on Monday, May 6, 2024, with a tentative listing date fixed as Wednesday, May 8, 2024, on the BSE SME.
About Amkay Products
Established in October 2007, Amkay Products Limited is a healthcare product manufacturer and seller. The company offers a wide range of products including medical devices, disposables, and other essential items such as face masks, alcohol swabs, lancet needles, nebulizers, pulse oximeters, surgeon caps, and more. Their products are used by healthcare centers, hospitals/clinics, nursing homes, and other facilities across India.
The company’s manufacturing facility, spanning an area of about 26000 sq. ft., is fully equipped with machines, a testing lab, and other handling equipment to ensure a smooth process. The company offers over 30 healthcare products, including medical devices for respiratory diseases, surgical disposables, home healthcare products, and others.
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