Amkay Products IPO aiming to raise ₹12.61 crore. The IPO, which opened for subscription on April 30, 2024, and is set to close on May 3, 2024, has garnered significant interest from various investor categories.
Amkay IPO Subscription Status
As of 04:48 pm on Day 3, the Amkay Products IPO was subscribed 690.80 times. The Non-Institutional Investors (NII) category saw a massive oversubscription of 721.71 times, while the Retail Individual Investors (RIIs) category was oversubscribed by 967.70 times. The Qualified Institutional Buyers (QIBs) category, however, was under-subscribed at 173.04% of the allotted size.
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. This structure ensures a broad participation across investor categories.
Amkay IPO GMP
The Amkay IPO GMP was reported at ₹64. Taking the GMP, along with the upper price band of ₹55, the Amkay Products IPO expected listing price is ₹119. However, investors should note that GMPs are merely indicators and should not be the sole factor in assessing a company’s performance upon listing.
Amkay IPO Details
The Amkay Products IPO consists of 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 company plans to use the net proceeds from the offering for expanding its business operations, enhancing its research and development capabilities, and for general corporate purposes.
About Amkay Products
Amkay Products is a well-established name in the medical and surgical devices industry. The company is known for its high-quality products, which are used in various medical procedures and surgeries. With its IPO, Amkay Products aims to further strengthen its position in the market and expand its reach to new territories.
The company's manufacturing facility, spanning an area of about 26,000 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, and home healthcare products.
Read Next: Adani Group Stock Upbeat After Q4 Why Brokerages Advise Caution
Engineered by Benzinga Neuro, Edited by Utkarsh Roshan
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.