Ami Organics, specialty chemical compounds maker, has filed a draft red herring prospectus (DRHP) with the capital markets regulator SEBI to launch an IPO. The proposed public situation comprises a fresh situation of Rs 300 crore and an offer you for sale (OFS) of up to 60.6 lakh shares by its current promoters and shareholders. Ami Organics stated that it is in consultation with its book-operating managers for pre-IPO placement of up to Rs one hundred crore. Intensive Fiscal Services Pvt Ltd, Ambit Pvt Ltd and Axis Capital Ltd are the book operating lead managers to the situation. Link Intime Private Ltd is the registrar to the situation. The equity shares presented by way of red herring prospectus (RHP) are proposed to be listed on the stock exchanges.
This is the Ami Organics’ second try to go public. In 2018, Ami Organics had filed preliminary papers with SEBI and received the capital markets regulator’s approval to launch the initial public providing. However, it did not float the IPO. The enterprise has planned to utilise the proceeds from the situation for repayment of economic facilities of up to Rs 140 crore. The firm will also use up to Rs 90 crore for funding working capital needs.
Ami Organics OFS consists of
Parul Chetankumar Vaghasia: up to 7 lakh shares
Girishkumar Limbabhai Chovatia: up to 15 lakh shares
Kiranben Girishbhai Chovatia: up to 30.50 lakh shares
Aruna Jayantkumar Pandya: upto 1.74 lakh shares
Hina Indreshbhai Shah: up to 87,300 shares
Harshad Ramlal Sheth: up to 87,280 shares
Dhirajlal Amrutlal Amlani: upto 76,200 shares
Vrushti Atullumar Shah: up to 75,000 shares
Jolitbhai Jasvantlal Shah: up to 63,000 shares
Nishit Atulkumar Shah: up to 55,920 shares
Surabhi Yash Shah: up to 49,000 shares
Narmada Amrutlal Amlani: up to 32,000 shares
Shanti Devi Kankaria: up to 26,500 shares
Divya Mahendrakumar Kankaria: up to 19,000 shares
Chovatiya Haresh H: up to 15,000 shares
Amitaben Jolitbhai Shah: up to 14,910 shares
Saryu Dhirajlal Amlani: upto 14,500 shares
Koladia Mehul M: up to 10,000 shares
Jyotiben Rakeshbahi Lahoti: up to 8,700 shares
Shah Disha Jolit: up to 699 shares
Upon profitable listing, Ami Organics will join the likes of Aarti Industries, Hikal Ltd, Valiant Organics, Vinati Organics, Neuland Organics and Atul Ltd. The typical P/E of the business peer stands at 44.82x. The emerging marketplace and creating economies are anticipated to lead the all round development rebound, with the chemical compounds sector driving the development story. As the chemical business lies at the heart of quite a few worth chains and acts as a remedy provider to other sectors of the economy, it plays a pivotal function in major a sustainable recovery, the enterprise stated in the DRHP.
Specialty chemical compounds business can be categorised into a mix of finish-use driven segments and application-driven segments. In terms of attractiveness, the many segments across specialty chemical compounds differ in competitive intensity, margin profiles, defensibility against raw material price movements, and development. The Indian chemical compounds marketplace is valued at $ 166 billion (4% share in the international chemical business) in 2019. It is anticipated to attain $ 326 billion by 2025, with an anticipated development of 12% CAGR. The specialty chemical business types 47% of the domestic chemical marketplace, which is anticipated to develop at a CAGR of about 11-12% more than the similar period.