Ambey Laboratories shares list at a 25% premium on NSE Emerge

Ambey Laboratories Ltd. made a strong debut on the NSE Emerge platform on Thursday, listing its shares at a 25% premium over the issue price.

According to the exchange data, shares of Ambey Laboratories were listed at ₹85 per share against the issue price of ₹68 per share, reflecting gains of 25% over the issue price.

The stock gained a further 5% from the listing, hitting a high of ₹ 89.25 per share on NSE Emerge, on investors' buying.

Nearly 17 lakh shares changed hands in the first five minutes of trade. The traded value was ₹14.55 crore, and its market valuation stood at ₹222.65 crore.

Ambey Laboratories IPO objective

The company plans to utilise ₹30.93 crore of the IPO proceeds to meet working capital requirements.

Ambey Laboratories is a manufacturer of agrochemical products used for crop protection. It has been serving the agrochemical sector for over four decades. The company manufactures and supplies '2,4-D base chemicals' with an emphasis on quality and strict compliance with Environmental, Health, and Safety (EHS) regulations. It has a manufacturing facility at Behror, Rajasthan.

Ambey Lab reported revenue from operations at ₹100.32 crore for the April-January period of 2023-24. The profit after tax was ₹6.07 crore. The revenue was ₹104.82 crore in FY2022-23 against ₹84.60 crore in the previous year.

Ambey Laboratories IPO details

Ambey Laboratories Ltd raised a total of ₹44.68 crore from public investors through its IPO. The public offer was open for subscription from July 4 to July 8, 2024.

The Ambey Laboratories IPO comprised a fresh issue of 62.58 lakh equity shares worth ₹42.55 crore and an Offer for Sale of 3.12 lakh shares worth ₹2.12 crore.

Promoter Sarina Gupta divested 3.12 lakh shares through the OFS route.

The company fixed the price band for the IPO at ₹65 to ₹68 per share. The minimum lot size for was 2000 shares and the minimum investment was ₹136,000 for retail investors.

Ambey Laboratories IPO subscription

According to the exchange data, Ambey Lab IPO was subscribed 173 times at the close of the offer on July 8. Applications for 69.99 crore equity shares worth ₹4,759.90 crore were received against 40.42 lakh shares on offer for subscription.

Retail investors’ portion was booked 195 times as bids for 42.60 crore shares worth ₹2,896.90 crore were received against 21.84 lakh shares on offer.

Non-institutional investors’ quota was booked 324 times. Bids for 19.64 crore shares were received against 606,001 equity shares on offer.

The Qualified institutional category was booked nearly 62 times as applications for 7.74 crore shares worth ₹526.97 crore were received against 12.52 lakh shares on offer for subscription.

Earlier, Ambey Laboratories had allotted 1,872,000 equity shares to anchor investors to raise ₹12.73 crore. The shares were allotted at a price of ₹68 per share. Vikasa India EIF, Saint Capital Fund, Nakshatra Stressed Assets Fund, SB Opportunities Fund and J4S Venture Fund are among the anchor investors.

The company announced the share allotment status on July 9. Investors can check the share allotment status on the website of IPO registrar Link Intime India Private Ltd.