Ambey Labs IPO booked 9. 5 times so far on Day 1 led by strong retail demand

Ambey Labs IPO (Ambey Laboratories Limited) garnered massive interest from investors on the first day of bidding on Thursday, July 4, as the public issue was booked 9.5 times within hours of launch.

The agrochemical products maker's initial public offering (IPO) received bids for nearly 3.88 crore shares against 40.42 lakh shares on offer for retail investors, the NSE data showed until 2.15 pm. The NSE SME IPO was booked 9.59 times.

Retail investors led the demand, bidding for more than 3.28 crore shares against the 21.84 lakh shares set aside for them, leading to a subscription of 15.04 times in the category. Non-institutional investors (NIIs) applied for 59.36 lakh shares compared to the 6.06 lakh shares set aside for the category. The category was booked 9.79 times.

Ambey Labs IPO received no bids in the Qualified Institutional Buyers (QIB) category. The company has reserved 12.52 lakh shares for the QIB category.

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Ambey Labs IPO: Price band and lot size

Agrochemical products maker Ambey Labs’ public issue is valued at ₹44.68 crore. The book-built issue comprises a fresh issue of 62.58 lakh shares aggregating to ₹42.55 crore in combination with an offer for sale of 3.12 lakh shares aimed at raising ₹2.12 crore.

Ambey Labs IPO price band has been fixed at ₹65 to ₹68 per share.

Retail investors interested in bidding for Ambey Labs IPO can place bids in a minimum lot size of 2,000 shares, which aggregates to an investment of ₹1,36,000. The minimum lot size for High Net Worth Individuals (HNIs) is two lots comprising 4,000 shares, aggregating to an application size of ₹2,72,000.

Ambey Labs IPO dates

The subscription window for Ambey Labs IPO opened today on Thursday, July 4. The subscription will close on Monday, July 8. The share allotment status of Ambey Labs IPO is likely to be finalised by July 9. Refunds will be issued for unsuccessful bidders and successful bidders will receive shares of Ambey Labs in their Demat accounts on July 10.

The tentative listing date for Ambey Labs’ shares is Thursday, July 11. Shares of the agrochemical products maker will list on the NSE SME platform.

Ambey Labs IPO Financials

Ambey Labs revenue for the nine-month period ended January 31, 2024, stood at ₹100.43 crore. The company’s Profit-After-Tax (PAT) stood at ₹6.07 crore in the same period. The agrochemical product maker’s net worth for the nine-month period stood at ₹34.31 crore.

Ambey Labs revenue for the fiscal year ended March 31, 2023, grew 26% to ₹107.43 crore compared to ₹85.11 crore in the year ended March 31, 2022. The agrochemical company’s PAT rose nearly 28% to ₹4.56 crore compared to ₹3.57 crore in the preceding fiscal. The company’s net worth for FY23 grew 24% to ₹23.63 crore compared to ₹19.06 crore in FY22.

Ambey Labs Promoters

The promoters of Ambey Labs IPO are Archit Gupta, Arpit Gupta, Sarina Gupta and Rishita Gupta. Before the issue the promoters held 94.97% stake in the company. The shareholding of the promoters will reduce to 69.90% after the public issue.

Ambey Labs Anchor Investors

The company allocated 1,872,000 shares to anchor investors as a part of the public issue. Ambey Laboratories IPO raised ₹12.73 crore from anchor investors on July 3.

Ambey Labs IPO Registrar

The book-running lead manager for Ambey Laboratories IPO is Fast Track Finsec Pvt Ltd. The registrar for Ambey Labs IPO is Link Intime India Private Ltd the market maker is Nikunj Stock Brokers.

Ambey Labs IPO Objective

Ambey Labs plans to utilise the proceeds of the public issue for meeting working capital requirements. The money raised will also be used for fulfilling general corporate purposes and issue related expenses.

About Ambey Labs

Ambey Laboratories was incorporated in 1985 and has served the agrochemical industry for nearly four decades. The company is a manufacturer and supplier of 2, 4-D base chemicals. Ambey Laboratories manufacturing facility is located in Behror, Rajasthan. As of October 31, 2023 the company employs 220 people in various departments.

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