Ambey Labs IPO Day 3: Issue subscribed over 127 times so far; check timeline and key details

The initial public offering (IPO) of agrochemical manufacturer Ambey Laboratories, which opened for subscription on July 4, has received a robust response from investors. The issue, which will conclude on July 8, has been subscribed 127.8 times so far on the final day.

The IPO has received bids for 51.69 crore shares as against 40.42 lakh equity shares on offer. The category for non-institutional investors (NIIs) saw the most demand, with the issue being subscribed 203.4 times the reserved quota.

The retail investors portion received a subscription of 164.6 times, while the qualified institutional investors (QIIs) quota was subscribed 27.2 times.

The ₹44.68 crore IPO is a mix of fresh issuance of shares aggregating to ₹42.55 crore and an offer for sale (OFS) component of 3.12 lakh shares by selling shareholder Sarina Gupta.

The price band for the initial share sale has been set at ₹65 to ₹68 per share.

The net proceeds from the public offer will be used to meet the company's working capital requirements and for general corporate purposes.

An interested investors can bid for at least 2,000 shares and in multiples thereafter.

Ambey Labs IPO: Timeline

• Bidding dates: July 4 to July 8
• Allotment finalisation: July 9
• Initiation of refund: July 10
• Shares credit to demat account: July 10
• Listing: July 11

About Ambey Labs

Ambey Laboratories, established in 1985, produces agrochemical products for protecting crops. Its manufacturing plant is in Behror, Rajasthan.

The company reported revenue of ₹100.43 crore for the ten-month period ending January 31, 2021. The profit after tax (PAT) stood at ₹6.07 crore, while the company's net worth was ₹34.31 crore in the first ten months of FY24.

Sarina Gupta, Arpit Gupta, Rishita Gupta and Archit Gupta are the company's promoters. At present, the promoter holding stands at 94.97%. Following the IPO, the promoter equity holding will be reduced to 69.08%.