Amkay Products IPO open for subscription: Check price band, issue size, minimum investment and other key details
Upstox
3 min read • Updated: April 30, 2024, 9:48 AM
Summary
Amkay Production IPO subscription will open on April 30 and close on May 3. The ₹12.61-crore public offer consists of a fresh issue of 22.92 lakh shares of a face value of ₹10 each.
Amkay Products Limited IPO is open for subscription. The ₹12.61-crore initial public offer of the medical devices and healthcare products manufacturer will be available for bidding on BSE.
The maiden public issue comprises a fresh issue of 22.92 lakh shares of a face value of ₹10 each. Amkay Products IPO shares will be listed on the BSE SME platform after the end of the subscription period.
For investors interested in participating in Amkay Products IPO, here are some key details to know before bidding.
Amkay Products IPO price band, lot size and minimum investment
The Amkay Products IPO price band has been set in the range of ₹52 to ₹55 per share. The lot size for the public issue is 2,000 shares.
The retail investors can apply for at least a single lot, aggregating to a minimum investment of ₹1.1 lakh at the upper price band and in multiples thereof. For high-net-worth investors (HNIs), the minimum investment amount would be ₹2.2 lakh as they need to bid for a minimum of 2 lots or 4,000 shares.
To know more and apply for Amkay Products IPO, click here
Amkay Products IPO Issue Size
Amkay Products IPO is a book-built issue of 22.92 lakh shares aggregating to ₹12.61 crore. There is no offer-for-sale (OFS) component in this public issue. Similar to other SME IPOs, Amkay Products' public issue has a market portion of 1.2 lakh shares. Hem Finlease Pvt Ltd is the market maker of the public issue.
Amkay Products has reserved nearly 50% of the net issue for qualified institutional buyers (QIBs), Non-institutional investors (NIIs) and retail investors have been allocated 15% and 35% of the net issue, respectively.
The company has appointed Hem Securities Limited as the sole book-running lead manager for the IPO. Bigshare Services Pvt Ltd is the registrar for Amkay Products IPO.
Amkay Products IPO objective
Amkay Product Limited plans to use the net proceeds of the fresh offering to fund capital expenditure on the installation of additional machinery. A part of the money raised in the IPO will also be used to meet the company's working capital requirement and general corporate purpose.
Amkay Products IPO dates
Amkay Products IPO subscription window will remain open between April 30 and May 3. After the end of subscription, Amkay Products IPO share allotment status is expected to be finalised on Monday, May 6.
The company is expected to credit the shares into the demat accounts of successful bidders on Tuesday, May 7, and refunds are also likely to be processed for the non-allottees the same day.
Amkay Products IPO share listing date is tentatively scheduled on Wednesday, May 8. Amkay Products Ltd shares will be listed on the BSE SME platform.
About Amkay Products
Amkay Products manufactures, assembles and markets medical devices, disposables and other healthcare products including face masks, alcohol swabs, lancet needles, nebulizers and Pulse Oximeters. The company's product portfolio comprises more than 30 products. Amkay Products is also engaged in branding and marketing products like diapers, plastic gloves and suction machines.
The company began its journey by manufacturing and supplying a single product from its unit in Mumbai Vasai. Subsequently adding more products to its portfolio, Amkay Products entered into the branding & trading segment along with manufacturing.
The company posted a total income of ₹28.26 crore with a net profit of ₹1.52 crore. For the 9 months ending in December 2023, Amkay Products reported ₹2.15 crore in net profit with an income of ₹23.85 crore.