Amkay Products IPO booked 100x on day 2: Check latest subscription status, allotment and listing
Upstox
3 min read • Updated: May 2, 2024, 1:52 PM
Summary
Amkay Products IPO: The IPO of Amkay Products opened for bidding on April 30. The issue will close for subscription on May 3, 2024. Amkay Products IPO price band has been fixed at ₹52-55 per share.
Amkay Products IPO: Amkay Products IPO has been subscribed 100 times on the second day of bidding on Thursday, May 2.
The initial public offer of the healthcare products maker was booked 100 times driven by huge demand from retail investors. The public issue received bids for over 16.57 crore shares compared to 16.42 lakh shares on offer to public investors, the BSE data until 12:30 pm showed.
The ₹12.61-crore BSE SME public offer has received a massive response from retail investors. Non-institutional investors (NIIs) have also shown a strong demand for the Amkay Products IPO so far. However, the response from qualified institutional investors has remained muted in the first two days of bidding.
According to BSE data, the retail individual investor category was booked more than 170 times with biddings for over 12.97 crore shares against 7.62 lakh shares on offer. The NIIs category was booked 80 times with applications for more than 3.57 crore shares compared to 4.46 lakh shares set aside for the group.
The QIBs’ portion was booked only 9% with bids for 40,000 shares compared to 4.34 lakh shares reserved for the segment.
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Amkay Products IPO price band, lot size, allotment and listing
Amkay Products launched the public offer on the BSE SME platform to raise around ₹12.61 crore from public investors. The IPO is a book-built issue comprising a fresh issue of 22.92 lakh shares.
Amkay Products IPO price band has been fixed at ₹52-55 per share. The minimum lot size is 2,000 shares for retail investors, aggregating to a minimum investment of ₹1,10,000 for retail investors.
The IPO of Amkay Products opened for bidding on April 30. The issue will close for subscription on May 3. The company is expected to finalise the IPO share allotment on May 6.
Amkay Products IPO shares are tentatively scheduled to be listed on the BSE SME platform on May 8. Hem Securities Limited is the book running lead manager. Bigshare Services Pvt Ltd is the registrar for Amkay Products IPO. The market maker is Hem Finlease.
Amkay Products IPO objective
Amkay Products has proposed to utilise the net proceeds of the IPO 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.
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.
Its 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.