Healthcare products manufacturer Amkay Products is all set to launch its initial public offerings (IPO) this week. The small and medium enterprise (SME) IPO will open bidding on April 30 and will close on May 3.
The healthcare producer has set the price band of its upcoming IPO at ₹52 to ₹55 per share. Investors have the option to bid for a minimum of 2000 shares and in multiples thereof.
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The SME IPO aims to raise over ₹12.61 crore and is entirely a fresh issue of 22.92 lakh fresh shares.
Amkay Products Limited produces, assembles, and markets an extensive range of medical devices, disposables, and healthcare products, including face masks, alcohol swabs, lancet needles, nebulizers, pulse oximeters, surgeon caps, and more. These items are utilized by healthcare centers, hospitals, clinics, nursing homes, and other medical facilities throughout India. Additionally, the company is involved in the branding and marketing of certain products such as diapers, plastic gloves, suction machines, and others.
During the fiscal years ending December 31 in 2021, 2022, and 2023, their revenue from manufacturing operations stood at ₹3020.24 lakhs, ₹2255.89 lakhs, and ₹2224.59 lakhs respectively. Concurrently, their revenue from branding & trading operations amounted to ₹1049.71 lakhs, ₹1394.48 lakhs, ₹561.83 lakhs, and ₹437.71 lakhs respectively for the same periods.
Hem Securities Limited serves as the book running lead manager for the Amkay Products IPO, with Bigshare Services Pvt Ltd appointed as the registrar for the offering. Hem Finlease has been designated as the market maker for the Amkay Products IPO.
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The allotment for the Amkay Products IPO is anticipated to finalise on Monday, May 6, 2024. The IPO of Amkay Products is scheduled to be listed on BSE SME, with a tentative listing date set for Wednesday, May 8, 2024.
Amkay Products IPO GMP
The grey market premium (GMP) of Amkay Products IPO is +25. This means that the shares of Amkay Products IPO is available at a premium of ₹25 in the grey market.
According to investorgain, the lowest GMP of Amkay Products IPO is ₹0, while the highest GMP is ₹25. The estimated listing price is ₹80, which is 45.45% higher than the IPO price of ₹55.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Published: 29 Apr 2024, 07:39 PM IST