PNN
Mumbai (Maharashtra) [India], July 3: Ambey Laboratories Limited, an agrochemical products manufacturer, has announced its plan to go public with an Initial Public Offering on July 03, 2024 (For Anchor Investor) and July 04, 2024 (For other than Anchor Investor). The company is aiming to raise Rs 44.67 Crores at upper price band through this IPO, with shares set to be listed on the NSE Emerge.
The issue size is Up to 65,70,000 equity shares at face value of Rs 10 each.
Equity Share Allocation
* QIB Anchor Portion - Up To 18,72,000 Equity Shares
* Qualified Institutional Buyers (QIB) - Up To 12,48,000 Equity Shares
* Non-Institutional Investors (NII) - Up To 9,36,000 Equity Shares
* Retail Individual Investors (RII) - Up To 21,84,000 Equity Shares
* Market Maker - Up To 3,30,000 Equity Shares
The net proceeds from the IPO will be utilized for Funding the working capital requirements of the Company and to meet General corporate purposes.
The Book Running Lead Manager to the Issue is Fast Track Finsec Private Limited. The Registrar to the Issue is Link Intime India Private Limited.
Archit Gupta, CEO of Ambey Laboratories Limited stated, "We are marking a significant milestone in our growth journey, showcasing our strong conviction in our company's proficiency and commitment to seize new opportunities to strengthen our market position. With two decades of expertise and advanced technology, we are dedicated to provide a diverse range of products to key market players both locally and globally. This decision marks a pivotal moment for us, enhancing our corporate standing and recognition. We envision this initiative bringing numerous benefits, ultimately adding significant value to our company as a whole. "
Vikas Verma, Director of Fast Track Finsec Private Limited said, " I'm glad about the upcoming IPO of AmbeyLaboratories Limited. The company has consistently demonstrated remarkable resilience and adaptability in the agrochemical sector. Their diverse operations, which include the manufacturing and distribution of a wide range of agrochemical products, showcase their strategic prowess and commitment to meeting industry demands. The company is well-positioned for future growth. Their commitment towardsinnovation and sustainability makes them an attractive investment opportunity. I believe this IPO brings a promising prospect."
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