Ambey Laboratories IPO makes robust debut with 25% premium on NSE SME

Tanushree Jaiswal Tanushree Jaiswal

Last Updated: 11th July 2024 - 11:42 pm

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Ambey Laboratories IPO market debut was favorable as it got listed with 25% premium on NSE. for its shares.Over the course of three days, investor interest in the ₹ 44.68-crore public offer—a combination of an offer for sale and a fresh issue—grew to a staggering 172.67 times.

Ambey labrotaries was founded in 1985 and focuses on producing agrochemical products to preserve crops. On July 11, Ambey Laboratories' shares made a successful debut on the stock market when they listed at ₹ 85, which was 25% more than the issue price of ₹ 68 on the NSE SME platform. On the other hand, the listing gains do not match forecasts from the grey market, where shares were trading at a premium of almost 40%. Shares trade in the grey market, an unofficial ecosystem, well in advance of the offer's subscription opening and continue to do so until the day of listing.

Over the course of three days, investor interest in the ₹ 44.68-crore public offer—a combination of an offer for sale and a fresh issue—grew to a staggering 172.67 times. The leading buyers were non-institutional investors (NIIs), who exceeded their quota by 324 times. Qualified institutional buyers (QIBs) purchased 62 times the percentage allocated, with retail investors taking up more than 194 times that amount. It was founded in 1985 and focuses on producing agrochemical products to preserve crops. The company runs a manufacturing facility in Behror, Rajasthan, and produces and supplies 2,4-D base chemicals.

Read more about Ambey Laboratories IPO

The company intends to utilize the net proceeds to meet its working capital requirements, cover general corporate purposes, and address issue-related expenses

To Summarize

Ambey Labs IPO had a successful launch on the NSE Emerge platform. With a 25% gain over the issue price, shares were listed at ₹85 per share as opposed to the ₹68 per share issue price.

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