Ambey Laboratories Ltd, which is engaged in manufacturing agrochemical products for crop protection, today announced its price band of Rs. 65 - Rs 68 per share for its initial public offering. The initial public offering will open on July 04, 2024, and close on July 08, 2024. The initial public offering will be through a book building route and the company will offer fresh equity shares of 62.58 lakh shares aggregating to Rs 42.68 crore at the upper cap. It will offer for sale 3.12 lakh shares aggregating to Rs 2.12 crore at the upper cap.
The company is entering the capital market with its maiden combo book building route IPO of 6570000 equity shares of Rs. 10 each to mobilize Rs. 44.68 cr. at the upper cap. The IPO constitutes 6258000 fresh equity shares (worth Rs. 42.56 cr. at the upper cap) and 312000 shares by way of Offer for Sale (OFS) (worth Rs. 2.12 cr. at the upper cap).
For retail investors, the minimum application to be made is for 2000 shares and in multiples thereon, thereafter. Post allotment, shares will be listed on NSE SME Emerge. The issue constitutes 26.34% of the post-IPO paid-up capital of the company. Fast Track Finsec Pvt. Ltd is the lead manager to the issue and Link Intime India Pvt. Ltd. is the registrar to the issue. Nikunj Stock Brokers Ltd. is the market maker for the company. The shares of the company will be listed on NSE Emerge.
Ambey Laboratories has been promoted by Archit Gupta, Arpit Gupta, Sarina Gupta, and Rishita Gupta. The promoter holding in the company currently stands at 94.97%. However, post the fresh issue of shares, the promoter equity holding share will get diluted to 69.08%. The fresh issue funds will be used by the company for meeting the working capital requirements of the ongoing business. A small part of the IPO proceeds has also been set aside for general corporate purposes.
Incorporated in 1985, Ambey Laboratories manufactures agrochemical products for crop protection at its manufacturing facility in Behror, Rajasthan, which is certified with ISO 9001:2015 by the Quality Research Organization and ISO 14001:2015 by the United Accreditation Foundation. Due to backward integration of products, its plant is ZLD (Zero Liquid Discharge) to ensure minimum emissions and waste generation. It explores downstream products from core intermediaries to meet and exceed customer expectations and operation ensures organized inflow state of the art manufacturing and supply sustainability to valued customers.
Due to backward integration of products, its plant is ZLD (Zero Liquid Discharge) to ensure minimum emissions and waste generation. It explores downstream products from core intermediaries to meet and exceed customer expectations and operation ensures organized inflow state of the art manufacturing and supply sustainability to valued customers. Presently the company manufactures 2,4-D Acid 98% TC, 2,4-D Sodium 95% SP 2,4-D Amine 866 and other specialized agro-chemicals. |
