Specialty chemicals maker Ami Organics has filed preliminary papers with capital markets regulator Sebi to float an initial share-sale.
The initial public offer (IPO) comprises fresh issue of equity shares worth Rs 300 crore and an offer for sale of up to 6,059,600 shares by promoters and existing shareholders, according to draft red herring prospectus (DRHP).
The company will utilise Rs 140 crore from the IPO proceeds towards repayment of certain debts and Rs 90 crore for funding working capital requirements.
Ami Organics is one of the leading R&D driven manufacturers of specialty chemicals with varied end usage, focussed towards the development and manufacturing of pharma intermediates for regulated and generic APIs (active pharmaceutical ingredients) and NCE (new chemical entity) and key starting material for agrochemical and fine chemicals.
Axis Capital, Ambit Pvt Ltd and Intensive Fiscal Services Pvt. Ltd have been appointed as merchant bankers to advise the company on the IPO.
This is the company's second attempt to go public. Earlier, Ami Organics had filed preliminary papers with Sebi in 2018 and had received the regulator's nod to launch the public issue. However, it did not float the IPO.
