Vijaya diagnostic center, Ami Organics will open for subscription. Key details here
Two companies are expected to launch their initial public offering (IPO) on the first day of September. Public offerings by healthcare chain Vijaya Diagnostic center and specialty chemicals maker Ami Organics will begin on September 1, and the three-day sale of both companies’ shares will end on September 3.
IPO this week –
Vijaya Diagnostic Center: The price range for the IPO of Vijaya Diagnostic has been set at ??522-531 per share. The issue is entirely an offer for sale (OFS) of 35,688,064 shares by the promoters, Dr S Surendranath Reddy and the investors Karakoram Ltd and Kedaara Capital Alternative Investment Fund – Kedaara Capital AIF 1. Vijaya Diagnostic shares are subject to ” be listed on the stock exchange on September 14.
“The IPO was priced at 64 times the earnings of FY2021, which is close to listed players in India. We have a neutral outlook on the Vijaya Diagnostic Center IPO,” said Yash Gupta, equity research analyst Angel Broking.
Vijaya Diagnostic Center is a leading diagnostic chain in South India. “The company has performed well over the years which is reflected in the growth in bottom line and bottom line. On the upper band of 531, the requested P / E is around 64x, which appears to be higher, the The problem is also purely OFS and The recent fiasco in primary markets has brought down investor sentiment, so he would be keen to watch the subscription rush, ”said Abhay Doshi, founder of UnlistedArena.com, specializing in pre-equity stocks. -IPO and unlisted.
Friend Organics: The price range for selling the three-day shares has been set at ??603-610 per share. The public offering includes a new issue of shares worth ??300 crore and an offer to sell (OFS) of up to 6,059,600 shares by the promoter and existing shareholders. The company will use the proceeds of the IPO to repay certain debts and finance its working capital requirements.
Ami Organics deals with different types of advanced pharmaceutical intermediates and active pharmaceutical ingredients (APIs) and materials for agrochemicals and fine chemicals.
“The company priced the IPO at 35.5 times earnings for fiscal 2021, which is in line with peers. We believe all the short-term positives have has been factored in. The company has a good return ratio, return on capital employed 25.25% and return on equity at 32.35%. We have a neutral outlook for the IPO of Friend Organics, ”said Yash Gupta of Angel Broking.
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