Ambey Laboratories' IPO Overwhelmingly Subscribed 173 Times on Final Day

Ambey Laboratories' IPO received massive interest, getting 173.18 times the subscription on its final offering day. The IPO's retail, non-institutional, and institutional categories saw high demand. The Rs 44.68 crore IPO will fund the company's working capital and other corporate needs.

The initial public offering (IPO) of Ambey Laboratories garnered significant interest, with subscriptions exceeding 173.18 times the offer on its final day on Monday, driven by robust participation from institutional investors.

According to NSE SME data, the IPO received bids for approximately 69.99 million shares against the 4.04 million shares on offer.

Notably, non-institutional investors subscribed 324.22 times, retail individual investors 195.06 times, and qualified institutional buyers 61.90 times. The IPO price band was set at Rs 65-68 per share.

The Rs 44.68 crore IPO includes a fresh issue of 6.258 million shares totaling Rs 42.55 crore and an offer for sale of 0.312 million shares amounting to Rs 2.12 crore.

Proceeds from the IPO will be utilized for working capital requirements and general corporate purposes.

Established in 1985, Ambey Laboratories specializes in manufacturing agrochemical products for crop protection at its Rajasthan facility. The company is promoted by Archit Gupta, Arpit Gupta, Sarina Gupta, and Rishita Gupta.

Fast Track Finsec served as the sole book-running lead manager, and Link Intime India is the registrar for the issue.

(With inputs from agencies.)