Ami Organics Has Given New Life to IPOs with 85% Gain in 2 Days

  • Stock Market News
Ami Organics Has Given New Life to IPOs with 85% Gain in 2 Days

By Aditya Raghunath -- August was a bad month for IPOs. Seven out of 10 companies that debuted in the markets in August failed and were trading below their issue prices at the end of August 2021.

AMI Organics Ltd (NS: AMIO ), a specialty chemicals maker listed on the exchanges on September 14 with an issue price of Rs 610. It closed day one at Rs 934.5, a gain of over 53% over its issue price. Today, on September 15, it closed at Rs 1,122, up 20%. That’s a total gain of 84% in two days.

Market analysts say that there could be more upside to the stock. It is estimated that it could hit a high of Rs 1,250 – Rs 1,280 levels. Vikas Jain of Reliance (NS: RELI ) Securities told Economic Times, “Investors should completely book profit at these levels and wait for broader market correction to re-enter the counter.”

Another option for long-term investors is to take out the capital cost of the shares and remain invested in the stock.

Ami Organics manufactures advanced pharmaceutical intermediates used in select therapeutic areas such as anti-retroviral, anti-inflammatory, antipsychotic, anti-cancer, anti-Parkinson, antidepressant and anti-coagulant.

Ami Organics has broken the stranglehold on IPOs in the Indian market. Could this be the start of another bull run for IPOs? Sansera Engineering which has been subscribed 92% on day two could provide further answers.

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