Amkay Products Limited is going public with its IPO which is set to open on 30 April 2024. The company plans to raise ₹12.61 crore from the upcoming IPO. Interested investors can read the article to collect all the details of Amkay Products Limited’s IPO.
Amkay Products Limited IPO
Amkay Products Limited engages in the business of medical devices & products across India. The company will open its IPO for bidding on 30 April 2024. The Amkay Products Limited IPO will close for bidding on 3 May 2024.
According to the IPS prospectus, the allotment of the shares after the Amkay Products Limited IPO will commence on 6 May 2024. The refund initiation of the subscribed shares that did not get allotted will begin on 7 May 2024.
Amkay Products Limited plans to list the shares after the IPO issue on BSE SME on 8 May 2024. Investors can mark these Amkay Products Limited IPO dates into their calendar:
| Date | Amkay Products Limited IPO Events |
| 30 April 2024 | IPO Opens |
| 03 May 2024 | IPO closes |
| 06 May 2024 | Allotment of IPO |
| 07 May 2024 | Refund Initiation |
| 08 May 2024 | Listing Date |
| 03 May 2024 | UPI Mandate Confirmation |
Amkay Products Limited IPO Details
Amkay Products Limited’s IPO issue will be book-built. Amkay Products Limited aims to utilize the funds gained through IPO in funding the installation of additional machinery and equipment, fulfilling the working capital requirements, and general corporate purposes.
The IPO issue is a fresh issue of 22,92,000 equity shares that match up to ₹12.61 crore. The floor price or price band of the Amkay Products IPO is fixed at ₹52 to ₹55 per equity share with a face value of ₹10 per equity share.
The minimum lot market size for bidding for the Amkay Products Limited IPO is 2000 shares.
The registrar of the Amkay Products Limited IPO issue is Bigshare Services Private Limited and the book-running lead manager decided for the IPO issue is Hem Securities Limited.
The market maker of Amkay Products Limited, Hem Finlease holds 120,000 shares (5%) of IPO issue shares.
The promoters of the company Himanshu Kantilal Batavia and Kashyap Pravin Mody hold 99.89% of the shares pre-issue which will be diluted to 73.44% after the IPO issue.
| Company | Amkay Products Limited |
| IPO Type | Book-built Issue |
| IPO issue Size | 2,292,000 equity shares (matches up to ₹12.61 Crore) |
| Face Value | ₹10 per equity share |
| Price Band | ₹52 to ₹55 per equity share |
| Lot Size | 2000 |
| Fresh Issue | 2,292,000 equity shares (matches up to ₹12.61 Crore) |
| OFS | Nil |
| Listing at | BSE SME |
| Market Maker Shares | 5.0% (120,000 shares) |
Amkay Products Limited IPO Reservation & Lot Size
The company has reserved the net shares offered to certain investor categories for the IPO. The distribution of shares of the net issue among the different investor categories is shown below:
| Investor Category | Shares Offered |
| Qualified Institutional Buyers (QIB) | Does not exceed 50% of the net issue |
| Retails | Not less than 35% |
| Non-Institutional Investors (HNI) | Not less than 15% of the offered shares |
The minimum lot size for the Amkay Product Limited IPO is 2000 shares, which are multiples of lots. The retail investor would need a minimal investment of ₹110,000 to bid for the Amkay Products Limited IPO. The investors can check the minimum and maximum investment amount as per their application:
| Investor Category | Lots | Shares | Amount |
| Retail (min.) | 1 | 2000 | ₹110,000 |
| Retail (max.) | 1 | 2000 | ₹110,000 |
| HNI (min.) | 2 | 4000 | ₹220,000 |
Amkay Products Limited IPO GMP
As the IPO bidding date is tomorrow, the grey market premium price of Amkay Product Limited is updated, let’s see the GMP trend of the Amkay Product IPO in the unofficial market. According to the latest trends, the floor price of the IPO is ₹55 and the estimated listing price is ₹80 with the expected percentage of 45.45% loss/gain shares.
Here’s the Day-wise Amkay Products Limited IPO GMP trend:
| GMP date | IPO price | GMP | Subject to Sauda | Estimated Listing Price |
| 29 April 2024 | 55 | ₹25 | 38,000 | ₹80 |
| 28 April 2024 | 55 | ₹25 | 38,000 | ₹80 |
| 27 April 2024 | 55 | ₹25 ↑ | 38,000 | ₹80 |
The GMP trends show an upward trend, so we could expect a strong listing of AMkay Products Limited’s IPO. However, you should look into other aspects of Amkay Products Limited before making your investment decision.
Amkay Products Limited’s revenue has decreased by -23.22% and PAT hiked by 2.94% between the FY 31 March 2023 and 31 March 2022. The company engages in a highly segmented and competitive market, so you can apply if you find the investment worth your time and money.