There is an opportunity to bid in another IPO in the market. Ambe Laboratories Limited, which manufactures agro-chemicals, is giving this opportunity to investors. The company has also decided the price band for its IPO. Ambe Laboratories said in a statement that the company has fixed the price range of the IPO at Rs 65-68 per share. According to the news of Bhasha, applications for bidding for the IPO can be made from July 4. The public issue will close on July 8. The allotment of shares is expected to be finalized on July 9. The company’s shares will be listed on NSE SME Emerge on July 11.
Amount expected to be up to ₹44.68 crore
According to the report, Ambe Laboratories said that at the upper limit of the price range, the IPO is expected to raise up to Rs 44.68 crore. The IPO consists of a fresh issue of 62.58 lakh equity shares up to Rs 42.55 crore and an offer for sale of 3.12 lakh shares totalling Rs 2.12 crore by shareholder Sarina Gupta. The company will use the proceeds from the issue to meet the working capital needs of the business, while the remaining capital will be used for general corporate purposes.
What is the minimum amount you can bid
Ambe Laboratories said that investors can bid in a minimum of 2,000 shares and its multiples. Accordingly, retail investors will have to invest a minimum of Rs 1,36,000. Ambe Laboratories, formed in the year 1985, manufactures agrochemical products for crop protection at its manufacturing facility in Rajasthan. This IPO is reserved 35 percent for retail investors, 50 percent for QIBs and 15 percent for NIIs. The book running lead manager of Ambe Laboratories IPO is Fast Track Finsec Pvt Ltd. Link Intime India is the registrar of this issue.
