25-Apr-2024
2 mins read
Amkay Products IPO is open for subscription starting Tuesday, April 30, 2024, and closing on Friday, May 3, 2024. The price band of this upcoming IPO is decided at Rs 52 to Rs 55 per share. The minimum lot size of this application for the retail category is 2000 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 4000 shares. The minimum investment required for retail category investors is Rs 1,10,000 (55 x 2000 shares). However, for the HNI category, the minimum investment amount required is Rs 2,20,000 (55 x 4000 shares). Amkay Products IPO is a fixed price issue of Rs 12.61 crores. This upcoming IPO is a fresh issue of 22.92 lakh equity shares. The offer-for-sale component is not available on this issue. The allotment for this new IPO is expected to be finalised on Monday, May 6, 2024. Amkay Products IPO will be listed on BSE SME, and the listing date is fixed on Tuesday, May 8, 2024. The book-running lead manager of Amkay Products IPO is Hem Securities Limited. The registrar for this IPO is Bigshare Services Limited.
About Amkay Products Limited
Amkay Products Limited incorporated in October 2007, it produces and sells a wide range of healthcare products. The products include medical devices, disposals and other essential items such as face marks, alcohol swabs, lancet needles, pulse oximeters, surgeon caps and more. Healthcare centres, hospital clinics, nursing homes and other such facilities across India use Amkay Products. The company also manufactures diapers, plastic gloves and suction machines. The company offers 30 healthcare products including medical devices for respiratory diseases, surgical disposals, home healthcare products and others. The manufacturing facility occupies an area of about 26,000 sq. feet. Their manufacturing facility is fully equipped with machines, testing labs and other useful equipment. Amkay Products has 2 manufacturing units, one is situated in Thane, Maharashtra and warehouse is also situated in Maharashtra. As of December 31, 2023 the company had a team of 75 employees across different levels of the organisations.
Objectives of Amkay Products Limited
The funds received from this IPO will be used to fund the capital expenditure for purchasing new machinery. Additionally, to meet the working capital requirements. Moreover, the general corporate purposes are also met.
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Financials of Amkay Products Limited (Amt in Rs Lakhs)
Amkay Products posted a revenue of Rs 2,385.56 lakhs and net profit of Rs 215.34 lakhs for the period ending on 31 December 2023. The company’s revenue decreased by -23.22% and PAT increased by 2.94% between the FY ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31-Dec-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 1,887.52 | 1,563.77 | 1,580.64 | 1,393.47 |
| Revenue | 2,385.56 | 2,825.05 | 3,679.45 | 4,071.74 |
| Profit After Tax | 215.34 | 151.02 | 146.71 | 312.68 |
| Net Worth | 986.96 | 771.62 | 620.6 | 473.9 |
| Reserves and Surplus | 350.59 | 743.95 | 592.93 | 446.23 |
| Total Borrowing | 476.22 | 469.98 | 433.59 | 136.54 |
Other Important Details of Amkay Products IPO
| IPO Date | April 30, 2024 to May 3, 2024 |
| Listing Date | 8-May-24 |
| Face Value | Rs 10 per share |
| Price Band | Rs 52 to Rs 55 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 2,292,000 shares amounting to Rs 12.61 crore |
| Fresh Issue | 2,292,000 shares amounting to Rs 12.61 crore |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Shareholding pre issue | 6,363,640 |
| Shareholding post issue | 8,655,640 |
| Market Maker portion | 120,000 shares |
Time-Table of Amkay Products IPO
| IPO Open Date | Tuesday, April 30, 2024 |
| IPO Close Date | Friday, May 3, 2024 |
| Basis of Allotment | Monday, May 6, 2024 |
| Initiation of Refunds | Tuesday, May 7, 2024 |
| Credit of Shares to Demat | Tuesday, May 7, 2024 |
| Listing Date | Wednesday, May 8, 2024 |
| Cut-off time for UPI mandate | 5 PM on May 3, 2024 |
Lot Size of Amkay Products IPO
| Application | Lots | Shares | Amount |
| Retail - minimum | 1 | 2,000 | Rs 110,000 |
| Retail - maximum | 1 | 2,000 | Rs 110,000 |
| HNI - minimum | 2 | 4,000 | Rs 220,000 |
IPO Reservation of Amkay Products Limited
| Investor Category | Shares Offered |
| QIB Shares | Not more than 50 percent of the Issue |
| Retail Shares | Not less than 35 percent of the Issue |
| NII (HNI) Shares | Not less than 15 percent of the Issue |
Key Performance Indicator of Amkay Products Limited IPO
| KPI | Values |
| ROE | 24.49% |
| ROCE | 21.54% |
| Debt/Equity | 0.48 |
| RoNW | 21.82% |
| P/BV | 3.55 |
| PAT Margin | 9.47 |
EPS and P/E Ratio Post IPO
| Pre IPO | Post IPO | |
| EPS (Rs) | 2.37 | 3.32 |
| P/E | 23.18 | 16.58 |
Promoters of Amkay Products Limited and Their Holdings
The promoters of Amkay Products company are Kashyap Pravin Mody and Himanshu Kantilal Batavia.
| Shareholding Pre Issue | 99.89 percent |
| Shareholding Post Issue | - |
Lead Manager(s) of Amkay Products IPO
The lead manager for Amkay Products IPO is Hem Securities Limited.
How do you apply for the Amkay Products IPO?
Wait for the public issue to open for subscription, then click here to apply for the Amkay Products Limited IPO with Bigul.
How do you check the allotment status of Amkay Products IPO?
The registrar for Amkay Products IPO is Bigshare Services Private Limited. To check your allotment status, please click here.
FAQs
1. What is the Amkay Products IPO?
Amkay Products IPO is a fixed price issue of Rs 12.61 crores. This upcoming IPO is a fresh issue of 22.92 lakh equity shares. The offer-for-sale component is not available on this issue. The allotment for this new IPO is expected to be finalised on Monday, May 6, 2024.
2. Who are the lead managers for the Amkay Products Limited IPO?
Hem Securities Limited is appointed as the lead manager for the IPO.
3. What is the role of Bigshare Services Private Limited in this IPO?
Bigshare Services Private Limited is the registrar for Amkay Products Limited, handling the IPO's administrative aspects.
4. How can I apply for the Amkay Products IPO?
The public subscription of this new IPO will open on April 30, 2024. Click here to initiate the application process.
5. How will the net proceeds from the IPO be utilised?
The funds received from this IPO will be used to fund the capital expenditure for purchasing new machinery. Additionally, to meet the working capital requirements. Moreover, the general corporate purposes are also met.
6. How can I check the allotment status of the IPO?
Investors who applied can check the allotment status of the Amkay Products Limited IPO by visiting here. For further updates follow Bigul.
7. What is the financial performance of Amkay Products Limited?
Amkay Products posted a revenue of Rs 2,385.56 lakhs and net profit of Rs 215.34 lakhs for the period ending on 31 December 2023. The company’s revenue decreased by -23.22% and PAT increased by 2.94% between the FY ending with March 31, 2023 and March 31, 2022.
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