Amanta Healthcare IPO Concludes with Phenomenal Demand: Subscription Soars Past 31x on Final Day!

Amanta Healthcare Limited's Initial Public Offering (IPO) has officially closed its bidding period, marking a significant milestone with an overwhelming investor response. As of its final day, the issue has been subscribed a remarkable over 31 times, showcasing robust confidence in the pharmaceutical company's future trajectory and market potential.

The IPO, which opened for subscription on May 10, 2024, and concluded today, May 14, 2024, aimed to raise approximately Rs 12.30 crore through the issuance of fresh equity shares.

The impressive subscription figures across all investor categories underscore the market's enthusiastic embrace of Amanta Healthcare's business model and its growth prospects within the dynamic healthcare sector.

A closer look at the subscription breakdown reveals fervent participation from various investor segments.

The Retail Individual Investors (RII) portion witnessed astounding demand, being subscribed over 35 times. Similarly, Non-Institutional Investors (NII) showed substantial interest, with their allocated portion booked more than 25 times. This strong collective interest propelled the overall subscription numbers to their impressive heights.

Amanta Healthcare had strategically set its IPO price band at Rs 50 to Rs 52 per equity share, each with a face value of Rs 10.

Investors were required to bid for a minimum of 2000 shares, or in multiples thereof, translating to a minimum application amount of Rs 104,000. This structure aimed to attract a wide range of investors, from individuals to high-net-worth entities.

Market watchers have been closely monitoring the Grey Market Premium (GMP) for Amanta Healthcare IPO, which has reportedly been hovering around Rs 30.

This unofficial indicator suggests a potential listing gain of approximately 57% over the upper issue price, further fueling the excitement among prospective investors. It is crucial to note that GMP is a speculative measure and does not guarantee actual listing performance.

Amanta Healthcare Ltd., a Gujarat-based pharmaceutical powerhouse, specializes in the manufacturing and marketing of sterile liquid and lyophilized products.

Its comprehensive product portfolio encompasses injectables, ophthalmics, and other advanced pharmaceutical formulations, serving both domestic and international markets. The capital garnered from this IPO is earmarked for critical working capital requirements and general corporate purposes, pivotal for its strategic expansion and operational optimization.

For those who participated, the anticipation now shifts to the post-bidding phase.

The finalization of allotment is tentatively scheduled for May 15, 2024. Following this, the initiation of refunds for non-allottees will commence on May 16, 2024, with shares being credited to the demat accounts of successful bidders by the same date. The much-anticipated listing of Amanta Healthcare shares on the BSE SME platform is slated for May 17, 2024, promising an exciting debut for this well-received offering.

The overwhelming success of Amanta Healthcare's IPO underscores the buoyant investor sentiment towards quality offerings in the Indian pharmaceutical sector.

All eyes will now be on its performance post-listing, as the company embarks on its journey as a publicly traded entity.