AMKAY PRODUCTS IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

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AMKAY PRODUCTS Limited IPO GMP

Amkay Products Ltd is in the business of manufacturing and marketing quality medical products such as nebulizers, blood pressure monitors, air bed, adult diapers, hot water bags, face masks, alcohol swabs, blood lancet needles, HIV kits, bio bags, apron gowns, and many products to various hospitals, prestigious institutes, government bodies, pharmaceutical companies, distributors, and dealers widely spread across India.

Amkay Products is coming up with an IPO to raise funds from the public based on the Book Built Issue. The Issue Size of the IPO is ₹12.60 Crores comprising of entirely fresh issue of 22,92,000 equity shares. Amkay Products IPO opens on 30 May 2024 and closes on 03 May 2024 for the subscription.

Amkay Products IPO allotment is expected to be finalized on 06 May 2024. Amkay Products IPO will be listed on BSE SME for Commencement of trading of the Equity Shares on the Stock Exchange on 08 May 2024.

Amkay Products IPO issue price band is ₹ 52 to ₹ 55 Per Equity Share. The minimum lot size for an application is 2000 equity shares and the minimum amount of investment required to subscribe to Amkay Products IPO under the Retail Category ₹ 1,10,000. The minimum lot size for an application is 4000 equity shares and the minimum amount of investment required to subscribe to Amkay Products IPO under the HNI Category ₹ 2,20,000.

Refer to Amkay Products DRHP & RHP for more details about the company and the IPO.

The Company was founded in the year 2007 by one of our Promoters, Kashyap Pravin Mody, who has more than 20 years of experience in the associated industry. Later, in 2011, Hemanshu Kantilal Batavia joined the company as a Director who has an experience of more than 12 years in the said industry.

Objectives of Amkay Products IPO

Amkay Products intends to utilize the Proceeds of the Issue to meet the following objects:
1. Funding Capital Expenditure towards the installation of additional Machinery: ₹ 0.52 Crore
2. To meet working capital requirements: ₹ 8 Crore
3. General Corporate Purpose: ₹ 4.08 Crore

3 Litigations are filed by our Company which 1 is criminal proceedings and 4 Litigations are against the company from Income tax and GST departments for outstanding demand.