Ambey Labs listing: Shares debut with 25% gains today at Rs 85 on NSE SME

Ambey Labs listing today: Post listing, Ambey Labs shares were locked in the 5 per cent upper circuit at Rs 89.25 per share

SME IPO Ambey Laboratories listing today: Shares of SME company Ambey Laboratories listed at Rs 85 per share per share on Thursday, July 11, 2024. Ambey Labs, which listed on the NSE SME platform, delivered a listing gain of 25 per cent over the issue price of Rs 68 per share.

Post listing, Ambey Lab shares were locked in the 5 per cent upper circuit at Rs 89.25 per share as against the Nifty50's 0.24 per cent fall at 10:25 AM.

The initial public offering (IPO) of Ambey Laboratories had received an overwhelming response from investors. The IPO was subscribed more than 173.18 times on the final day of the offer led by institutional investors.

The initial share sale had received bids for 69,99,86,000 shares against 40,42,001 shares on offer, as per NSE SME data.

The category for non-institutional investors received 324.22 times the shares on offer, while the Retail Individual Investors (RIIs) quota was subscribed 195.06 times. The portion meant for Qualified Institutional Buyers (QIBs) received 61.90 times subscription.

Ambey Laboratories aimed to use the proceeds from the IPO to meet the working capital requirements of the business, while the remaining capital will be used for general corporate purposes.

Ambey Laboratories is an agrochemical products' company, manufacturing products for crop protection at its manufacturing facility in Rajasthan. The company is promoted by Archit Gupta, Arpit Gupta, Sarina Gupta, and Rishita Gupta.

The company's listed peers, according to the red herring prospectus (RHP), are Meghmani Organics Ltd. (P/E of 63.21x) and Atul Ltd. (P/E of 46.90x).

Ahead of the listing of the SME company, the grey market premium (GMP) of the IPO stood at Rs 25 per share till July 10, 2024.