Ami Organics Ltd has filed a draft red herring prospectus with Securities Exchange Board of India to raise funds via initial public offering. The issue comprises a fresh issue of ₹300 crore and an offer for sale of upto 6.06 million shares by its existing promoters and shareholders. The firm in its DRHP said that it is in consultation with its book-running managers for pre-IPO placement of upto ₹100 crore. The proceeds from the issue will be used for repayment of financial facilities of upto ₹140 crore. For the fiscal year 2021, the company reported a revenue of ₹340.61 crore versus ₹239.64 crore a year ago.

Source: Mint June 05, 2021 14:48 UTC