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Vijaya Diagnostic IPO subscribed 0.5x, Ami Organics 5x on Day-2

Ami Organics’ initial public offering (IPO) was subscribed nearly 5 times, while that of Vijaya Diagnostic was half covered on Thursday. Both IPOs close on Friday. Ami is a specialty chemicals firm focused on the pharma industry. Its IPO comprises Rs 200-crore fresh fund raise and Rs 370-crore secondary share sale. The price band for its IPO is Rs 603-610 per share. At the top-end the company will have a market cap of Rs 2,223 crore and is valued at 41.2 times its FY21 earnings. Vijaya Diagnostic is among the largest diagnostic chains in southern India. Its IPO is entirely a secondary share sale worth Rs 1,894 crore. Vijaya’s price band is Rs 522 to 531 per share. At the top-end, the company will have a market cap of Rs 5,414 crore and will be valued at 63.8 times its FY21 earnings. Business Standard