Amkay Products, established on October 25, 2007, specialises in manufacturing, assembling, and marketing a diverse range of medical devices, disposables, and healthcare products. Its portfolio includes items such as face masks, alcohol swabs, lancet needles, nebulizers, pulse oximeters, surgeon caps, and more. These products are widely used by healthcare centers, hospitals, clinics, nursing homes, and other medical facilities throughout India. Additionally, the company is involved in branding and marketing certain products like diapers, plastic gloves, suction machines, and others.
| Bidding Dates |
|---|
| 30 Apr 2024 - 03 May 2024 |
| Subscription |
|---|
| 693.44x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,04,000 | 1 | 1 | 2000 | 2.3 M | ₹52 - ₹55 | 73.44 % | ₹119.2 M - ₹126.1 M | RHP DOC |
Amkay Products IPO SUBSCRIPTION STATUS
03 May '24Amkay Products IPO overall subscription rate was 693.44 times the total available shares
Amkay Products IPO retail subscription rate was 973.14 times in the retail segment
Amkay Products IPO non-institutional investor subscription rate was 721.96 times in the non-institutional investor category
Amkay Products IPO Qualified Institutional Bidder subscription rate was 173.04 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
03 May 2024 (Day 3) | 973.14x | 721.96x | 173.04x |
02 May 2024 (Day 2) | 331.82x | 158.42x | 0.79x |
30 Apr 2024 (Day 1) | 54.14x | 27.48x | 0.06x |
Amkay Products FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 9MFY24 | 21.5 | 227.5 | 4.0 | -3.1 | 11.1% |
| FY23 | 15.1 | 278.6 | 9.8 | 9.5 | 11.2% |
| FY22 | 14.7 | 365.0 | -2.5 | -24.0 | 7.3% |
| FY21 | 31.3 | 407.0 | 33.8 | 21.8 | 11.3% |
Amkay Products IPO SUBSCRIPTION STATUS DETAILS
Amkay Products had 2.3 M shares on offer
Amkay Products IPO offer price was in the range ₹52 - ₹55
Amkay Products IPO minimum Investment was ₹104000
Amkay Products IPO issue size was ₹ 119.2 M - ₹ 126.1 M
Amkay Products had a minimum lot size of 2000 Shares per application
Amkay Products NUMBER OF SHARES ON OFFER
Amkay Products IPO IMPORTANT DATES
| Issue Open Date | 30 Apr 2024 |
| Issue close Date | 03 May 2024 |
| Allotment Date | 06 May 2024 |
| Refund Date | 07 May 2024 |
| Demat Account Credit Date | 07 May 2024 |
| Listing Date | 08 May 2024 |
| Listing on Exchange(s) | BSE |
| Amkay Products Allotment Status | Exchange |
Amkay Products IPO subscription opened on 30 Apr 2024, and closed on 03 May 2024
IPO allotment for Amkay Products was finalized on Monday, 06 May 2024
IPO listing for Amkay Products was on BSE on Wednesday, 08 May 2024
Amkay Products IPO LISTING GAINS
| Issue Price (adjusted) | 55.0 |
| Listing Open Price | 104.5 |
| Listing Close Price | 109.7 |
| Listing Gain% | 90.0% |
| Current Gain% | -12.8% |
Amkay Products Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Amkay Products Ltd. | 48 | 41.5 | 18 | -0.6 | 1 | 8.8 | 6.9 | 42.7 | 7.5 | 2.3 | -30.8 | 2.7 | -30.8 |
| Poly Medicure Ltd. | 1693.8 | 17168.3 | 54.5 | -4.6 | 8.6 | 10.4 | 8.2 | 1995.3 | 13.4 | 322.1 | -4.8 | 31.1 | -11.9 |
| Medplus Health Services Ltd. | 700.2 | 8412.6 | 40 | 2.2 | 1.2 | 11.1 | 5.6 | 6963.8 | 12.6 | 219.6 | 46.1 | 17.5 | 18 |
| Q-Line Biotech Ltd. | 538.7 | 1256.7 | 22.6 | 22.6 | 10 | 347.4 | 7.7 | 55.7 | 98.1 | 23.9 | |||
| Laxmi Dental Ltd. | 216.1 | 1187.6 | 41 | -4.7 | 4.3 | 11.9 | 9.8 | 286.4 | 18.1 | 29 | -8.8 | 5.3 | -8.8 |
| Vasa Denticity Ltd. | 408.6 | 679.1 | 68.5 | -2.2 | 2.3 | 5.7 | 5 | 283.4 | 12.8 | 9.9 | -41.6 | 6 | -31.3 |
Amkay Products INFORMATION ON IPO ISSUE
About Amkay Products
Amkay Products, established on October 25, 2007, specialises in manufacturing, assembling, and marketing a diverse range of medical devices, disposables, and healthcare products. Its portfolio includes items such as face masks, alcohol swabs, lancet needles, nebulizers, pulse oximeters, surgeon caps, and more. These products are widely used by healthcare centers, hospitals, clinics, nursing homes, and other medical facilities throughout India. Additionally, the company is involved in branding and marketing certain products like diapers, plastic gloves, suction machines, and others.
Object of the Issue
- Funding capital expenditure towards installation of additional machinery
- To meet working capital requirements
- General corporate purpose
Amkay Products - PROMOTERS
| Name |
|---|
| Kashyap Pravin Mody |
| Hemanshu Kantilal Batavia |
Amkay Products Lead Manager of the Issue
Hem Securities Limited
ib@hemsecurities.com
Amkay Products Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Amkay Products Strengths
Strong product portfolio
The company boasts a diverse product portfolio spanning various segments of medical devices and disposables. It caters to respiratory diseases, offers home healthcare products, and provides surgical disposables to meet the varied requirements of its customers
Extensive network
The company sells its range of offerings through an extensive network covering India. It collaborates with various dealers selected based on factors such as their geographical coverage, market expertise, product familiarity, and understanding of the healthcare sector
Quality assurance
The company has achieved ISO 9001:2015 certification for its Quality Management System from QRO Certification LLP. Additionally, the majority of its products hold CE certification from UK Certification & Inspection, underscoring their adherence to quality standards
Amkay Products Risks
Depends on third parties manufacturers
The company relies on third-party manufacturers for the production of certain products. Any disruptions or inability on their part to manufacture these products could have adverse effects on the company's operations and business
Dependent on few customers
The company's revenue is significantly reliant on a few customers, and there are no firm commitments in place with them. The potential loss of these key customers could have a material and adverse impact on the company's business
Legal proceedings
The company is currently engaged in legal proceedings, and an unfavorable outcome in these cases could significantly impact its business operations
IPO FAQs
The promoters of the company are Kashyap Pravin Mody and Hemanshu Kantilal Batavia.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 52.0 - 55.0.
The IPO application opens on Apr 30, 2024 and closes on May 03, 2024.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 104,000.0, the maximum value for this IPO is Rs 110,000.0.
This IPO will be allotted on May 06, 2024.
The refund will be credited to your account on May 07, 2024.
The allotted shares will be credited to your demat on May 07, 2024.
Amkay Products Ltd.’s shares listed on the stock exchanges on May 08, 2024.