Amkay Products debuts with 90% premium on BSE SME platform
Amkay Products debuts with 90% premium on BSE SME platform
The shares of Amkay Products listed on the BSE SME platform with a premium of 90% on Wednesday. The stock debuted at Rs 104.5 as against an issue price of Rs 49.5.
Ahead of the listing, the company's shares traded with a premium of Rs 55 in the unlisted market.
The IPO, which was completely a fresh equity issue of 22.9 lakh shares, received massive response from investors with an overall subscription of over 700 times at close.
The net proceeds from the public offer will be used for funding capital expenditure, working capital requirements and other general corporate purposes.
The company manufactures, assembles and markets a comprehensive portfolio of medical devices, disposables and other healthcare products like face masks, alcohol swabs, lancet needles, nebulizers, pulse oximeters, surgeon caps etc.
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In addition, it is also engaged in branding and marketing of some of the products like diapers, plastic gloves, suction machines among others.
Amkay Products started its operations in 2008 with manufacturing and supply of one product in a manufacturing unit taken on rent at Vasai in Mumbai. Over the years, more products were added to its portfolio and for further expansion, the company shifted to bigger manufacturing units.
The company’s boasts of over 30 products in its portfolio including respiratory disease related medical devices, surgical disposables and home
