Amkay Products IPO Listing
Amkay Products IPO Listing: Amkay Products' ₹12.61 crore IPO was open for subscription from April 30 to May 3. Today its shares have been listed on BSE SME.
Amkay Products IPO Listing: Shares of Amkay Products, a manufacturer of medical disposables and devices like masks and pulse oximeters, had a successful entry on the SME platform of BSE today.
Its IPO received overall bids of more than 748 times. Under the IPO, shares have been issued at a price of Rs 55. Today it has entered BSE SME at Rs 104.50, which means IPO investors got 90 percent listing gain (Amkay Products Listing Gain).
After listing the shares went up further. It jumped and reached the upper circuit of Rs 109.72 (Amkay Products Share Price) and closed at the same i.e.
IPO investors are now in 99.49 percent profit i.e. the investors' money has almost doubled.
Amkay Products IPO got strong response
MK Products' ₹12.61 crore IPO was open for subscription from April 30 to May 3. This IPO received a tremendous response from investors and overall it was subscribed 748.03 times.
In this, the portion reserved for Qualified Institutional Buyers (QIB) was filled 173.04 times, the portion for Non-Institutional Investors (NII) was 987.34 times and the portion for retail investors was filled 973.14 times. Under this IPO, 22.92 lakh new shares with face value of Rs 10 have been issued.
The company will use the money raised through these shares to install new machinery, meet working capital requirements and for general corporate purposes.
MK Products was started in October 2007. It manufactures and sells healthcare products like medical devices, disposables, face masks, alcohol swabs, lancet needles, nebulizers, pulse oximeters, surgeon caps. It has two manufacturing units in Thane and a warehouse in Thane itself.
Talking about the financial health of the company, it had made a net profit of Rs 3.13 crore in the financial year 2021, which fell sharply to Rs 1.47 crore in the next financial year 2022.
However, then the situation improved and in the financial year 2023 it made a net profit of Rs 1.51 crore. Talking about the last financial year 2023-24, it has made a net profit of Rs 2.15 crore in April-December 2023.