Amy Organics is a pharmaceutical company that has created history. It has joined the club of Zomato and Burger King. However, in three days, its stock has given a profit of twice the issue price.
Amy Organics sold shares in the IPO for Rs 610. On September 1, its release opened and closed on September 3. The listing was 48% higher than the release rate of Rs 902. Also, the stock was twice as high as the release price in three days. Its stock closed 14% higher at Rs 1,280 on the BSE on Thursday. However, during the day it rose to Rs 1,345.
Earlier a similar trend has been seen in Burger King and Zomato shares. Burger King was counted on December 16 last year. Its stock had tripled in three days. Its release amounted to 60 rupees. Rated at Rs 115. The stock rose to Rs 140 on the day of the listing. The stock closed at Rs 199 on the third day. It rose to Rs 219 on the fourth day of the listing.
Zomato stock was calculated in July this year. The price of its shares in the issue was Rs 76 and listed at Rs 115. The stock went up to Rs 145 on the second day. That is, investors have doubled the profit compared to the price of the release. The IRCTC allocation has also increased in a similar way. Its IPO reached Rs 320. The listing was done on 14 October 2019 at Rs 626. Its stock then exceeded Rs 700 on the third day. Currently, the stock sells 12 times that of Rs 3,772.
Avenue Super Mart, the company that owns DMart, was listed in 2017. The allocation of Rs 299 was calculated at Rs 604. The stock closed at Rs 634 on the third day. This, in turn, has made investors richer in three days. However, The stock is currently trading at Rs 4,094.
Amy Organics received 42.22 crore share bids compared to the release size of 65.42 lakh shares. The company also conducts research and development of specialized chemicals and related products. The company also exports pharma mediators to international companies in markets such as Europe, China, Japan, Israel, USA, UK. In the last financial year, Amy Organics' revenue had increased to Rs 340.61 crore. Total profits increased from Rs 27.47 crore to Rs 53.99 crore.
