90% IPO Listing Gain: Back-to-back UPPER CIRCUIT - Share price Rs 121
amkay products share price 90 per cent ipo listing gain: back-to-back upper circuit
Amkay Products Share Price: Amkay Products, a BSE SME stock, is hitting back-to-back upper circuit post listing. On Friday, its shares were again locked at the upper circuit of 5 per cent at Rs 120.96.
Amkay Products had issued its equity shares at Rs 55 apiece in the primary market. Its shares debuted on BSE SME platform on May Wednesday at Rs 104.50, delivering a strong listing gain of 90 per cent on each stock.
Since then, the stock is hitting back-to-back upper circuit. Going by analytics, Amkay Products shares have more than doubled investors money from the IPO issue price.
Amkay Products IPO had received robust subscription. Amkay Products IPO was completely a fresh equity issue of 22.9 lakh shares. The IPO was subscribed over 700 times.
Amkay Products IPO is a book built issue of Rs 12.61 crores. The company said that it will utilise net proceeds for funding capital expenditure, working capital requirements and other general corporate purposes.
Based out of Palghar, Maharashtra, 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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