Amkay Products IPO will open for subscription from 30 April 2024. The company aims for an issue size of ₹12.61 Cr through this IPO.
Company Overview
| Full name | Amkay Products Limited |
| Sector | Healthcare |
| Industry | Medical Equipment/Supplies/Accessories |
| Company Website | https://amkayproducts.com/ |
About Company
Incorporated in 2007, the company manufactures, assembles, and markets a wide range of medical devices, disposables, and other healthcare products such as face masks, alcohol swabs, lancet needles, nebulizers, pulse oximeters, surgeon caps, and more. These products are used in healthcare centers, hospitals, clinics, nursing homes, and other facilities throughout India. Additionally, Amkay Products is involved in branding and marketing other items such as diapers, plastic gloves, and suction machines.
The company’s product portfolio includes over 30 products encompassing respiratory disease-related medical devices, surgical disposables, home healthcare products, and other healthcare items. Currently, the company manufactures more than 20 products and is involved in the branding and trading of over 10 additional products. Last year, Amkay began selling its products online through e-commerce platforms such as Flipkart, Amazon, Medika Bazar, and Netmed. For the period ending 31 December 2023, and fiscal year 2022-23, the company generated total online sales of INR 1.86 lakh and INR 3.99 lakh, respectively, through these e-commerce platforms.
The company operates two manufacturing units and a warehouse located in Thane, Maharashtra. Amkay exports a small portion of its products to countries such as Bhutan, Nepal, and Qatar. As of 31 December 2023, the company employs approximately 75 employees at various levels within the organization.
The Objectives of the Issue
- Funding Capital Expenditure towards the installation of additional Machinery;
- To meet working capital requirements; and
- General Corporate Purpose.
Amkay Products IPO Timetable
| IPO Opening date | 30 April 2024 |
| IPO Closing | 03 May 2024 |
| Basis of Allotment | 06 May 2024 |
| Initiation Refund | 07 May 2024 |
| Credit to Demat Account | 07 May 2024 |
| Listing Date | 08 May 2024 |
Amkay Products IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹12.61 Cr – 2,292,000 shares |
| Fresh Issue | ₹12.61 Cr – 2,292,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹52 to ₹55 per share |
| Lot size | 2000 Shares |
| Market Maker portion | 120,000 shares |
| Shareholding pre-issue | 6,363,640 |
| Shareholding post-issue | 8,655,640 |
| Listing Exchange | BSE SME |
Amkay Products IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹110,000 |
| Retail (Max) | 1 | 2000 | ₹110,000 |
| HNI (Min) | 2 | 4,000 | ₹220,000 |
Amkay Products IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 650,000 (28.36%) |
| Market Maker Shares Offered | 120,000 (5.24%) |
| QIB Shares Offered | 434,000 (18.94%) |
| NII (HNI) Shares Offered | 326,000 (14.22%) |
| Retail Shares Offered | 762,000 (33.25%) |
| Total Shares Offered | 2,292,000 (100%) |
Amkay Products Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 9M FY 2024 | |
| Revenue | 40.70 | 36.50 | 27.86 | 22.75 |
| Expenses | 36.54 | 34.76 | 25.91 | 21.10 |
| Net income | 3.13 | 1.47 | 1.51 | 2.15 |
Amkay Products Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 4.91 | 2.31 | 2.37 |
| PE ratio | – | – | 21.94 – 23.21 |
| RONW (%) | 65.98 | 23.64 | 19.57 |
| NAV | 7.45 | 9.75 | 12.13 |
| ROCE (%) | 70.79 | 22.88 | 22.61 |
| EBITDA (%) | 11.25 | 7.28 | 11.20 |
| Debt/Equity | 0.29 | 0.70 | 0.61 |
Company Promoters
- Kashyap Pravin Mody
- Himanshu Kantilal Batavia.
Promoter Holding
| Pre Issue Share Holding | 99.89% |
| Post Issue Share Holding | 73.44% |
Amkay Products IPO Lead Manager(s)
HEM SECURITIES LIMITED
904, A Wing, Naman Midtown, Senapati Bapat Marg,
Elphinstone Road, Lower Parel, Mumbai-400013, India
Phone: +91- 022- 49060000
Email: ib@hemsecurities.com
Website: www.hemsecurities.com
Amkay Products Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Amkay Products Contact Details
AMKAY PRODUCTS LIMITED
Bungalow No. 68, Rashmi Park, CHS Ltd., Dhumal Nagar,
Waliv Road, Vasai, Thane 401208, Maharashtra
Phone: +91-9152094440
E-mail: cs@amkayproducts.com
Website: www.amkayproducts.com
Amkay Products IPO Allotment Status
Amkay Products IPO allotment status is now available on Bigshare Services’ website. Click on this link to get allotment status.
Final thoughts
Amkay Products IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
