At Rs 910 Ami Organics implies a valuation of 59.58 times P/E while its peers Aarti Industries and Hikal are trading at a P/E of 55.53 and 47.5 times.
On the BSE, Ami Organics opened at Rs 902, at a premium of Rs 292 or 47.87%.
Shares of Ami Organics will debut on the bourses today, 14 September 2021. The offer price is Rs 610 per equity share.
QIBs category was subscribed 86.64 times, non-institutional investors 154.81 times and retail individual investors got 13.36 times.
Ami Organics seems to have an upper hand over Vijaya Diagnostic in terms of listing expectations.
Ami Organics IPO: We suggest short term investors to book profit on listing day if they receive the allotment," said Yash Gupta of of Angel Broking.
Ami Organics IPO was subscribed 1.54 times as investors placed bids for 1,00,99,176 shares compared to 65,42,342 shares on the block.
Vinit Bolinjkar of Ventura Securities, said it might look optically expensive in terms of valuations, but the margins are the best among its peers.
After raising Rs 100 crore in a pre-IPO placement, the company has reduced its fresh issue size to Rs 200 crore from Rs 300 crore