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%.
The offer received bids for 2.55 crore shares as against 65.42 lakh shares on offer.
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.
Ami Organics is one of the leading R&D driven manufacturers of speciality chemicals with varied end usage.
In the grey market, the premium for Ami Organic shares has double to Rs 122 per share compared to yesterday’s premium of Rs 60.
In the grey market shares of Vijaya Diagnostic Centre is quoting at a premium of Rs 10 or 1.88% while Ami Organics is at a premium of Rs 60 or 9.83%
The price band for Gujarat based company has been fixed at Rs 603-610 per share. Investors can bid for a minimum of 24 equity shares and in multiples.
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