Ami Organics shares surge 9% after board approves QIP

Ami Organics saw its shares jump nearly 9% after its board approved the opening of a qualified institutional placement (QIP) of equity shares. The floor price has been set at ₹1,228.71 per share.

The company’s board authorized and declared the opening of the issue on Tuesday, June 18, 2024. The floor price is at a 6.23% discount to the previous day’s closing price of ₹1,310.30 on the BSE. The company may offer a discount of up to 5% on the floor price for the issue.


A committee meeting is scheduled for Friday, January 21, 2024, to consider and approve the issue price of the equity shares.

Ami Organics, engaged in the business of drug intermediate chemicals and related activities, reported a 4.2% decline in consolidated net profit to ₹260 crore, despite a 20.7% increase in revenue from operations to ₹2,250 crore in Q4 FY24 over Q4 FY23.

As of 11:12 AM, the shares were trading 8.45% higher at ₹1,421.75 on the NSE.