AMI Organics stock surges 3% after board agrees to raise ₹500 crore via QIP

Speciality chemicals producer AMI Organics ‘ share price rose nearly 3% after being informed that its Board had agreed to raise funds of up to ₹500 crore via a Qualified Institutional Placement. The announcement concerning this decision was disclosed via a stock exchange filing on Friday, April 12.

The approved proposal outlines AMI Organics’ aim to raise an aggregate amount not exceeding ₹500 crore through the issuance of equity shares with a face value of ₹10 each, or other convertible instruments such as fully convertible debentures, preference shares, or any security convertible into equity shares.

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This fundraising initiative will be executed in compliance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, and other relevant laws.

As of 11:11 am, AMI Organics’ shares were trading 2.70% higher at ₹1,253.75 on the National Stock Exchange (NSE).