Amkay Products IPO: Open/Close Date, Price, Lot Size, Allotment & Subscription

IPO Details

Bidding Dates

30 Apr '24 - 03 May '24

Minimum Investment

₹1,10,000 / 1 Lots ( 2000 Shares )

Price Range

₹52 - ₹55

Maximum Investment

₹1,10,000 / 1 Lots ( 2000 Shares )

Retail Discount

Not Applicable

Issue Size

₹12.61 Cr

Investor category and sub category

Retail Individual Investors | Qualified Institutional Bidders | Non-Institutional Bidders |

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

Apr 30, 2024

Closing Date

May 3, 2024

Basis of Allotment

May 6, 2024

Initiation of Refunds

May 7, 2024

Credit of Shares to Demat

May 7, 2024

Listing Date

May 8, 2024

Cut-off time for UPI mandate confirmation

May 3, 2024

About Amkay Products Limited

Incorporated in 2007, Amkay Products Limited manufactures, assembles & markets a comprehensive portfolio of medical devices, disposables and other Healthcare Products like Face Mask, Alcohol Swabs, Lancet Needles, Nebulizer, Pulse Oximeter, surgeon caps etc., used by healthcare centres, hospitals/clinics, nursing homes etc. widely spread across India.

The company’s product portfolio comprises more than 30 products including Respiratory Disease Related Medical Devices, Surgical Disposables, Home Healthcare Products and Other Healthcare Products. Amkay is currently manufacturing over 20 products, along with Branding & trading over 10 products.

Covering around 26,000 square feet, the production facility is outfitted with all the necessary machinery, a testing lab, and handling equipment to guarantee a seamless procedure. Additionally, QRO Certification LLP has granted the organisation accreditation for its quality management system under the ISO 9001:2015 standard. The company is located in Thane, Maharashtra, and has two production units as well as a warehouse there.

Industry Outlook

The global economic growth is forecasted at 3.1 percent in 2024 and 3.2 percent in 2025, slightly higher than the previous projections. Inflation is expected to decrease, with global headline inflation projected to fall to 5.8 percent in 2024 and 4.4 percent in 2025, reflecting favourable supply developments and restrictive monetary policies. With global economic growth forecasted to improve, Amkay Products can explore expanding its market presence internationally, especially in regions experiencing resilient growth.
The robust coverage, services, and rising spending by both public and private entities are driving the rapid growth of the Indian healthcare system. The Indian healthcare market is expected to grow from its 2016 valuation of US$ 86 billion to US$ 367 billion by 2023 and US$ 638 billion by 2025. Amkay can strategically plan its operations and investments in alignment with the projected economic trends, such as adjusting production levels and pricing strategies according to expected changes in consumer demand and spending.

Amkay Products Limited IPO Details

Amkay Products Limited IPO Dates

Amkay Products IPO is open from Tuesday, April 30, 2024, to Friday, May 3, 2024. The IPO will be listed on BSE, SME.

Amkay Products Limited IPO Price Band

Amkay Products is a book-built issue IPO. The price band is set at ₹52 to ₹55 per share.

Amkay Products Limited IPO Lot Size

The lot size for Amkay Products IPO is 2000 shares with a minimum investment of ₹1,10,000.

Amkay Products Limited IPO Objectives

The company plans to allocate the net proceeds from the issue for the following purposes:

Funding capital expenditure of ₹50.20 lakh towards the installation of additional machinery.
Allocate ₹800.00 lakh for the funding of working capital requirements.
General corporate purposes

Peer Details

As per DRHP, the company has 2 listed peers, which are mentioned below:

Hemant Surgical Industries Limited.
QMS Medical Allied Services Limited.

How To Check the Allotment Status of the Amkay Products Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app.
Go to the IPO Section and then to IPO Orders.
Select the individual IPO that you had applied for and check the allotment status.
Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Amkay Products Limited

Registered office: Bungalow No. 68, Rashmi Park, CHS Ltd., Dhumal Nagar, Waliv Road, Vasai, Thane 401208, Maharashtra, India

Phone: +91-9152094440

E-mail: cs@amkayproducts.com

IPO Financials

Particulars	As at December 31, 2023	Year Ending on March 31, 2023	Year Ending on March 31, 2022	Year Ending on March 31, 2021
Revenue(Amount in ₹ Lakhs)	2,385.56	2,825.05	3,679.45	4,071.74
Profit After Tax (PAT) (in ₹ Lakhs)	215.34	151.02	146.71	312.68
Cash and Cash Equivalents (in ₹ million)	106.16	4.99	20.26	92.48
Return on Net Worth (%)	21.82%	19.57%	23.64%	65.98%
Total Borrowings	476.22	469.98	433.59	136.54
EBITDA (in ₹ lakh)	252.80	312.05	265.81	458.00

Know before investing

Strengths

Amkay Products offers a broad range of medical equipment and disposables that address surgical demands, home healthcare, and respiratory illnesses. The firm efficiently caters to a large consumer base in India as well as overseas markets such as Bhutan, Nepal, and Qatar, thanks to its diverse range of products. This variety not only guarantees a consistent flow of income but also puts the business in a position to take advantage of prospects for future product expansion as market needs change.
The company's wide dealer network, which covers most of India, contributes to its strong development. Amkay Products makes use of this network to guarantee broad distribution of its products and uphold solid dealer connections, both of which are essential for long-term company success. Additionally, the company's reach is increased by branching out into online sales through websites like Flipkart and Amazon, which opens up new client groups and revenue sources.
Amkay Products places a high priority on quality control as it fosters enduring client connections and brand loyalty. The company's ISO 9001:2015 accreditation for its Quality Management System and CE certification for the majority of its goods provide both local and foreign consumers confidence in the high calibre and long-lasting nature of its products.

Risks

For certain of its goods, the company relies on other manufacturers; therefore, any problems with these manufacturers, such as noncompliance with laws or standards, might cause supply chain disruptions for Amkay Products. The absence of long-term agreements with suppliers exposes the business to production setbacks or the inability to satisfy client demand.
The company is involved in certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.
A sizable amount of Amkay Products' revenue comes from a small number of important clients. The financial success of the business might suffer if these clients disappear or if their demand declines. Major clients' defaults or payment delays can put the business at greater danger.