New Delhi, Sep 2 (PTI) The initial public offer of specialty chemicals maker Ami Organics was subscribed 3.90 times on the second day of subscription on Thursday.

The Rs 569.63 crore IPO received bids for 2,55,07,200 shares against 65,42,342 shares on offer, as per data available with the BSE.

Also Read | Redmi 10 Prime Launching Tomorrow in India; Check Expected Prices, Features & Specifications.

The category for Qualified Institutional Buyers (QIBs) was subscribed 1.43 times, non-institutional investors 1.51 times and Retail Individual Investors (RIIs) 6.32 times.

The initial public offer was fully subscribed within the first few hours on the opening day on Wednesday.

Also Read | Samsung Galaxy Tab S7 FE Wi-Fi Variant Launched in India at Rs 41,999.

The company's initial public offer (IPO) has a fresh issue of up to Rs 200 crore and an offer for sale of up to 60,59,600 equity shares. Its price range is at Rs 603-610 per share.

Ami Organics had on Tuesday collected Rs 171 crore from anchor investors.

Proceeds from the fresh issue will be used towards repayment of certain debt and funding working capital requirements.

Ami Organics is one of the leading R&D driven manufacturers of specialty chemicals with varied end usage, focussed towards the development and manufacturing of pharma intermediates for regulated and generic APIs (active pharmaceutical ingredients) and NCE (new chemical entity) and key starting material for agrochemicals and fine chemicals.

The equity shares of the company will be listed on BSE and NSE.

This is the company's second attempt to go public.

Earlier, Ami Organics had filed preliminary papers with Sebi in 2018 and had received the regulator's nod to launch the public issue. However, it did not float the IPO.

Intensive Fiscal Services, Ambit Private Limited and Axis Capital are the managers to the offer.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)