IPO Launch Date, Evaluation, Pricing, and Allocation Particulars of Amkay Products

The IPO details for Amkay Products are confirmed: The IPO is set to open on April 30 and close on May 3. Amkay Products, a BSE SME IPO, aims to raise ₹12.61 crores through the IPO. The price band for the Amkay Products IPO is set at ₹52 to ₹55 per share, with a market lot of 2000 shares.


Amkay Products Limited is involved in manufacturing, assembling, and marketing a wide range of medical devices, disposables, and healthcare products such as face masks, alcohol swabs, lancet needles, nebulizers, pulse oximeters, surgeon caps, and more. These products are utilized by various healthcare facilities including hospitals, clinics, nursing homes, etc., throughout India. Additionally, the company is engaged in branding and marketing certain products like diapers, plastic gloves, suction machines, etc.

Established in 2008, the company initially operated from a rented manufacturing unit in Vasai, Mumbai, spanning 980 square feet. Over time, they expanded their product portfolio and operations, eventually shifting to larger manufacturing units. In 2012, they purchased a manufacturing unit in Acchad Industrial Area, Thane, covering around 20,000 square feet. Here, they manufacture and supply a range of products including face masks, alcohol swabs, nebulizer masks, surgeon/bouffant caps, lancets, air beds, aprons, digital thermometers, shoe covers, BP monitors, etc. Additionally, in 2016, they acquired another manufacturing unit in Acchad Industrial Area, Thane, measuring approximately 6,000 square feet, where they produce bio bags.

Their product portfolio includes over 30 items, encompassing respiratory disease-related medical devices, surgical disposables, home healthcare products, and other healthcare items. Currently, they manufacture more than 20 products and engage in branding and trading of over 10 products. In terms of revenue, their manufacturing operations generated Rs. 1836.91 lakhs, Rs. 2224.59 lakhs, Rs. 2255.89 lakhs, and Rs. 3020.24 lakhs in fiscal years 2023, 2022, and 2021, respectively. Revenue from branding and trading operations amounted to Rs. 437.71 lakhs, Rs. 561.83 lakhs, Rs. 1394.48 lakhs, and Rs. 1049.71 lakhs for the same periods.

Amkay Products IPO Details

IPO Date April 30, 2024 to May 3, 2024
Listing Date [.]
Face Value ₹10 per share
Price Band ₹52 to ₹55 per share
Lot Size 2000 Shares
Total Issue Size 2,292,000 shares (aggregating up to ₹12.61 Cr)
Fresh Issue 2,292,000 shares (aggregating up to ₹12.61 Cr)
Issue Type Book Built Issue IPO
Listing At BSE SME
Share holding pre issue 6,363,640
Share holding post issue 8,655,640
Market Maker portion 120,000 shares

Amkay Products IPO Timeline (Tentative Schedule)

IPO Open Date Tuesday, April 30, 2024
IPO Close Date Friday, May 3, 2024
Basis of Allotment Monday, May 6, 2024
Initiation of Refunds Tuesday, May 7, 2024
Credit of Shares to Demat Tuesday, May 7, 2024
Listing Date Wednesday, May 8, 2024
Cut-off time for UPI mandate confirmation 5 PM on May 3, 2024

Key Performance Indicator

KPI Values
ROE 24.49%
ROCE 21.54%
Debt/Equity 0.48
RoNW 21.82%
P/BV 3.55
PAT Margin (%) 9.47%

Objects of the Issue (Amkay Products IPO Objectives)

The company intends to utilize the proceeds of the Issue to meet the following objectives:

  1. Funding Capital Expenditure towards the installation of additional Machinery;
  2. To meet working capital requirements; and
  3. General Corporate Purpose.

Amkay Products Limited Financial Information (Restated Standalone)

Amkay Products Limited’s revenue decreased by -23.22% and profit after tax (PAT) rose by 2.94% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended 31 Dec 2023 31 Mar 2023 31 Mar 2022 31 Mar 2021
Assets 1,887.52 1,563.77 1,580.64 1,393.47
Revenue 2,385.56 2,825.05 3,679.45 4,071.74
Profit After Tax 215.34 151.02 146.71 312.68
Net Worth 986.96 771.62 620.60 473.90
Reserves and Surplus 350.59 743.95 592.93 446.23
Total Borrowing 476.22 469.98 433.59 136.54
Amount in ₹ Lakhs

Amkay Products Company Financial Report

₹ in Crores
Year Revenue Expense PAT
2021 ₹40.72 ₹36.54 ₹3.13
2022 ₹36.79 ₹34.76 ₹1.47
2023 ₹28.25 ₹25.91 ₹1.51
Dec 2023 ₹23.86 ₹21.10 ₹2.15

Company Promoters

  • Kashyap Pravin Mody
  • Hemanshu Kantilal Batavia