The offer will open for subscription on September 1 and will close on September 3.

Specialty chemical company Ami Organics on August 31 raised Rs 170.89 crore from 20 anchor investors ahead of the opening of its initial public offering.

The offer will open for subscription on September 1 and will close on September 3.

The company in its BSE filing on August 31 said after consultation with merchant bankers, its IPO Committee has finalised allocation of 28,01,485 equity shares to anchor investors at a price of Rs 610 per share, the upper price band.

Investors including SBI Mutual Fund, Nippon Mutual Fund, Malabar India Fund, Kuber India Fund, UTI MF, IIFL Asset Management, Sundaram MF, Elara India Opportunities Fund, and Carnelian Capital Compounder Fund participated in the anchor book.

Among others, SBI Life Insurance, Aditya Birla Sun Life Insurance, Kotak Mahindra Life Insurance, and Max Life Insurance also invested in Ami Organics through the anchor book.

The specialty chemicals company plans to garner Rs 569.63 crore through its public issue that comprises a fresh issue of Rs 200 crore and an offer for sale of 60,59,600 equity shares by 20 selling shareholders including Parul Chetankumar Vaghasia, Girishkumar Limbabhai Chovatia, Kiranben Girishbhai Chovatia, and Aruna Jayantkumar Pandya.

The fresh issue proceeds and the pre-IPO placement money will be utilised to repay debts (Rs 140 crore), and working capital requirements (Rs 90 crore).