Ami Organics Ltd has fixed the price band of its initial public offering at Rs 603-610 a share. The firm earlier said that its IPO would open on 1 September and close on 3 September. The issue comprises a fresh point of Rs 200 crore and an offer for sale of up to 6.06 million shares by its existing promoters and shareholders.

The OFS consists of up to 7 lakh shares by Parul Chetankumar Vaghasia, up to 1.5 lakhs shares by Girishkumar Limbabhai Chovatia, up to 3.05 million shares by Kiranben Girishbhai Chovatia, up to 1.74 lakh shares by Aruna Jayantkumar Pandya.

At the upper end of the price band, the company will raise around Rs 570 crore. In its, DRHP said that it is in consultation with its book-running managers for pre-IPO placement of up to Rs 100 crore. Intensive Fiscal Services Pvt. Ltd, Ambit Pvt. Ltd and Axis Capital Ltd are the book running lead managers to the issue.

The proceeds from the issue will be used to repay financial facilities of up to Rs 140 crore. The firm will also use up to Rs 90 crore for funding working capital requirements. As of March 2021, its net debt stood at Rs 218.73 crore.