BSE SME Amwill Health Care drops on debut

The scrip was listed at 88.85, at a discount of 19.95% compared with the initial public offer (IPO) price. The stock was currently frozen at its lower limit of 5% over its listing price.

The counter hit a high of Rs 88.85 and a low of Rs 84.45. About 25.50 lakh shares of the company changed hands at the counter.

Amwill Health Care's IPO was subscribed 5.49 times. The issue opened for bidding on 5 February 2025 and it closed on 7 February 2025. The price band of the IPO was set at Rs 105 to Rs 111 per share.

The issue size comprised fresh issue of 44,03,600 and offer for sale (OFS) of 10,00,000 shares by existing promoters.

The company intends to utilize the net proceeds to meet working capital requirements, marketing and brand-building activities and general corporate purposes.

Amwill Health Care is a derma-cosmetic development company specializing in dermatological, cosmeceutical, and aesthetic products. By partnering with contract manufacturers, distributors, and third-party agencies, they focus on product formulation and development, outsourcing manufacturing, prototype development, and distribution. Their portfolio includes developing and contract manufacturing generic dermatological solutions, as well as formulating solutions for specific skin problems. As of 30 September 2024, the company had 84 employees on a payroll basis.

The company recorded revenue from operations of Rs 23.15 crore and net profit of Rs 6.51 crore for the period as of 30 September 2024.