Amwill Health Care Shares Plunge 24 pc Below IPO Price On Market Debut

New Delhi, Feb 12 (KNN) Amwill Health Care, a derma-cosmetic development company, witnessed a disappointing stock market debut as its shares traded at Rs 84.45 on the National Stock Exchange (NSE) Emerge, marking a significant 23.92 per cent decline from its issue price of Rs 111.

The stock opened at Rs 88.85, already showing a 19.95 per cent discount, and subsequently hit the 5 per cent lower circuit limit from its listing price.

Trading activity was notable with approximately 25.50 lakh shares changing hands during the session.

Despite the lukewarm market response, the company's initial public offering (IPO) had garnered strong investor interest, achieving a 5.49 times subscription during its bidding period from February 5 to February 7, 2025, with a price band set between Rs 105 and Rs 111 per share.

The public issue comprised a fresh issue of 44,03,600 shares along with an offer for sale (OFS) of 10,00,000 shares by existing promoters.

The company plans to utilise the proceeds for working capital requirements, marketing initiatives, brand-building activities, and general corporate purposes.

Amwill Health Care specialises in developing dermatological, cosmeceutical, and aesthetic products through partnerships with contract manufacturers, distributors, and third-party agencies.

The company's business model focuses on product formulation, prototype development, and distribution, while outsourcing manufacturing operations.

As of September 30, 2024, the company maintained a workforce of 84 employees and reported revenue from operations of Rs 23.15 crore with a net profit of Rs 6.51 crore.

(KNN Bureau)