Ami Organics board approves capex of Rs190 crore for Ankleshwar Unit

Ami Organics Ltd has informed that the Board of Directors of Company has finalised and approved the Capex Plan for Ankleshwar Unit at its meeting held on April 28, 2022.

As per the regulatory filing, the Capex plan of Ankleshwar Unit entails an outlay of Rs190 crore to build a brownfield plant to support the future business growth of the company’s advanced pharmaceutical intermediates segment.

The existing structure of Ankleshwar Unit will be completely demolished and a new Plant will be built on the land. The Ankleshwar unit has received necessary environmental clearance and the new facility will have ~90 reactors taking the total reactor capacity to 436KL. The plant is expected to start commercial operations from January 2024. The Capex will be funded through a mix of General Corporate funds of IPO proceeds, internal accruals, and bank finance.

On Friday, Ami Organics ended at Rs1128 per piece higher by 0.18% on the BSE.

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( With inputs from indiainfoline)