Akums Drugs and Pharmaceuticals IPO:The IPO of Akums Drugs and Pharmaceuticals, the country’s leading company manufacturing medicines through contract manufacturing, is opening next week on Tuesday i.e. 30 July. The size of the IPO is Rs 1855 crore. While the company has fixed the price band for this from Rs 646 to Rs 679 per share. This IPO will be open for subscription from 30 July to 1 August 2024. Allotment of shares will be done on 2 August and these shares will be listed on NSE and BSE on 6 August. If you are also preparing to invest in IPO, then know its details.
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About IPO
In this public offering, fresh equity shares worth Rs 680 crore will be issued. While shares worth Rs 1176.74 crore will be sold through OFS i.e. Offer for Sale. In this offer for sale, the promoters and existing investors are offering their 1.73 crore shares whose value is Rs 1176.74 crore. Out of which 15.1 lakh shares are being sold by Sanjeev Jain and Sandeep Jain and 1.43 crore shares are being sold by Ruby QC Investment Holdings through Offer for Sale. Currently, the total market value of the company is around Rs 10,000 crore.
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How much reserve for whom
75% of the IPO of Akms Drugs and Pharmaceuticals has been reserved for Qualified Institutional Buyers (QIB). 15% of the issue is reserved for non-institutional investors (NII). While 10% is reserved for retail investors. In this, shares worth Rs 15 crore have been reserved for employees. They will also get a discount of Rs 64 on each share.
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Akums Drugs GMP 21%
There is a stir in the grey market regarding the IPO of Akms Drugs and Pharmaceuticals Limited. The unlisted stock of the company is at a premium of Rs 150 in the grey market. This is a 21 per cent premium in terms of the upper price band of Rs 679.
Where will the funds be used
The company will use the funds raised from the IPO to repay debt, working capital, acquisitions and corporate needs. Its lot size has been fixed at 22 shares. ICICI Securities, Axis Capital, Citigroup Global Markets India and Ambit are the book running lead managers for this IPO while Link Intime India has been appointed as the registrar.
