Akums Drugs & Pharmaceuticals IPO Subscribed 63.56 Times On Day 3
The initial public offering of Akums Drugs and Pharmaceuticals Ltd. was subscribed to 63.56 times on Thursday. It was subscribed to 4.43 times on its second day, led by demand from retail and non-institutional investors. The issue was fully subscribed to on day one.
The pharma major is looking to raise up to Rs 1,856.7 crore via a fresh issue of equity shares worth Rs 680 crore and an offer for sale of 1.73 crore shares by promoters and an existing investor.
The company has set a price range of Rs 646–679 per share for its IPO. Sanjeev Jain and Sandeep Jain are the promoters selling 15.1 lakh shares each, while Ruby QC Investment Holdings Pte will offload 1.43 crore shares under the OFS component.
The minimum lot size for bidding will be 22 shares, with further bids to be made in multiples. ICICI Securities Ltd, Axis Capital Ltd., Citigroup Global Markets India Pvt. and Ambit Pvt. are the book-running lead managers for the issue.
The company raised Rs 828 crore from anchor investors ahead of its IPO. It allotted 1.22 crore shares at Rs 679 apiece to 50 anchor investors.
Proceeds from the fresh issue will be used to repay debt, fund the working capital requirements of the company, pursue inorganic-growth initiatives through acquisitions, and for general corporate purposes.
Issue Details
Issue opens: July 30.
Issue closes: Aug. 1.
Issue price: Rs 646 to Rs 679 per share.
Total issue size: Rs 1,856.7 crore.
Bid lot: 22 shares.
Listing: BSE and NSE.
Business
The contract development and manufacturing organisation offers a comprehensive range of pharmaceutical products and services in India and overseas.
It owns the intellectual property for the manufacturing processes of several formulations, and their core business is focused on providing end-to-end product development and manufacturing solutions to clients.
Some of their other services include formulation research and development, preparation and filing of regulatory dossiers in the Indian and global markets. The company is also engaged in the manufacturing and sale of branded pharmaceutical formulations and active pharmaceutical ingredients.
Subscription Status: Day 3
The IPO has been subscribed 63.56 times as of 5:30 p.m. on Thursday.
Institutional investors: 90.09 times.
Non-institutional investors: 42.21 times.
Retail investors: 20.30 times.
Employee reserved: 4.27 times.
Watch The IPO Adda HereÂ
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
