Akums Drugs IPO: On its second day of bidding, the Akums Drugs and Pharmaceuticals IPO has garnered significant interest, with the subscription status reaching 4.43 times. The retail investor portion was oversubscribed 8.98 times, while non-institutional investors’ quota was subscribed 8.48 times. The qualified institutional buyers (QIBs) section saw a 96% subscription rate, and the employee portion was subscribed 2.23 times.
The IPO, which opened on July 30 and closes on August 1, has set its price band between ₹646 and ₹679. It was fully subscribed on its first day, reflecting strong investor interest. The company had previously raised ₹829 crore from anchor investors.
Key Points:
- Subscription Levels: The IPO has been heavily subscribed, with the retail segment seeing 8.98 times oversubscription and the non-institutional segment 8.48 times. The QIB section achieved 96% of its subscription limit, and the employee portion was subscribed 2.23 times.
- IPO Details: Akums Drugs & Pharmaceuticals’ IPO comprises a fresh issue of ₹680 crore and an offer-for-sale (OFS) of 17,330,435 equity shares. The issue proceeds will be used for debt repayment, inorganic growth, and working capital needs.
- Grey Market Premium: The grey market premium for Akums Drugs shares is currently at ₹170, suggesting an estimated listing price of ₹849, which is 25.04% higher than the upper end of the IPO price band.
- Company Overview: Founded in 2004, Akums is a pharmaceutical contract development and manufacturing organization with a broad client base including major domestic and international pharmaceutical firms.
The IPO is managed by ICICI Securities, Axis Bank, Citigroup Global Markets, and Ambit Private Ltd., with Link Intime India serving as the registrar.
