Akums Drugs and Pharma IPO: Check subscription on Day 3, GMP and other details
Non-institutional investors drove the strong demand with a subscription of 22.8 times, followed by retail investors, whose category was booked 13.8 times. The part reserved for QIB investors was booked the least at 2.4 times.
Akums Drugs and Pharma GMP
In the unlisted market, the company's shares are trading at a GMP of Rs 170, which translates into a premium of 25% over the issue price.
The IPO comprises a fresh issue of Rs 680 crore and an offer for sale (OFS) of up to 1.73 crore shares with a face value of Rs 2 apiece.
The net proceeds of the IPO will be utilised towards repayment of the company debt and its subsidiaries, funding incremental working capital requirements, pursuing inorganic growth initiatives through acquisitions and general corporate purposes.
Akums Drugs and Pharma IPO price band
The IPO is priced in the range of Rs 646-679 apiece, where investors can bid for 22 shares in one lot. At the upper end, the company plans to raise Rs 1,857 crore through the issue.
Akums Drugs and Pharma IPO review
Analysts advised investors to subscribe to the issue as it is available at reasonable valuations. Further, the company is the largest CDMO serving the Indian pharmaceutical industry with established track record and has a diverse client base
«Akums Drugs and Pharmaceuticals financial performance is driven by leveraging its leadership position to increase market share and consolidate position in the CDMO market, expand global presence through strategic initiatives, scale API business, focus on
