The initial public offering of Akums Drugs and Pharmaceuticals Ltd. was subscribed more than 60 times on Thursday led by strong demand from institutional investors.
The IPO was subscribed 63.56 times on Thursday.
Institutional investors: 90.09 times.
Non-institutional investors: 42.21 times.
Retail investors: 20.30 times.
Employee reserved: 4.27 times.
The allotment for Akums Drugs and Pharmaceuticals IPO will be finalised on Friday, August 2. Investors who bid for the issue can check the IPO allotment status on Link Intime India Private Ltd. and the BSE website by following the steps below.
The Akums Drugs and Pharmaceuticals IPO was the 18th most subscribed IPO of 2024.
How to check Akums Drugs IPO allotment status on Link Intime
Visit the official website of Link Intime India here: https://linkintime.co.in/initial_offer/public-issues.html.
Choose "Akums Drugs and Pharmaceuticals Limited" from the list of companies listed in the dropdown. (The name will be displayed once the share allocation is finalised)
Select either PAN, Application Number, DP/Client ID or Account Number/IFSC to verify your allotment status.
Enter the required information as per your selection above.
Click the "Submit" button to check your allotment status.
Steps to check Akums Drugs and Pharmaceuticals IPO allotment status on BSE
Go to the official BSE website: https://www.bseindia.com/investors/appli_check.aspx
Select the issue type as 'Equity.'
Choose "Akums Drugs and Pharmaceuticals Limited" from the dropdown menu.
Enter your application number or PAN (Permanent Account Number).
Complete the 'Captcha' for verification.
Click on the "Search" button to view your allotment status.
Download or print the allotment status for your records.
Akums Drugs IPO Listing Date
Shares of Akums Drugs and Pharmaceuticals Limited are set to be listed on BSE and NSE on Tuesday, August 6.
About Akums Drugs and Pharmaceuticals IPO
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 had 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 was 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.
About Akums Drugs and Pharmaceuticals Limited
Akums Drugs and Pharmaceuticals Limited, founded in 2004, is a company that helps develop and manufacture medicines in India and abroad. They provide complete services for creating and testing new drugs, preparing regulatory documents, and producing various types of medications like tablets, capsules, and eye drops. The company has made over 4,000 different formulations and produced medicines for 26 of the top 30 pharmaceutical companies in India in 2023. They have 10 manufacturing units and are planning to add two more by 2025. Akums employs over 16,000 people and has facilities approved by global health organizations like EU-GMP and WHO-GMP.
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