Akums Drugs and Pharmaceuticals IPO: Pharmaceutical company to hit capital market to raise ~INR 1,857 crores through public issue

Akums Drugs and Pharmaceuticals is into Healthcare & Pharmaceuticals Pharmaceutical and is looking raise funds through Fresh Issue and Offer For Sale

Akums Drugs and Pharmaceuticals to raise Fresh Issue aggregating up to Rs 680 crores and an Offer for Sale up to 18,598,365 Equity Shares through public issue IPO

Akums Drugs and Pharmaceuticals IPO Update:

Akums Drugs And Pharmaceuticals Limited IPO: Delhi based Akums Drugs and Pharmaceuticals Limited established in the year 2004 and is into Healthcare & Pharmaceuticals - Pharmaceutical sector.

Company is promoted by Sanjeev Jain, Sandeep Jain, and Akums Master Trust. Pre-Offer Promoter and Promoter group stake in the company is 82.44%.

Akums Drugs and Pharmaceuticals Limited has filed Red Herring Prospectus (RHP) for proposed initial public offer (IPO). Total issue size is INR 1,857 Crores calculated on upper price band (face value of INR 2 per share) via initial public offering.

Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 680 crores and an Offer for Sale up to 17,330,435 Equity Shares.. ICICI Securities, ICICI Securities, Citigroup Global Markets India, Ambit have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime India Pvt. Ltd. as Registrar and Share transfer Agent.

Details about upcoming IPO:
As per the details available in RHP, Price band is Rs 646 to Rs 679 with lot size of 22 shares and in multiples thereof. Objects of the issue is 1) Repayment/prepayment of debt of the company and subsidiaries - Rs387 Cr, 2) Working Capital - Rs55 Cr 3) Pursuing inorganic growth initiatives through acquisitions and 4) General corporate purposes.

IPO Dates:

IPO will open on July 30, 2024 and close on July 30, 2024. Tentative date of listing on stock exchanges is August 06, 2024

Want to know more details about the IPO, please visit here Akums Drugs and Pharmaceuticals Limited

Source: SEBI, BSE, NSE, DRHP, Akums Drugs and Pharmaceuticals, Industry Data

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