Welcome To Latest IND >> Fastest World News
Jul 30, 2024 10:37 AM IST
Akums Drugs and Pharma IPO will close on August 1 and the company aims to raise around ₹1,857 crore.
The initial public offer (IPO) of Akums Drugs and Pharmaceuticals opened for subscription today. The issue will close on August 1 and the company aims to raise around ₹1,857 crore. The IPO comprises a fresh issue of shares worth ₹680 crore and an offer for sale (OFS) of up to 1.73 crore shares with a face value of ₹2 per share.
Akums Drugs and Pharma IPO price band
The price band of Akums Drugs and Pharma IPO is in the range of ₹646-679 per share. Investors can bid for 22 shares in one lot and at the upper end, the company plans to raise ₹1857 crore through the issue.
Akums Drugs and Pharma IPO objectives
Net proceeds from the IPO will be used by the company for repaying debt, working capital requirements, inorganic growth initiatives and general corporate purposes.
Read more: Will AI lead to job losses in India? What minister Mansukh Mandaviya said
Akums Drugs and Pharma GMP
The current GMP of Akums Drugs and Pharma is ₹180 in the unlisted market which indicates a premium of 26% to the issue price.
Akums Drugs and Pharma company details
The company offers a comprehensive range of pharmaceutical products and services in India and overseas. It carries out operations across the pharmaceutical value chain and in FY24 its revenue from operations grew 14% year-on-year to ₹4,178 crore from ₹3655 crore in the preceding financial year.
Read more: Ola Electric lowered IPO price because of this reason, CEO Bhavish Aggarwal says
Other details on Akums Drugs and Pharma IPO
Axis Capital, ICICI Securities, Citigroup Global Markets India and Ambit are the book running lead managers to the issue. Link Intime India is the registrar to the IPO.
Latest IND