New Delhi, Akums Drugs and Pharmaceuticals IPO received 4.43 times subscription on the second day of subscription on Wednesday.
The initial share sale of 1,875 crore received bids for 6,71,69,960 shares, against 1,51,62,239 shares on offer, translating to 4.43 times the subscription, according to NSE data.
The matter will conclude on Thursday.
The Retail Individual Investors (RII) quota received 8.98 times subscription, while the Non-Institutional Investors part obtained 8.48 times. The portion intended for Qualified Institutional Buyers (QIB) received 96 percent subscription.
The IPO is a combination of a fresh issue of shares worth Rs 680 crore and an offer for sale (OFS) of 1.73 crore shares valued at Rs 1,177 crore at the upper end of the band pricing by developers and an existing investor. .
Those selling SFO shares are Sanjeev Jain, Sandeep Jain and Ruby QC Investment Holdings Pte Ltd.
The public issue has a price range of Rs 646 to Rs 679 per share.
Akums Drugs and Pharmaceuticals Ltd on Monday said it had raised Rs 829 crore from anchor investors.
Proceeds from the new issue will be used to repay debt, fund the company's working capital requirements, undertake inorganic growth initiatives through acquisitions and for general corporate purposes.
Brokerage houses have pegged the company's market capitalization at Rs 10,697 crore after the issue.
Established in 2004, Akums is a pharmaceutical contract development and manufacturing organization (CDMO) offering a wide range of pharmaceutical products and services in India and abroad.
As of September 30, 2023, key customers for the company's CDMO business include Alembic Pharmaceuticals, Alkem Laboratories, Cipla, Dabur India, Dr Reddy's Laboratories, Hetero Healthcare, Ipca Laboratories, Mankind Pharma, MedPlus Health Services, Micro Labs, Mylan Pharmaceuticals, Natco. Pharma, Sun Pharmaceutical Industries and Amishi Consumer Technologies (The Mom's Co).
ICICI Securities, Axis Capital, Citigroup Global Markets India and Ambit Pvt Ltd are the lead managers of the issue.
The company's shares are proposed to be listed on BSE and NSE.
The initial share sale of 1,875 crore received bids for 6,71,69,960 shares, against 1,51,62,239 shares on offer, translating to 4.43 times the subscription, according to NSE data.
The matter will conclude on Thursday.
The Retail Individual Investors (RII) quota received 8.98 times subscription, while the Non-Institutional Investors part obtained 8.48 times. The portion intended for Qualified Institutional Buyers (QIB) received 96 percent subscription.
The IPO is a combination of a fresh issue of shares worth Rs 680 crore and an offer for sale (OFS) of 1.73 crore shares valued at Rs 1,177 crore at the upper end of the band pricing by developers and an existing investor. .
Those selling SFO shares are Sanjeev Jain, Sandeep Jain and Ruby QC Investment Holdings Pte Ltd.
The public issue has a price range of Rs 646 to Rs 679 per share.
Akums Drugs and Pharmaceuticals Ltd on Monday said it had raised Rs 829 crore from anchor investors.
Proceeds from the new issue will be used to repay debt, fund the company's working capital requirements, undertake inorganic growth initiatives through acquisitions and for general corporate purposes.
Brokerage houses have pegged the company's market capitalization at Rs 10,697 crore after the issue.
Established in 2004, Akums is a pharmaceutical contract development and manufacturing organization (CDMO) offering a wide range of pharmaceutical products and services in India and abroad.
As of September 30, 2023, key customers for the company's CDMO business include Alembic Pharmaceuticals, Alkem Laboratories, Cipla, Dabur India, Dr Reddy's Laboratories, Hetero Healthcare, Ipca Laboratories, Mankind Pharma, MedPlus Health Services, Micro Labs, Mylan Pharmaceuticals, Natco. Pharma, Sun Pharmaceutical Industries and Amishi Consumer Technologies (The Mom's Co).
ICICI Securities, Axis Capital, Citigroup Global Markets India and Ambit Pvt Ltd are the lead managers of the issue.
The company's shares are proposed to be listed on BSE and NSE.
