25-Jul-2024
2 mins read
- Akums Drugs and Pharmaceuticals IPO is a book-built issue of Rs 1,856.74 crores.
- This upcoming IPO bidding opens on July 30 and closes on August 1, 2024.
- Akums Drugs and Pharmaceuticals IPO price is set at Rs 646 - Rs 679 per share.
- The minimum investment required for retail investors is Rs 14,938.
Akums Drugs and Pharmaceuticals IPO: Synopsis
Akums Drugs and Pharmaceuticals is open for subscription from Tuesday, July 30, 2024, and closing on Thursday, August 1, 2024. The price band for this IPO is set to Rs 646 – Rs 679 per share.
Akums Drugs and Pharmaceuticals is a 100% book-built public issue. The company is offering a fresh issue of 10.01 crore of equity shares amounting up to Rs 680 crore and an offer for sale of 1.73 crore of equity shares amounting up to Rs 1,262.83 crore, this aggregates to total size of 2.73 crore of equity shares amounting up to Rs 1,856.74 crore.
The allotment for this new IPO is expected to be finalised on Friday, August 2, 2024. This IPO will be listed on the NSE and BSE exchanges on Tuesday, August 6, 2024.
The minimum and maximum lot size set for the retail category is 1 lot, i.e., 22 shares and 13 lots, i.e., 286 shares, respectively. For retail investors, the minimum and maximum investment amount required is Rs 14,938 and Rs 1,94,194, respectively.
The IPO is managed by ICICI Securities Limited, Axis Bank Limited, Citigroup Global Markets India Private Limited and Ambit Private Limited, which are the lead managers. The company has appointed Link Intime India Private Limited as the registrar for the issue.
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Akums Drugs and Pharmaceuticals Limited: About the Company
Akums Drugs and Pharmaceuticals Limited, established in 2004, is a pharmaceutical CDMO providing a wide range of pharma products and services in India and overseas. The company offers end-to-end solutions for product development, manufacturing, R&D of formulations, regulatory dossier preparation, and other testing services. Akums also manufactures and sells branded drugs and APIs.
Akums produce various dosage forms, including tablets, capsules, liquid medicines, and more, totalling 4,025 commercialised formulations in over 60 dosage forms. In FY 2023, the company manufactured formulations for 26 of the top 30 Indian pharmaceutical companies. Akums operates 10 manufacturing units with a combined production capacity of 49.21 billion units annually and plans to expand with two additional units by FY 2025. As of September 30, 2023, Akums employed 16,463 people.
Akums Drugs and Pharmaceuticals IPO: Objectives
The net proceeds are proposed by the firm to be utilised in several. A portion of the proceeds will be utilising to the repayment or prepayment of indebtedness for both the company and its subsidiaries. Funds will be allocated to meet incremental working capital requirements, ensuring smooth and efficient operations. The company also plans to pursue inorganic growth through strategic acquisitions, which will enhance its market presence and capabilities. Lastly, a part of the proceeds will be used for general corporate purposes.
Akums Drugs and Pharmaceuticals IPO: Other Important Details
Time-Table of Akums Drugs and Pharmaceuticals IPO
Akums Drugs and Pharmaceuticals IPO: Financial Metrics (Amt in Rs Crore)
The company's revenue was reported to be Rs 4,212.21 crore for the year ended March 2024, which shows an increase of 13.81% as compared to March 2023. The profit after tax dropped by -99.19% for the year ended March 2024 compared to March 2023.
Minimum Investment: Lot Size Details
Promoters of Akums Drugs and Pharmaceuticals Limited and Their Holdings
The promoters of the company are S Sanjeev Jain, Sandeep Jain, and Akums Master Trust. The promoters collectively held 84.94% of the company's shares. However, post-IPO, the change in their shareholding has not yet been disclosed.
Akums Drugs and Pharmaceuticals: Strength of Company
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Akums Drugs and Pharmaceuticals Akums produces various dosage forms, including tablets, capsules etc.
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The company’s revenue increased by of 13.81% for FY24.
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Akums operates 10 manufacturing units with a combined production capacity of 49.21 billion units annually.
FAQs
1. What are the core details available of Akums Drugs and Pharmaceuticals IPO?
Akums Drugs and Pharmaceuticals IPO is a book-built issue of Rs 1,856.74 crore. This upcoming IPO offering a fresh issue of 1.01 crore equity shares and offer for sale of 1.73 crore of equity share. The allotment for this new IPO is expected to be finalised on Friday, August 2, 2024.
2. How can I apply for the Akums Drugs and Pharmaceuticals IPO?
The public subscription of this new IPO opens on July 30 and close on August 1, 2024. Click here to initiate the application process.
3. Who are the lead managers for the Akums Drugs and Pharmaceuticals IPO?
ICICI Securities Limited, Axis Bank Limited, Citigroup Global Markets India Private Limited and Ambit Private Limited appointed as the book-running lead managers for the IPO.
4. Who is appointed as the registrar for this IPO?
Link Intime India Private Limited has been appointed as the registrar for this public issue.
5. How will the net proceeds from the IPO be utilised?
The net proceeds will be utilized into various objectives. A portion of the proceeds will be utilizing to the repayment or prepayment of indebtedness for both the company and its subsidiaries. Funds will be allocated to meet incremental working capital requirements, ensuring smooth and efficient operations. The company plans to pursue inorganic growth through strategic acquisitions. Lastly, a part of the proceeds will be used for general corporate purposes.
6. How can I check the allotment status of the IPO?
Investors who applied for IPO can check the allotment status of Akums Drugs and Pharmaceuticals Limited by visiting here, for further updates, follow Bigul.
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