Akums Drugs and Pharmaceuticals Limited, a leading pharmaceutical company, is making headlines with its Initial Public Offering (IPO). This is the first time the company is offering its shares to the public. The IPO started on July 30, 2024, and will close on August 1, 2024.
Details of the Akums Drugs IPO
- IPO Open Date: July 30, 2024
- IPO Close Date: August 1, 2024
- Price Band: ₹646 to ₹679 per share
- Total Issue Size: ₹1,857 crore
The company has set a price range for its shares between ₹646 and ₹679. They aim to raise a total of ₹1,857 crore from this IPO.
Before investing, many people look at something called the Grey Market Premium (GMP). The GMP shows how much more investors are willing to pay for shares in the grey market compared to the IPO price. Currently, the GMP for Akums Drugs is ₹177. This means people are willing to pay ₹177 more than the highest IPO price of ₹679, making the estimated price in the grey market ₹856 per share.
The first day of the IPO saw a lot of interest from investors. The retail investor section was fully subscribed within an hour of the IPO opening. Overall, the IPO was 1.37 times subscribed on its first day. Here’s how it breaks down:
- Retail Investors: 3.35 times subscribed
- Non-Institutional Investors: 1.96 times subscribed
- Qualified Institutional Buyers (QIBs): 43% of the total interest
- Employee Portion: 1.07 times subscribed
The company had already raised ₹829 crore from anchor investors before the public subscription started.
- Allotment: On August 2, 2024, the company will decide who gets the shares.
- Listing: If you are allotted shares, they will be credited to your demat account on August 5, 2024. The shares will start trading on the stock exchange on August 6, 2024.
It’s always wise to do your own research or consult a financial advisor before making investment decisions.
Akums Drugs and Pharmaceuticals Limited is a pharmaceutical contract development and manufacturing organization established in 2004. It provides a wide range of pharmaceutical products and services both in India and internationally. The IPO is a significant event for the company and investors alike, and understanding the details can help you make an informed decision.
