The Akums Drugs & Pharmaceuticals IPO, which was open for subscription from July 30 to August 1, 2024, has caught the attention of many investors. If you applied for shares in this IPO, you’re probably eager to see if you got the shares you wanted.
How to Check Your IPO Allotment Status
If you applied for the Akums Drugs & Pharmaceuticals IPO, you can check if you’ve been allotted shares by following these steps:
- Visit the IPO Registrar’s Website: Go to Link Intime India’s official site at https://linkintime.co.in/initial_offer/public-issues.html.
- Select the Company: Find and select “Akums Drugs and Pharmaceuticals Limited” from the list.
- Enter Your Details: Provide your PAN number or application number.
- Submit: Click the submit button to see your allotment status.
You can also check your status on the Bombay Stock Exchange (BSE) website.
GMP, or Grey Market Premium, helps gauge interest in an IPO. It’s the difference between the IPO issue price and the expected market price when shares begin trading. A higher GMP generally shows strong demand.
For Akums Drugs & Pharmaceuticals, the GMP was initially around Rs 210-215 but has since dropped to about Rs 140-145. This indicates that while there was initial excitement, interest has cooled a bit.
The shares of Akums Drugs & Pharmaceuticals are expected to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on August 6, 2024. This is when you can start trading the shares if you have been allotted any.
The Akums Drugs & Pharmaceuticals IPO was priced between Rs 646 and Rs 679 per share, with a minimum lot size of 22 shares. The company aimed to raise Rs 1,856.74 crore from this IPO, which includes a fresh share sale of up to Rs 680 crore and an offer-for-sale (OFS) of up to 1,73,30,435 equity shares.
The IPO saw an incredible response, with total subscriptions being 63.56 times. Institutional investors subscribed 90.09 times, non-institutional investors 42.21 times, retail investors 21.30 times, and employees 4.27 times.
Once the allotment process is finished, successful bidders will receive notifications about the debit of funds or the cancellation of their IPO mandate by the weekend or by Monday, August 5, 2024. Watch your email or SMS for updates.
In short, the Akums Drugs & Pharmaceuticals IPO has generated a lot of interest. If you applied, check your allotment status through the registrar’s website or BSE. Be ready for the shares to be listed on August 6, 2024, and stay updated on any new developments.