Akums Drugs and Pharmaceuticals IPO Allotment Today: The company wants to use the money for payment of borrowings, funding incremental working capital requirements, inorganic growth through acquisitions, and other general corporate purposes.
Akums Drugs IPO Allotment: Akums Drugs and Pharmaceuticals IPO closed its subscription to investors on August 01. Akums Drus is a pharmaceutical contract development and manufacturing organisation that makes a range of pharma products. Some of its other services include formulation of research and development (“R&D”). Akums Drugs is also engaged in the manufacturing and sale of branded pharmaceutical formulations and active pharmaceutical ingredients (“APIs”). The IPO of the company was opened for bidding on July 31. Here’s how you can check the shares allotment status:
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Step 1
Go to the website of the registrar handling the issue. In Akums Drugs and Pharmaceuticals’ IPO, Link Intime India is the registrar.
Step 2
Click on the public issue section on the left side of the webpage.
Step 3
Enter details like the company’s name and PAN number/ application number/ client ID/ account number.
Step 4
Hit the submit button
Step 5
A screen will pop up with the status.
Listing Date
The listing of stock is expected to take place on NSE and BSE on August 06, as per the tentative schedule.
IPO details
Akums Drugs and Pharmaceuticals raised Rs 1,856.74 crores from investors by a combination of fresh shares and an offer for sale. The company kept the IPO price band in a range of Rs 646 to Rs 679 per equity share.
Employee reservation
The company kept aside 243,902 shares for the employees, which are available to them at a discount of Rs 64 per equity share to the issue price.
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Expert’s view
“Given the anticipated growth in the Indian CDMO market, along with Akums’ expanding global footprint and strategic move into API manufacturing, further enhance its long-term prospects. Hence, we recommend investors to “SUBSCRIBE” the Akums Drugs and Pharmaceuticals IPO for a long-term perspective. As the company is domestically the largest CDMO player we believe the market could give Akums a premium multiple towards its leadership position this may result are delivering healthy listing gains above 25% on its issue price,” said Rajan Shinde, Research Analyst at Mehta Equities.
