Akums Drugs and Pharmaceuticals IPO Allotment: The initial public offering (IPO) of Akums Drugs and Pharmaceuticals Ltd has closed for subscription and has received strong demand from investors across the board. Akums Drugs IPO share allotment has also been finalised.
The bidding for Akums Drugs IPO opened on July 30 and ended on August 1. Akums Drugs and Pharmaceuticals IPO allotment date is August 2 and listing date is August 6.
The company has finalised the basis of allotment and now investors can check their Akums Drugs and Pharmaceuticals IPO allotment status online.
The investors who have received share allotment will get the shares credited into their demat accounts on August 5, while unsuccessful bidders will get the refund of their application money on the same day.
Investors can check Akums Drugs IPO allotment status online on the BSE website and the web portal of IPO registrar. Link Intime India Private Ltd is the Akums Drugs IPO registrar.
Here are few easy steps to check Akums Drugs IPO allotment status online:
Step 1] Visit IPO registrar website on this link - https://linkintime.co.in/initial_offer/public-issues.html
Step 2] Select ‘Akums Drugs and Pharmaceuticals Limited’ in the Select Company dropdown menu
Step 3] Choose among PAN, App. No., DP/Client ID and Account No/IFSC
Step 4] Enter the details as per the option chosen
Step 5] Click on Submit
Your Akums Drugs and Pharmaceuticals IPO allotment status will be displayed on the screen.
Akums Drugs IPO GMP today, or grey market premium today, is ₹141 per share, according to stock market observers. This indicates that the equity shares of Akums Drugs and Pharmaceuticals are trading higher at ₹820 apiece in the grey market, a premium of 20.77% to the issue price of ₹679 per share.
Akums Drugs IPO has been subscribed 63.56 times in total as the issue received bids for 96.36 crore equity shares as against 1.51 crore shares on the offer, according to the subscription status data on NSE.
The public issue was booked 21.30 times in the Retail Individual Investors (RIIs) category and 42.21 times in the Non Institutional Investors (NII) category. The Qualified Institutional Buyers (QIBs) portion received 90.09 times subscription.
Akums Drugs and Pharmaceuticals IPO opened for subscription on Tuesday, July 30, and closed on Thursday, August 1. The IPO allotment is likely to be finalized today August 2, and the IPO listing date is August 6. Akums Drugs and Pharmaceuticals shares will be listed on both the stock exchanges, BSE and NSE.
Akums Drugs IPO price band was set at ₹646 to ₹679 per share. The company raised ₹1,856.74 crore from the book-built issue which was a combination of fresh issue of 1 crore equity shares aggregating to ₹680 crore and offer for sale (OFS) of 1.73 crore shares aggregating to ₹1,176.74 crore.
ICICI Securities, Axis Bank, Citigroup Global Markets India Private Limited and Ambit Private Limited are the book running lead managers of the Akums Drugs and Pharmaceuticals IPO, while Link Intime India Private Ltd is the IPO registrar.
The company plans to utilize the net issue proceeds towards repayment/ prepayment of indebtedness of the company and its subsidiaries, funding incremental working capital requirements, pursuing inorganic growth initiatives through acquisitions and general corporate purposes.
Akums Drugs and Pharmaceuticals is a contract development and manufacturing organization (CDMO) offering a comprehensive range of pharmaceutical products and services in India and overseas.
The company’s core business is focused on providing end-to-end product development and manufacturing solutions to its clients. It is also engaged in the manufacturing and sale of branded pharmaceutical formulations and active pharmaceutical ingredients.
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