![Qries](http://mrgaga.in/wp-content/uploads/2022/04/trading-account-adv.webp)
The IPO consists of a fresh issue of shares worth Rs 680 crore and an offer for sale (OFS) of up to 1.73 crore shares with a face value of Rs 2 per share. Each lot in the issue will consist of 22 shares. At the upper price band of Rs 679, the OFS would be worth about Rs 1,177 crore.
Under the OFS, Sanjeev Jain, Sandeep Jain, and Ruby QC Investments Holding will be offloading their part stakes.
Bids can be made for a maximum of 22 equity shares and in multiples of 55 shares thereafter. About 75% of the IPO has been kept reserved for QIB (qualified institutional buyers), 15% for non-institutional investors and the remaining 10% for retail investors.
The shares of Akums Drugs and Pharmaceuticals will be listed on the NSE and BSE platforms on August 6.Also Read: Aprameya Engineering IPO opens today: Check issue size, price band, GMP and other details
The net proceeds of the IPO will be utilized by the company towards the 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.
The finalisation of the basis of allotment will be done on August 2, while the allotted shares, if any, will be credited to the shareholdersβ demat accounts by August 5.
Akums is among the largest domestic market-focused Indian CDMOs on a revenue basis serving IPM, with a market share of 9.3% by value in FY23 in the total addressable Indian domestic CDMO market and 8.8% by volume in the total IPM market in FY23.
In the Indian domestic CDMO market, the company had a market share of 29.4% by value in FY23, which increased from 26.7% in FY2.
Axis Capital, ICICI Securities, Citigroup Global Markets India and Ambit are the book-running lead managers to the issue, while Link Intime India is the registrar to the offer.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
![Qries](https://mrgaga.in/wp-content/uploads/2022/04/bottom-adv-pms-adv.webp)
Source link