Akums Drugs IPO Subscribed 3.20 times so far Day 2

31 Jul 2024 , 03:48 PM

With the Nity 50 ready to exceed 25,000 levels in a bullish market, investors showed strong interest in Akums Drugs & Pharmaceuticals’ IPO, which was fully booked on its opening day.

The retail portion was fully subscribed within an hour of its opening. The issue’s public subscription period is accessible to investors from July 30 to August 1, with a price band established between ₹646 and ₹679 per share. On Monday, the business said that it had received ₹829 crore from anchor investors ahead of the public share sale subscription period.

Akums Drugs and Pharmaceuticals’ IPO subscription was 3.25 times. Retail investors section was subscribed 7.74 times and the non-institutional investor category was subscribed 5.92 times. 45% of the qualified institutional buyers (QIBs) section was subscribed. 2.03 times subscription had been made to the employee portion.

The firm has set aside 75% of the issue size for eligible institutional buyers, 15% for non-institutional investors, and 10% for regular investors. Investors may bid for a minimum of 22 equity shares or multiples thereof.

Akums, a pharmaceutical contract development and production organisation (CDO), was created in 2004. It provides a diverse range of pharmaceutical products and services both domestically in India and internationally.

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