Akums Drugs and Pharmaceuticals IPO subscribed 97%

30 Jul 2024 , 03:09 PM

Akums Drugs and Pharmaceuticals’ initial public offering (IPO), which aims to generate ₹1,856.74 Crore, began for subscriptions on Tuesday.

The IPO includes a new issue of 1 Crore shares worth ₹680.00 Crore and an offer for sale of 1.73 Crore shares worth ₹1,176.74 Crore.

The IPO will conclude for subscriptions on August 1, 2024, and allotment is expected to be completed on August 2. The shares are planned to be listed on the BSE and NSE on August 6, 2024.

The IPO’s price band is set at ₹646 to ₹679/share. The minimum lot size for an application is 22 shares, which requires an investment of ₹14,938 from individual investors.

The Retail Investor category was oversubscribed 2.58 times. The Employee Reserved category was subscribed 83%. NII category was subscribed 1.12 times followed by QIB category at 36% subscription rate.

For feedback and suggestions, write to us at [e-mail]