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Akums Drugs and Pharma IPO: Life saving drug company to bring IPO, know details about company's plans

Akums Drugs and Pharmaceuticals Ltd IPO : Akums Drugs and Pharmaceuticals Ltd has filed draft papers with capital markets regulator SEBI to raise funds through an initial public offering, i.e. an IPO.
3 Month ago

Akums Drugs and Pharmaceuticals Ltd IPO : Akums Drugs and Pharmaceuticals Ltd has filed draft papers with capital markets regulator SEBI to raise funds through an initial public offering, i.e. an IPO. According to the draft red herring prospectus filed on Saturday, the initial share-sale is a combination of fresh issue of equity shares worth Rs 680 crore and OFS as per offer for sale of 1.86 crore shares by promoters and existing investors.

Among the sellers of shares in OFS are Sanjeev Jain, Sandeep Jain and Ruby QC Investment Holdings Pvt. The company through pre-IPO placement raised Rs. 136 crore is planning to collect. If such a placement is made, the size of the new issue will be reduced.

Where will the money be used?

The proceeds from the fresh issue will be used to repay debt, meet the company's working capital requirements, initiate inorganic growth through acquisitions and for general corporate purposes. Started in 2004, Akums is a pharmaceutical contract development and manufacturing organization (CDMO) offering a broad range of pharmaceutical products and services in India and abroad.

Who are the company's customers?

As of September 30, 2023, the company's major customers include Alembic Pharmaceuticals, Alchem ​​Laboratories, Cipla, Dabur India, Dr. Reddy's Laboratories, Sun Pharmaceutical Industries etc. ICICI Securities, Axis Capital, Citigroup Global Markets India and Ambit Private Limited are the running lead managers to the issue.

Learn about the company

The company was established in the year 2004. Akums is a pharmaceutical contract development and manufacturing organization. The company offers a wide range of pharmaceutical products and services in India and abroad. As of September 30, 2023, the company's major customers include Alembic Pharmaceuticals, Alchem ​​Laboratories, Cipla, Dabur India, Dr. Reddy's Laboratories, Sun Pharmaceutical Industries etc.

Disclaimer:  The information provided in the report is an attempt to keep the readers aware of the stock market movements. It is clarified here that investment in stock market is subject to risks. Investors may also face loss in investment. Our advice is to always consult an expert before investing. Tv9 Gujarati never gives investment advice to anyone.

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