Akums Drugs IPO: Allotment Status, Subscription Details, and Listing Expectations
The much-anticipated basis of allotment for Akums Drugs and Pharmaceuticals’ initial public offering (IPO) is set for today, August 2, 2024. The IPO, which concluded its three-day subscription period on Thursday, August 1, 2024, witnessed robust investor interest, achieving an impressive overall subscription rate of 63.44 times.
Akums Drugs offered its shares within a price band of ₹646-679, with a minimum lot size of 22 shares. The company has officially set the final issue price at the upper end of the band, ₹679 per share.
Subscription Breakdown by Investor Category
The IPO garnered varied levels of enthusiasm across different investor segments:
1. Qualified Institutional Buyers (QIBs): Led the pack with a subscription rate of 20.80 times
2. Non-Institutional Investors (NIIs): Showed strong interest with a 42.10 times subscription
3. Retail Investors: Matched the QIBs’ enthusiasm with a 20.80 times subscription rate
How to Check Your Allotment Status
Investors eager to know their allotment status can do so through two official channels:
1. BSE Website: Visit [https://www.bseindia.com/investors/appli_check.aspx](https://www.bseindia.com/investors/appli_check.aspx)
2. Link Intime India (Registrar): Access [https://linkintime.co.in/initial_offer/public-issues.html](https://linkintime.co.in/initial_offer/public-issues.html)
Grey Market Premium and Listing Expectations
The grey market is showing positive signals for Akums Drugs:
– Current Grey Market Premium (GMP): Approximately ₹140-141
– Premium Percentage: 20-21% over the IPO upper price band
Based on these indicators, market watchers predict a favorable listing for Akums Drugs. The shares are expected to debut on both the BSE and NSE on Tuesday, August 6, 2024.
Projected Listing Price
Considering the current GMP, analysts anticipate a listing price in the range of ₹820-821 per share. This projection suggests a potential Day 1 return of over 20% for IPO investors.
Company Profile: Akums Drugs & Pharmaceuticals
Founded in 2004, Akums Drugs & Pharmaceuticals has established itself as a prominent player in the pharmaceutical contract development and manufacturing (CDMO) sector. The company offers a wide array of pharmaceutical products and services, catering to both domestic and international markets.
Akums’ product portfolio encompasses various dosage forms, including:
– Oral solids (tablets and capsules)
– Liquid formulations
– Injectable products (vials, ampoules, and dry powder injections)
– Topical preparations
– Ophthalmic solutions
– Innovative formats like gummies
As a versatile CDMO, Akums Drugs & Pharmaceuticals continues to play a crucial role in the pharmaceutical manufacturing landscape, contributing to the production of diverse medicinal formulations.
