Jul 26, 2024
By: Sourabh Jain
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Delhi-based Akums Drugs’ initial public offering (IPO) will open on Tuesday, July 30, and will close on Thursday, August 1.
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Akums Drugs has fixed a price band of ₹649-₹679 per share for its public issue.
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Akums Drugs is a Delhi-based pharmaceutical contract development and manufacturing organization.
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Akums Drugs is looking to raise ₹1,856.74 crore from the current IPO. This includes a fresh issue of ₹680 crore and an offer for sale (OFS) component of ₹1,176.74 crore.
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Investors can bid for a minimum of 22 shares and in multiples of 22 shares thereafter.
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The company, founded in 2004 offers a comprehensive range of pharmaceutical products and services in India and overseas. In FY23, the company manufactured formulations for 26 out of the top 30 pharmaceutical companies in India.
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The company’s income was ₹4,212.21 crore in FY24, up from ₹3,700.93 crore in FY23. The company reported a profit of ₹0.79 crore in FY24, down from ₹97.82 crore profit reported in FY23.
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The company is engaged in a highly regulated industry, which is subject to strict regulations. Any changes in regulations may adversely impact the company.
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The funds raised will be used for repayment of indebtedness of the company and its subsidiaries, funding incremental working capital, acquisitions and for general corporate purposes.
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