Shares of Akum Drugs & Pharmaceuticals made a muted Dalal Street debut on Tuesday as the stock listed at Rs 725 on NSE, with a mild premium of 6.77 per cent over its issue price of Rs 679. Similarly, the stock was listed at the same premium and same price on BSE. Listing of Akums Drugs and Pharma has been on the expected line. Ahead of their listing, shares of Akums Drugs were commanding a premium of Rs 40-50 per share ahead of their listing, suggesting a listing pop of 5-6 per cent for the investors. The IPO of Akums Drugs & Pharma ran between July 30 and August 01. The company had offered its shares in the fixed price band of Rs 646-679 per share with a lot size of 22 shares. The company raised a total of Rs 1,856.74 crore from its IPO, which was entirely a fresh share sale of up to Rs 680 crore and an offer-for-sale (OFS) up to 1,73,30,435 equity shares. The issue was overall subscribed a total of 63.56 times. The quota for qualified institutional bidders (QIBs) was booked a solid 90.09 times The quota for non-institutional investors was subscribed 42.21 times. The portions reserved for retail investors and employees saw bidding for 21.30 times and 4.27 times during the three-day bidding process. Incorporated in 2004, Akums Drugs and Pharma is a pharmaceutical contract development and manufacturing organization (CDMO) which offers a comprehensive range of pharma products and services in India and overseas. It is engaged in the manufacture and sale of branded drugs and active pharmaceutical ingredients (APIs). Brokerage firms were mostly positive on the issue, suggesting investors to subscribe to it for a long term. ICICI Securities, Citigroup Global Markets India, Axis Bank and Ambit were the book running lead managers of the Akums Drugs and Pharmaceuticals IPO, while Link Intime India served as the registrar for the issue.