Akums Drugs & Pharmaceuticals IPO Opens, Should You Subscribe To The Issue?

The Rs 1,856.74 crore initial public offering (IPO) of Akums Drugs and Pharmaceuticals kicks off for bidding today, Tuesday, July 30. The pharma player will offer its shares in the fixed price band of Rs 646-679 apiece, with a lot size of 22 equity shares and multiples thereafter. The issue is open for bidding until Thursday, August 1. Akums Drugs and Pharmaceuticals is a pharmaceutical contract development and manufacturing organization (CDMO) offering 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). The IPO includes a fresh share sale component of Rs 680 crore and an offer-for-sale (OFS) of up to 1,73,30,435 shares by its promoters and existing shareholders. The net proceeds from the issue will be utilized for repayment/prepayment of certain debts, funding working capital requirements, inorganic growth, and general corporate purposes. Catch Pawan Nahar on the Daily Calls show for a detailed report.