Akums Drugs and Pharmaceuticals Limited IPO Opens On July 30. Check IPO Details Issue Date Price

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Akums Drugs and Pharmaceuticals Limited IPO Opens On July 30. Check IPO Details Issue Date Price

July 29, 2024
Akums Drugs and Pharmaceuticals Limited IPO Opens On July 30. Check IPO Details Issue Date Price

Akums Drugs and Pharmaceuticals Limited is coming out with an initial public offer to raise Rs. 1857 crores from the market.

Below are the details of the Akums Drugs and Pharmaceuticals Ltd IPO:

  • Issue opens – July 30 (Tuesday)
  • Issue closes – August 01 (Thursday)
  • Issue size – Rs. 1857 crores
  • Price band – Rs. 646 to 679 per equity share
  • Bid lot – 22 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • Incorporated in 2004, Akums Drugs and Pharmaceuticals is a contract development and manufacturing organization ("CDMO") offering a comprehensive range of pharmaceutical products and services in India and overseas.
  • The company is also engaged in the manufacturing and sale of branded pharmaceutical formulations and active pharmaceutical ingredients ("APIs"). The other services include R&D, filing of regulatory dossiers in the Indian and global markets, and other testing services.
  • Akums Drugs and Pharmaceuticals is the largest India-focused CDMO in terms of revenue, production capacity and clients served during the FY2023.
  • The company had a market share of 30.2% of the Indian domestic CDMO market by value in FY2024, which increased from 26.7% during the FY 2021.
  • The company has procured 5 patents for various dosage forms, formulations and processes as of March 31st, 2024. Additionally, the company holds 1,432 registered trademarks and has 506 pending trademark applications in several classes.
  • The company operates 12 manufacturing units (8 in Haridwar, Uttarakhand, 1 in Kotdwar, Uttarakhand, 1 unit in Baddi, Himachal Pradesh and 1 unit in each of Dera Bassi and Lalru, Punjab). Some of the manufacturing units have been accredited by various global regulatory agencies such as the European Good Manufacturing Practice (“EU-GMP”), the World Health Organization Good Manufacturing Practice (“WHO-GMP”) and the United States National Sanitation Foundation (“US NSF”). Further, the company expects its new injectable facility to be operational in FY 2025.
  • The company has 4 R&D centers, 3 dedicated to CDMO and formulations businesses and 1 at Barwala, Haridwar, for API business. API R&D center features a small volume, highly potent API manufacturing unit. The R&D focus has led the company to win 45 DCGI approvals in FY24, nearly 2.7 times the number of approvals by 3 of its peers combined for FY24.
  • The company’s CDMO business client base comprised of 1,524 Indian and MNC pharmaceutical and wellness companies as on March 31st,2024 as against 1,386 as of March 31, 2022. The diverse client base includes pharmaceutical companies, nutraceutical companies, cosmo-derma companies, wellness companies, e-commerce companies, healthcare providers and central and state government entities. The company manufactured formulations for 26 of the leading 30 pharmaceutical companies in terms of sales in India, in FY2024.

Issue Size : Rs. 1857 Crores

Employee Reservation: Shares aggregating up to Rs. 15 crores

Employee Discount: Rs. 64 per share

Issue break-up :

QIB – 75% of the offer – Rs. 1381.30 Cr.
NIB – 15 % of the offer – Rs. 276.26 Cr.
RET – 10% of the offer – Rs. 184.17 Cr.

Listing : BSE & NSE

Registrar : Link Intime India Private Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note:

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Thursday, 1st August 2024.

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