Akums Drugs and Pharmaceuticals Ltd, the leading pharmaceutical contract development and manufacturing organization (CDMO), providing a broad spectrum of pharmaceutical products and services, has launched its Initial Public Offering (IPO) today, opening the doors for investors until August 1. The IPO comprises a fresh issue of shares worth ₹680 crore and an Offer for Sale (OFS) of 1.73 crore equity shares totaling ₹1,177 crore, with the latter being sold by promoters Sanjeev Jain, Sandeep Jain, and Ruby QC Investment Holdings Pte Ltd.

The price range for the IPO is set between ₹646 and ₹676 per equity share. In a significant anchor round on the day before the IPO, Akums raised ₹829 crore, with notable investors such as Abu Dhabi Investment Authority, HSBC Global Investment Funds, Smallcap World Fund, SBI Mutual Fund, and others participating. The company allocated 1.22 crore shares to 50 funds at ₹679 per share, amounting to ₹828.78 crore.

Proceeds from the IPO will be utilized for acquisitions to support inorganic growth, debt repayment, working capital needs, and other corporate purposes. The allocation of the issue reserves 75% for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors. The IPO is managed by Axis Capital, Citigroup Global Markets India, Ambit Pvt Ltd, and ICICI Securities.

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Key dates for the IPO process include the finalization of allotments on August 2, initiation of refunds on August 5, demat transfers also on August 5, and the listing of shares scheduled for August 6.

The company’s client list includes prominent names such as Alkem Laboratories, Cipla, Dr. Reddy’s Laboratories, and Sun Pharmaceutical Industries, among others.

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