Akums Drugs The listing date of Akams Drugs & Pharmaceuticals IPO has been fixed for tomorrow (Tuesday, August 6). Akams Drugs IPO allotment took place on Friday, August 2. Akams Drugs & Pharmaceuticals IPO received a great response from investors. According to BSE data, the subscription status of Akams Drugs & Pharmaceuticals IPO was 63.44 times. Retail investors subscribed 20.80 times, while non-institutional investors subscribed 42.10 times. The employee portion was subscribed 4.14 times, while qualified institutional buyers (QIBs) received 90.09 times subscription.
The price band was ₹646-₹679
The price band for the issue was fixed at ₹646- ₹679. ₹829 crore was raised from anchor investors. The company has set aside 75% of the issue size for qualified institutional buyers, while 15% for non-institutional investors and 10% for retail investors. Akms Drug was founded in 2004 as a pharmaceutical contract development and production organization (CDO). It provides a wide range of pharmaceutical goods and services in India, locally and internationally.
IPO’s premium in grey market
The GMP of Akams Drugs IPO today i.e. grey market premium is +58. It indicates that the Akams Drugs share price was trading at a premium of ₹58 on the grey market. The expected listing price of Akams Drugs is suggested to be ₹737 per share, which is 8.54% higher than the IPO price of ₹679 considering the top end of the IPO price band and the current premium on the grey market. The grey market activity over the last 13 sessions indicates that the current GMP (₹58) is moving downwards.
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