IPO There is good news for investors. From today, they have the opportunity to invest in the pharmaceutical company Akams Drugs and Pharmaceuticals. Let us tell you that the IPO of Akams Drugs will open on Tuesday and close on August 1. For this, the price range has been fixed from Rs 646 to Rs 679 per share. About Rs 1,875 crore is expected to be raised through the IPO. The IPO offers new equity shares worth Rs 680 crore and 1.73 crore shares held by promoters and existing investors for sale. The statement said, the IPO includes fresh shares worth Rs 680 crore and an offer for sale (OFS) of 1.73 crore shares worth Rs 1,177 crore.
The company was formed in 2004
The company has reserved shares worth Rs 15 crore for its employees in the public issue. Acms was formed in 2004. It is a pharmaceutical contract development and manufacturing organization (CDMO) offering a wide range of pharmaceutical products and services in India and abroad.
Raised Rs 829 crore from big investors
Akms Drugs and Pharmaceuticals has raised Rs 829 crore from big investors ahead of the opening of its initial public offering (IPO). The company said on Monday that these investors include Abu Dhabi Investment Authority, Smallcap World Fund, HSBC Global Investment Funds, SBI Mutual Fund, Bandhan MF, Motilal Oswal MF, Aditya Birla Sun Life MF, SBI Life Insurance Company, HDFC Life Insurance Company and ICICI Prudential Life Insurance. According to a circular issued on the National Stock Exchange (NSE) website, the company has decided to allot 1.22 crore shares to 50 funds at Rs 679 per share, taking the transaction size to Rs 828.78 crore.
What is going on in the market GMP
Akams Drugs & Pharmaceuticals IPO GMP today grey market premium is +190. It indicates that Akams Drugs share price is trading at a premium of ₹190 in the grey market on Tuesday. Considering the upper end of the IPO price band and the existing premium in the grey market, the estimated listing price of Akams Drugs share is indicated as ₹869 per share, which is 27.98% higher than the IPO price of ₹679. The ‘grey market premium’ reflects the willingness of investors to pay more than the issue price.
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