Akums Drugs IPO Allotment Status Set for Today

Today marks an exciting day for investors as the allotment status for the Akums Drugs IPO is scheduled to be released. The initial public offering attracted significant interest from investors during its three-day subscription period, which closed on August 1, 2024.

The IPO was available at a price range of Rs 646 to Rs 679 per share, and it generated remarkable interest, getting oversubscribed by a whopping 63.44 times. The shares are set at an issue price of Rs 679.

Breaking down the subscription numbers, qualified institutional buyers (QIBs) led the demand at 20.80 times, followed by non-institutional investors (NIIs) at 42.10 times. Retail investors also showed strong participation, with their portion being subscribed 20.80 times.

Investors eager to find out if they received shares can check the allotment status through the official BSE site or Link Intime India‘s registration portal. Direct links for checking the status have been provided for convenience.

Currently, the unlisted shares of Akums Drugs are trading at a premium of around Rs 140-141, suggesting a strong market response ahead of the listing. If these trends hold, shares are expected to debut at around Rs 820-821 on August 6, which could yield a more than 20% return.

Founded in 2004, Akums Drugs & Pharmaceuticals positions itself as a key player in the pharmaceutical contract development and manufacturing sector. The company offers a diverse range of pharmaceutical products, including tablets, capsules, and injectable forms, among others.

As the IPO process unfolds, it’s clear that investors have a lot to look forward to in the coming days, with potential new opportunities in store from this promising pharmaceutical company.