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Akums Drugs and Pharmaceuticals Secures ₹828.78 Crore from Anchor Investors Ahead of IPO

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Akums Drugs and Pharmaceuticals Limited has successfully raised nearly ₹828.78 crore from anchor investors ahead of its initial public offering (IPO) set to launch on Tuesday, July 30. This information was shared through the company’s filing on the Bombay Stock Exchange (BSE) on July 29.

The company allocated 1,22,05,912 equity shares at a price of ₹679 per share to its anchor investors. A range of well-known funds participated in this anchor round, including the SBI Healthcare Opportunities Fund, SBI Conservative Hybrid Fund, and several others.

Interestingly, 34.21% of the shares allotted to anchor investors—approximately 41,75,208 shares—were given to domestic mutual funds through 24 different schemes. Among these funds, SBI Healthcare Opportunities Fund received the highest share allocation at 7.84%, followed closely by SBI Conservative Hybrid Fund with 11.09%.

For this IPO, ICICI Securities Limited, Axis Capital Limited, Citigroup Global Market India Private Limited, and Ambit Private Limited are acting as the book runners.

The public issue will open on July 30 and close on August 1. The price band for the shares has been set between ₹646 and ₹679, with investors able to purchase lots of 22 equity shares, and multiples thereof.

The funds raised from this public offering are earmarked for settling debts of Akums Drugs and its subsidiaries, and the company also plans to allocate portions toward further growth initiatives.

Investors can expect to see Akums Drugs and Pharmaceuticals Limited listed on the stock exchanges on August 6.

Rachel Adams

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