Akums Drugs IPO: Latest GMP, subscription status, review, other details. Apply or not?

Akums Drugs IPO: The initial public offering (IPO) of Akums Drugs and Pharmaceuticals Limited opened today. The mainboard IPO will remain open till 1st August 2024, meaning Akums Drugs IPO subscription will remain open from today to Thursday this week. The company Board has fixed Akums Drugs' IPO price band at ₹646 to ₹679 per equity share. The public issue is proposed for listing on BSE and NSE. According to stock market observers, Akums Drugs and Pharmaceuticals Limited shares are available at a premium of ₹181 in the grey market today.

Akums Drugs IPO subscription status

By 2:57 PM on day one of bidding, the book build issue had been booked 0.97 times, the retail portion had been subscribed 2.57 times, and the NII portion had been booked 1.11 times.

Important Akums Drugs IPO details

1] Akums Drugs IPO GMP: According to market observers, shares of the company are available at a premium of ₹181 in the grey market today.

2] Akums Drugs IPO price: The company's main board IPO has a fixed price band of ₹646 to ₹679 per equity share.

3] Akums Drugs IPO date: The initial offer has opened today and will remain open till 1 August 2024.

4] Akums Drugs IPO size: The company aims to raise ₹1,856.74 crore, of which ₹1,176.74 crore is reserved for the Offer for Sale (OFS) route.

5] Akums Drugs IPO lot size: A bidder can apply for lots, and one lot comprises 22 company shares.

6] Akums Drugs IPO allotment date: Share allocation after the IPO bidding closes, can be expected on Friday, 2nd August 2024.

7] Akums Drugs IPO registrar: Link Intime India Private Ltd has been appointed as the official registrar of the public issue.

8] Akums Drugs IPO listing: The book build issue is proposed for listing on BSE and NSE.

9] Akums Drugs IPO listing date: In the wake of the 'T+3' listing rule, we can expect Akums Drugs IPO listing on Tuesday, 6 August 2024.

Akums Drugs IPO: Apply or not?

10] Akums Drugs IPO review: Giving a 'buy' tag to the public issue, Arun Kejriwal, Founder of Kejriwal Research and Investment Services, said, "The company is in the CDMO business, and it is utilizing its maximum capacity. The company is keeping its buffer ahead of the order book, which is also good. The company has higher provisioning in the balance sheet, so its profitability looks small. If we leave the provisioning aside, the valuations of the public offer look attractive. One can apply for the Akums Drugs IPO for list gain."

Giving a 'subscribe' tag to the public issue, Avinash Gorakshkar, Head of Research at Profitmart Securities, said, "The issue is fairly priced, and the primary market mood is also overcrowded. So, one can apply for an IPO to gain a listing. The company's business has high provisioning, so profitability is lower. So, this provisioning may come down in the medium to long term if the company continues to perform. So, one with a medium to long-term perspective may also apply to the book build issue."

Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.