Akums Drugs IPO Subscription – Live Status on Day 3

Last updated on August 2, 2024

Akums Drugs IPO subscription started on 30 July 2024 and will close on 1 August 2024. Akums Drugs plans to raise around INR 1,799.55 – 1,856.74 crores via the IPO. The price band is fixed at INR 646 – 679 per share. The Akums Drugs IPO market lot has 22 shares and the minimum application amount is INR 14,938. The retail quota is 10%, QIB is 75% and NII is 15%.

Check Akums Drugs IPO subscription status here. The subscription figures are taken from BSE and NSE and are updated at regular intervals. The public issue has QIB, NII, and Retail categories for the subscription. Akums Drugs IPO subscription status is segregated by days and investor categories here.

Akums Drugs IPO Subscription Status – Live Updates

Anchor allocation of 1,22,05,912 shares is not included in the above calculations.

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Akums Drugs – Business Background

Akums Drugs and Pharmaceuticals is one of the largest domestic market-focused Indian contract development and manufacturing organizations (CDMOs) serving the Indian pharmaceutical market (IPM). During the Financial Year 2024, the company held a market share of 30.2% in the Indian domestic CDMO market by value, up from 26.7% in the Financial Year 2021. As a CDMO, the company produces a wide range of dosage forms, including tablets, capsules, liquid orals, vials, ampoules, blow-filled seals, topical preparations, eye drops, dry powder injections, and gummies.

The company has manufactured 4,146 commercialized formulations across over 60 dosage forms. The company manufactured formulations for 26 of the leading 30 pharmaceutical companies in terms of sales in India. The CDMO business, operates 10 manufacturing units, with a cumulative formulations manufacturing capacity of 49.23 billion units annually, as of 31 March 2024.

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Investor Categories in Akums Drugs IPO Subscription

The three most important categories of IPO investors defined by SEBI are part of the Akums Drugs IPO.

Qualified Institutional Buyers (QIB) – Examples of QIBs are Foreign Portfolio Investors (FPIs), Scheduled Commercial Banks, Mutual Funds, Venture Capital Funds, Foreign Venture Capital Investors (FVCIs), Alternative Investment Funds (AIFs), Insurance Companies, Provident Funds and Pension Funds with a minimum corpus of INR 250 million.

Generally, 50% of the offer is reserved for QIBs. Some of these are classified as anchor investors which work towards stabilizing an IPO.

Non-Institutional Investor (NII) – These are affluent investors who can invest more than INR 200,000. In other words, these are High Networth Individuals (HNIs). Generally, 15% of the offer is reserved for this category. Bids in the category need to exceed INR 200,000. Typical examples include Category III FPIs, resident Indian individuals, HUFs (in the name of Karta), companies, corporate bodies, eligible NRIs, scientific institutions, societies, and trusts.

The NII category is further divided into two – big and small – the threshold application amount being INR 10,00,000 (INR 10 lakh).

Retail Individual Investor (RII) – This category is purely meant for small investors, whose bid must not exceed INR 200,000 per person. Usually, 35% of total shares are reserved for this category in the case of a company with profitable operations. In the event of the IPO-bound company not fulfilling this criterion, only 10% of shares are reserved for retail investors. 

Employee – Shares reserved for company employees are not part of the Net Offer and there may additionally be a discount on offer price to encourage employees to subscribe. Investors in the employee category may also apply under the retail category in an IPO. Therefore, this category of IPO investors has a unique advantage.

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