Akums Drugs and Pharma's IPO gets fully-subscribed on Day 1 of offer

The initial public offer of Akums Drugs and Pharmaceuticals got fully-subscribed on the first day of subscription on Tuesday.

The Rs 1,875-crore initial share sale received bids for 2,07,92,684 shares, as against 1,51,62,239 shares on offer, translating to 1.37 times subscription, as per the NSE data.

The issue will conclude on August 1.

The quota for Retail Individual Investors (RIIs) received 3.35 times subscription, while the Non Institutional Investors part got subscribed 1.96 times. The portion for qualified institutional buyers (QIBs) received 43 per cent subscription.

The IPO is a combination of a fresh issue of equity shares worth Rs 680 crore and an offer-for-sale (OFS) of 1.73 crore shares valued at Rs 1,177 crore at the upper-end of the price band by promoters and an existing investor.

Those selling shares in the OFS are Sanjeev Jain, Sandeep Jain and Ruby QC Investment Holdings Pte Ltd.

The public issue has a price range of Rs 646 to Rs 679 per share

Akums Drugs and