Akums Drugs & Pharmaceuticals is into Healthcare & Pharmaceuticals Pharmaceutical and is looking raise funds through Fresh Issue & Offer for Sale
Akums Drugs & Pharmaceuticals IPO: Akums Drugs & Pharmaceuticals Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 2 per share via initial public offering.
Promoters of Akums Drugs & Pharmaceuticals are Sanjeev Jain, Sandeep Jain, and Akums Master Trust and holds 82.44% stake in the company.
Key Details:
- Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 680 crores and an Offer for Sale up to 18,598,365 Equity Shares..
- ICICI Securities, ICICI Securities, Citigroup Global Markets India, Ambit have been appointed as lead merchant bankers for the proposed IPO.
- It has appointed Link Intime India Private Limited as Registrar and Share transfer Agent.
- Company is yet to finalize issue size and some other important details relating to the IPO.
Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 680 Crs and offer-for-sale (OFS) of up to 18,598,365 equity shares by Sanjeev Jain (Promoter selling shareholder) to offload up to 2,145,965 Equity Shares, Sandeep Jain (Promoter selling shareholder) to offload up to 2,145,965 Equity Shares and Ruby QC Investment Holdings Pte. Ltd. (Investor) to offload up to 14,306,435 Equity Shares..
Objects of the issue:
1) Repayment/prepayment of debt of the company and subsidiaries - Rs387 Cr, 2) Working Capital - Rs55 Cr 3) Pursuing inorganic growth initiatives through acquisitions and 4) General corporate purposes.
About Company:
Akums Drugs established in 2004 is pharmaceutical contract development and manufacturing organization (CDMO), providing pharmaceutical products and services both in India and internationally. Product offerings include branded pharmaceutical formulations and the manufacturing of active pharmaceutical ingredients. Additionally, company specialize in formulation research and development, regulatory dossier preparation and filing for Indian and global markets, and various testing services. Company's has manufacturing units and has received accreditations from global regulatory agencies such as the European Good Manufacturing Practice (EU-GMP), the World Health Organization (WHO) Good Manufacturing Practice, and the United States National Sanitation Foundation.
About Industry:
The pharmaceutical industry in India is characterized by significant challenges, including, high capital expenditure required to establish and maintain sizeable manufacturing units, research and development expertise, trained manpower, consistent quality control, pricing pressure, disruptions within the supply chain, and the long-drawn regulatory and client approval and inspection processes, among others. An increase in chronic patient population, insurance penetration, trade generics, demand from tier II and III cities, and Government schemes focused on drug access are supporting growth in the Indian pharmaceutical market. Contract Development and Manufacturing Organizations assist pharmaceutical companies to employ an asset-light model and access global and specialized expertise while staying abreast with rapid innovation launches.
Source: SEBI, BSE, NSE, DRHP, Akums Drugs & Pharmaceuticals, Industry Data
Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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