Akums Drugs IPO listing today: Shares of Akums Drugs and Pharmaceuticals made a positive debut on the stock exchanges on Tuesday. Akums Drugs’ shares were listed at a 6.77 per cent premium at Rs 725 on the BSE, compared to the issue price of Rs 679. On the NSE, the company’s shares also listed at Rs 725, offering investors a return of Rs 46, or nearly 7 per cent, per share after listing.
The grey market premium (GMP) for Akums Drugs IPO shares rose by nearly 7 per cent ahead of the listing on the BSE and NSE, indicating moderate listing gains for investors.
Should you book profit?
While the IPO received a strong subscription of 63.44 times and initial market buzz was positive, the actual listing fell short of expectations, likely due to prevailing market volatility, according to Shivani Nyati, Head of Wealth at Swastika Investmart.
Nyati believes the company’s strong fundamentals and market position offer potential for long-term growth, but investors should carefully assess risks and market volatility. “Investors with a long-term view may consider holding their position, setting a stop loss at the issue price,” Nyati added.
Akums Drugs IPO details
The public issue of Akums Drugs included a fresh issue of 10,014,727 shares, amounting to Rs 680 crore, and an offer for sale of 17,330,435 shares, aggregating up to Rs 1,176.74 crore. The IPO was priced in the range of Rs 646-679 per share, with a lot size of 22 shares. The company fixed the issue price at Rs 679 apiece for the investors.
The public issue received strong demand from investors, being subscribed 63.44 times by the final day of subscription on Thursday, August 1, 2024. The allotment of Akums Drugs IPO shares was finalised on Friday, August 2, 2024.
About Akums Drugs & Pharmaceuticals
Akums Drugs & Pharmaceuticals is a leading pharmaceutical contract development and manufacturing organisation offering a comprehensive range of pharmaceutical products and services in India and overseas. Established in 2004, Akums produces an extensive range of dosage forms, including tablets, capsules, liquid orals, vials, ampoules, blow-filled seals, topical preparations, eye drops, dry powder injections, and gummies, among others.
First Published: Aug 06 2024 | 10:19 AM IST
