Pharmaceutical CDMO Akums Drugs Files for ₹816 Crore IPO, Eyes Acquisitions
Akums Drugs and Pharmaceuticals Ltd has submitted draft papers to the Securities and Exchange Board of India (Sebi) to initiate an initial public offering (IPO) to raise capital. The IPO consists of a combination of fresh equity shares valued at ₹680 Crore and an offer-for-sale (OFS) of 1.86 Crore shares by promoters and an existing investor, as per the draft red herring prospectus (DRHP) filed on Saturday.
The individuals selling shares in the OFS include Sanjeev Jain, Sandeep Jain, and Ruby QC Investment Holdings Pte Ltd. The company, in collaboration with the Book Running Lead Managers (BRLMs), is contemplating a private placement option for up to 20% of the Fresh Issue or any other permissible amount under prevailing laws. This placement aims to gather cash consideration amounting to Rs. 136 crore before the funding of the Red Herring Prospectus with the Registrar of Companies (ROC). In the event of executing the pre-IPO placement, the minimum offer size, which includes the reduced fresh issue due to the pre-IPO placement and the offer for sale, must represent at least 10% of the post-offer paid-up Equity Share Capital of the company.
The proceeds from the fresh issue are earmarked for debt repayment, meeting working capital requirements, pursuing growth initiatives through acquisitions, and for general corporate purposes.
Established in 2004, Akums is a pharmaceutical contract development and manufacturing organization (CDMO) that offers a wide range of pharmaceutical products and services in India and abroad. As of September 30, 2023, key clients of the company include Alembic Pharmaceuticals, Alkem Laboratories, Cipla, Dabur India, Dr. Reddy’s Laboratories, Sun Pharmaceutical Industries, among others.
The IPO is being managed by ICICI Securities, Axis Capital, Citigroup Global Markets India, and Ambit Pvt Ltd as the lead managers.
Other Links
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,706,222,327 |
| Stories: | 8,444,867 |
Whistler Blowers, Insiders
