After a short break, the main IPO market will see the public offer of Akums Drugs and Pharmaceuticals opening for subscription next week. Additionally, seven other companies are planning to launch their issues in the SME segment.
In addition to these IPOs, 11 listings will debut on the SME platforms of the respective exchanges.
Analysts note that India’s capital markets are crucial for the country’s growth, thanks to advancements in technology, innovation, and digitization. “Both domestic and global investors are showing significant interest in the Indian stock market, making it an attractive destination for investment. This interest, along with sustained activity in IPOs, has propelled the Indian market to become the fifth largest in the world by market capitalization in the fiscal year 2024,” said Pantomath Capital.
Here’s what to look for on the IPO table next week:
Akums Drugs and Pharma IPO
The Rs 1,857 crore initial public offer (IPO) of Delhi-based Akums Drugs and Pharmaceuticals will open for subscription on July 30 and close on August 1. The IPO, which includes a fresh issue of shares worth Rs 680 crore and an offer for sale (OFS) of up to 1.73 crore shares, is priced in the range of Rs 646-679. The net proceeds will be used for debt repayment, funding working capital requirements, pursuing acquisitions, and general corporate purposes.
Akums is one of the largest domestic market-focused Indian CDMOs (Contract Development and Manufacturing Organizations) by revenue, with a market share of 9.3% by value in FY23 in the Indian domestic CDMO market and 8.8% by volume in the total IPM (Indian Pharmaceutical Market) market in FY23. The company’s market share in the Indian domestic CDMO market increased to 29.4% by value in FY23 from 26.7% in FY22.
Axis Capital, ICICI Securities, Citigroup Global Markets India, and Ambit are the lead managers for the issue, while Link Intime India is the registrar.
SME Segment
About five SME IPOs, including Bulkcorp International, Sathlokhar Synergys, Kizi Apparels, Ashapura Logistics, and Rajputana Industries, will open for subscription on July 30 and close on August 1. Sathlokhar Synergys’ Rs 93 crore IPO is the biggest of the lot, followed by Ashapura Logistics, which plans to raise around Rs 52.66 crore.
Further, the public offers of Utssav Gold and Dhariwalcorp will open for subscription on July 31 and August 1, respectively.
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