The initial public offering (IPO) of Akums Drugs and Pharmaceuticals Limited is set to list its shares today, Tuesday, August 6, 2024. According to a notice from the BSE, the shares will be available for trading on both the BSE and NSE starting at 10:00 AM. Recently, the grey market premium (GMP) for Akums Drugs has dropped significantly, mainly due to global market downturns.
As of today, the GMP for Akums Drugs IPO is ₹86, down from ₹140 last Friday. Despite this decline, market experts remain positive about the stock’s debut.
Predicted Listing Price for Akums Drugs IPO
Prathamesh Masdekar, a Research Analyst at StoxBox, is optimistic about Akums Drugs’ listing. He highlights that Akums Drugs is a contract development and manufacturing organization (CDMO) that offers a wide range of pharmaceutical products and services both in India and internationally. The company is well-established in the Indian pharmaceutical industry and has a strong export presence. Masdekar expects the shares to list at a 16 percent premium.
Amit Goel, Co-Founder & Chief Global Strategist at Pace 360, also has a positive outlook on the listing. He notes that Akums Drugs has significantly increased its domestic market share from 26.7 percent in FY21 to 30.2 percent in FY24. Goel mentions that the IPO is priced at a Price-to-Earnings ratio of 29.79, which he finds high, but he still expects the shares to list at around ₹780 to ₹800, indicating a potential listing gain of about 15 percent.
Current GMP for Akums Drugs IPO
Today, the GMP for Akums Drugs’ shares is ₹86, suggesting that the expected listing price will be around ₹765. This indicates a potential listing gain of about 13 percent for those who were allocated shares.
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