Akums Drugs IPO Sees Retail Portion Fully Subscribed Within an Hour, 28% Overall Subscription So Far – Check Latest GMP

Akums Drugs IPO subscription status: The initial public offering (IPO) of Akums Drugs and Pharmaceuticals Ltd saw its retail portion fully subscribed within the first hour of opening. The IPO, priced between ₹646 and ₹679 per share, is open for public subscription from July 30 to August 1. The day before the public subscription began, the company announced it had raised ₹829 crore from anchor investors.

As of 11:30 AM IST, the Akums Drugs and Pharmaceuticals IPO was 30% subscribed. The retail investor portion was subscribed 1.12 times, while non-institutional investors subscribed to 36%. The portion for Qualified Institutional Buyers (QIBs) had yet to be booked, and the employee portion was 45% subscribed.

The IPO received bids for 46,15,248 shares against the 1,51,62,239 shares on offer, according to BSE data.

The company has allocated 75% of the issue size for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors. Investors can bid for a minimum of 22 equity shares and in multiples of 22 shares.

Established in 2004, Akums is a contract development and manufacturing organization (CDO) for pharmaceuticals, offering a wide range of pharmaceutical products and services both in India and internationally.