Akums Drugs and Pharmaceuticals has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The initial share-sale is a combination of fresh issue of equity shares worth Rs 680 crore and an offer-for-sale (OFS) of 1.86 crore shares by promoters and an existing investor.
The company is looking to raise Rs 136 crore through a pre-IPO placement. If such placement is undertaken, then fresh issue size will be reduced. Proceeds from the fresh issue will be used to repay debt, fund working capital requirements of the company, pursue inorganic growth initiatives through acquisition and for general corporate purposes. ICICI Securities, Axis Capital, Citigroup Global Markets India and Ambit are the running lead managers to the issue.
The company is a pharmaceutical contract development and manufacturing organization (CDMO) offering a comprehensive range of pharmaceutical products and services in India and overseas.
Company Name | CMP |
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Sun Pharma Inds. | 1462.50 |
Dr. Reddys Lab | 5784.50 |
Cipla | 1451.25 |
Zydus Lifesciences | 1001.15 |
Lupin | 1587.90 |
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