Akums Medicine recordsdata draft IPO papers with Sebi; eyes Rs 680 cr by way of recent concern – ET HealthWorld | Pharma

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New Delhi: Akums Drugs and Prescription drugs Ltd has filed draft papers with capital markets regulator Sebi to boost funds by means of an preliminary public providing (IPO). The preliminary share-sale is a mixture of recent concern of fairness shares value Rs 680 crore and an offer-for-sale (OFS) of 1.86 crore shares by promoters and an present investor, in response to the draft pink herring prospectus (DRHP) filed on Saturday.

These promoting shares within the OFS are Sanjeev Jain, Sandeep Jain and Ruby QC Funding Holdings Pte Ltd.

The corporate is trying to increase Rs 136 crore by means of a pre-IPO placement. If such placement is undertaken, then recent concern dimension will probably be lowered. Proceeds from the recent concern will probably be used to repay debt, fund working capital necessities of the corporate, pursue inorganic progress initiatives by means of acquisition and for normal company functions.

Based in 2004, Akums is a pharmaceutical contract growth and manufacturing organisation (CDMO) providing a complete vary of pharmaceutical services and products in India and abroad.

As of September 30, 2023, key shoppers of the corporate embody Alembic Pharmaceuticals, Alkem Laboratories, Cipla, Dabur India, Dr Reddy’s Laboratories, Sun Pharmaceutical Industries, amongst others.

ICICI Securities, Axis Capital, Citigroup Global Markets India and Ambit Pvt Ltd are the operating lead managers to the problem.

  • Revealed On Feb 11, 2024 at 06:32 PM IST

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