Akums Drugs and Pharmaceuticals Limited said the company has raised nearly ₹828.78 crore from anchor investors ahead of its initial public offering on Tuesday, July 30, according to the company filing on the Bombay Stock Exchange (BSE).
The pharmaceutical manufacturing company allocated 1,22,05,912 or 1.22 crore equity shares at ₹679 per share to its anchor investors on Monday, July 29, as per the exchange filing.
SBI Healthcare Opportunities Fund, SBI Conservative Hybrid Fund, International Growth and Income Fund, Smallcap World Fund, Abu Dhabi Investment Authority, DSP India Fund, IIFL Asset Management Limited, BlackRock Emerging Frontiers Master Fund Limited, BlackRock Global Funds - India Fund, were amongst the top anchor allocations for the shares issue in the anchor round on Monday.
Out of the total 1.22 crore equity shares allocated to the anchor investors, 41,75,208 (41.75 lakh) or 34.21 per cent shares were allotted to domestic mutual funds that applied through 24 schemes, according to the filing.
SBI Healthcare Opportunities Fund and SBI Conservative Hybrid Fund got the most equity share allocation at 7.84 per cent and 11.09 per cent, respectively.
ICICI Securities Limited, Axis Capital Limited, Citigroup Global Market India Private Limited, and Ambit Private Limited are the book runners for the public issue.
The pharmaceutical company will open for public subscription on Tuesday, July 30, and close for subscription on Thursday, August 1. The price band for the public issue has been set at ₹646 to ₹679 per equity share of face value of ₹2 per share.
The company has fixed the lot size of 22 equity shares and in multiples of 22 equity shares. The money raised from the public issue is to be used to settle the debts of the Akums Drugs and its subsidiaries. The company also aims to put forward money towards working capital requirements and growth initiatives. Akums Drugs and Pharmaceuticals Limited is likely to list on the exchanges on August 6.
