Akums Drugs and Pharmaceuticals Limited’s Initial Public Offer to open on July 30

Ahmedabad, July 26, Akums Drugs and Pharmaceuticals Limited shall open the Bid / Offer Period in relation to its initial public offer of the Equity Shares on Tuesday, July 30, 2024.
According to a statement issued by the company here today The Offer comprises a fresh issue of such number of Equity Shares (face value ₹ 2 each) by the Company aggregating up to  ₹ 6,800 million (the “Fresh Issue”) and offer for sale of up to 17,330,435 Equity Shares (“Offered Shares”) by certain existing shareholders of the Company (the “Selling Shareholders”). The Offered Shares comprises up to 1,512,000 Equity Shares by Sanjeev Jain, up to 1,512,000 Equity Shares by Sandeep Jain, (collectively, the “Promoter Selling Shareholders”) and up to 14,306,435 Equity Shares by Ruby QC Investment Holdings Pte. Ltd. (The “Ruby QC” or “Investor Selling Shareholder”) (such offer for sale of the Equity Shares by the Selling Shareholders, the “Offer for Sale”). Ruby QC is backed by Quadria Capital, a prominent healthcare focused private equity fund in Asia.
This Offer includes a reservation of up to such number of Equity Shares aggregating up to ₹ 150.00 million (₹ 15.00 crore) for subscription by eligible employees. (the “Employee Reservation Portion”)
The Anchor Investor Bid/Offer Period opens and closes on Monday, July 29, 2024. The Bid/Offer Period will open on Tuesday, July 30, 2024 for subscription and close on Thursday, August 1, 2024. (“Bid Details”)
The Price Band of the Offer has been fixed at ₹ 646 to  ₹ 679 per Equity Share (the “Price Band”). Bids can be made for a minimum of 22 Equity Shares and in multiples of 22 Equity Shares thereafter. (the “Minimum Bid Lot”).
The Company proposes to utilise the Net Proceeds from Fresh Issue of Equity Shares by the Company towards Repayment/ prepayment of indebtedness of the Company, Repayment/ prepayment of indebtedness of its Subsidiaries namely, Maxcure Nutravedics Limited and Pure and Cure Healthcare Private Limited, Funding incremental working capital requirements of the Company, Pursuing inorganic growth initiatives through acquisitions and General corporate purposes. (the “Objects of the Offer”).