- Each Rs. 2 per equity share (“Equity Share”) of face value of Rs. 646 to Rs. 679 has been fixed as a prize band
- Eligible employees bidding in the Employee Reservation Portion will receive Rs. A discount of 64 has been given
- Bids/offers will open on Tuesday, July 30, 2024 and close on Thursday, August 1, 2024. The Anchor Investor Bid/Offer will open and close on Monday, July 29, 2024.
- Bids may be made for a minimum of 22 equity shares and in multiples of 22 equity shares thereafter
Ahmedabad, 26 July, 2024 – Akums Drugs and Pharmaceuticals Limited (“AKUMS” or “The Company”) will commence the period for bid/offer for the IPO of its equity shares (“Offer”) on Tuesday, July 30, 2024.
Akums Drugs and Pharmaceuticals Limited's Initial Public Offer to open on July 30, 2024
In this offer, the company offers Rs. 6,800 million worth of equity shares (of the face value of Rs. 2 each) of an equal number of fresh issue (“Fresh Issue”) and an offer for sale by the Company of up to 17,330,435 equity shares (“Offered Shares”) by certain existing shareholders (“Selling Shareholders”). “)Is included. The shares offered included 15,12,000 equity shares by Sanjeev Jain, 1,512,000 equity shares by Sandeep Jain, (collectively, the “Promoter Selling Shareholders”) and 1 by Ruby QC Investment Holdings Pte Ltd (“Ruby QC” or the “Investor Selling Shareholder”). , comprising up to 43,06,435 Equity Shares (such offer for sale of Equity Shares by the Selling Shareholders, the “Offer for Sale”). Ruby QC is backed by Quadria Capital, a leading healthcare focused private equity fund in Asia.
In this offer, subscription by eligible employees is Rs. 150.00 million (Rs. 15.00 crores) including reservation up to the number of equity shares. (“Employee Reservation Portion”).
The Anchor Investor Bid/Offer will open on Monday, July 29, 2024 and close on that day. The Bid/Offer will open on Tuesday, July 30, 2024 and close on Thursday, August 1, 2024 under the period for subscription (“Bid Details”).
The price band of the offer is Rs. 646 to Rs. 679 per equity share (“Price Band”) has been fixed. Bids may be made for a minimum of 22 Equity Shares and in multiples of 22 Equity Shares thereafter (“Minimum Bid Lot”).
Company (1) To repay/prepay the debts of the Company (2) To repay/prepay the debts of its subsidiaries i.e. Maxcure Nutravedics Ltd and Pure & Cure Healthcare Pvt Ltd (3) To fund additional working capital requirements of the Company (4) Inorganic growth initiatives through acquisitions Adarwa and (4) proposes to use the net proceeds from the fresh issue of Equity Shares by the Company for general corporate purposes (the “Offer Purpose”).
These equity shares are being offered through a Red Herring Prospectus of the Company filed with the Registrar of Companies, Delhi and Haryana at New Delhi on July 24, 2024. (“RHP”).
The Equity Shares to be offered through the Red Herring Prospectus are proposed to be listed on stock exchanges such as BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”, “Stock Exchange” together with BSE). For the purposes of the offer, NSE is the designated stock exchange. (“Listing Details”)
This offer is in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended read with Regulation 31 (Issue of Capital and Disclosure Requirements) of the Securities and Exchange Board of India Regulations, 2018 and Regulation 6 of the SEBI ICDR Regulations. (2) amending and pursuant thereto (“SEBI ICDR Regulations”) through a book building process whereby a minimum of 75 per cent of the net offer shall be available for proportionate basis allocation to Qualified Institutional Buyers (“QIBs”) (“QIB Portion”). One-third of which shall be reserved for domestic mutual funds, subject to valid bids received from domestic mutual funds at or above the Anchor Investor Allotment Price in accordance with SEBI ICDR Regulations (“Anchor Investor Portion”). In case of subscription or non-allocation in the Anchor Investor Portion, the remaining Equity Shares will be added to the Net QIB Portion.
Further, five per cent of the net QIB portion shall be available for allotment on a pro rata basis only to Mutual Funds and the remaining portion of the net QIB portion shall be available for allotment on a pro rata basis to all QIB bidders (other than anchor investors) including mutual funds subject to valid bids received at or above the offer price. will be However, if the total demand from mutual funds is less than five percent of the net QIB portion, the remaining equity shares available for allocation in the mutual fund portion will be added to the remaining QIB portion for allocation to the QIB on a pro rata basis.
Further, a minimum of 15 per cent of the net offer shall be available for allotment to non-institutional bidders, out of which (a) one-third of such portion shall be Rs. 2,00,000 and above Rs. 10,00,000 shall be reserved for allotment to applicants having application size (b) Two-thirds of such portion shall be Rs. Bidders having application size of more than 10,00,000 will be available for allotment
which in case of unsubscribed portion in any of these two sub-categories may be allotted to the applicant in the other sub-category of non-institutional bidders and a maximum of 10 percent of the net offer shall be available for allotment to retail individual bidders as per SEBI ICDR Regulations at or above the offer price. Will be subject to bids. In addition, the eligible employees applying under the Employee Reservation Portion will be allotted equity shares on a pro rata basis subject to valid bids received from them at or above the offer price.
All Bidders (except Anchor Investors) have to pay Blocked Amount (“ASBA”) will have to compulsorily participate in this offer through the application supported by the process and provide their respective bank account details in case of UPI bidders (including UPI ID) in which the respective bid amount will be blocked by self-certified syndicate banks under the UPI mechanism as eligibility to participate in the offer. . to anchor investors ASBA Participating in the anchor investor portion of the issue is not permitted through the process. For more details study the Offer Procedures on Page No. 472 of RHP.
ICICI Securities Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited and Ambit Private Limited are the Book Running Lead Managers (“BRLM”) for this offering. All capitalized terms used but not defined herein shall have the meanings set forth in the RHP.
