Akums Drugs stock price made a poor start on the market today. Akums Drugs shares opened at Rs 725 on the NSE and BSE, up 6.8% from the issue price of Rs 679. Shares of Akums Drugs are expected to open between Rs 780 and Rs 800, according to market analysts.
On the last day of bidding today, Akums Drugs & Pharmaceuticals Ltd.’s initial public offering received a solid response from qualified institutional purchasers and non-institutional investors. According to BSE statistics, Akums Drugs & Pharmaceuticals received 63.44 subscriptions for its IPO.
Retail investors subscribed to the quota 20.80 times, while non-institutional investors subscribed 42.10 times. The employee part was booked 4.14 times, compared to 90.09 subscriptions for the Qualified Institutional Buyers (QIBs) section.
The public subscription period for the offer closed on Thursday, August 1, after it began on July 30. The pricing range for the issue was established at Rs 646–Rs 679. The business raised Rs 829 crore from anchor investors ahead of the public subscription period for its share sale debut.
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