Akums Drugs and Pharma files draft IPO papers with Sebi

New Delhi: Akums Drugs and Pharmaceuticals Ltd has filed draft papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The initial share-sale is a combination of fresh issue of equity shares worth Rs 680 crore and an offer-for-sale (OFS) of 1.86 crore shares by promoters and an existing investor, according to the draft red herring prospectus (DRHP) filed on Saturday.

Those selling shares in the OFS are Sanjeev Jain, Sandeep Jain and Ruby QC Investment Holdings Pte Ltd.
The company is looking to raise Rs 136 crore through a pre-IPO placement. If such placement is undertaken, then fresh issue size will be reduced. Proceeds from the fresh issue will be used to repay debt, fund working capital requirements of the company, pursue inorganic growth initiatives through acquisition and for general corporate purposes.
Founded in 2004, Akums is a pharmaceutical contract development and manufacturing organisation (CDMO) offering a comprehensive range of pharmaceutical products and services in India and overseas.
As of September 30, 2023, key clients of the company include Alembic Pharmaceuticals, Alkem Laboratories, Cipla, Dabur India, Dr Reddy’s Laboratories, Sun Pharmaceutical Industries, among others.
ICICI Securities, Axis Capital, Citigroup Global Markets India and Ambit Pvt Ltd are the running lead managers to the issue.

Read also: No safety data available, Conduct Phase-III CT: CDSCO Panel Tells Akums on Norethindrone, Estradiol, Relugolix film-coated tablet

Akums Drugs & Pharmaceuticals Ltd. is a contract-manufacturing pharmaceutical company of India. The organization deals in the manufacturing and export of formulations in a wide spectrum of dosage forms & therapeutic segments. The company is currently supplying to almost all Indian and multinational pharmaceutical companies across the globe. The 10 state-of-the-art facilities are dedicated to oral solid dosage forms (with separate units for beta lactum and non-beta lactum formulations), Oral liquid dosage forms, Sterile dosage forms (Injectable, eye, ear & nasal), hormonal (oral and injectable), Ointments & cosmetics, Ayurvedic, food supplements & nutraceuticals and animal health care.

The organization is certified with WHO-GMP, ISO 9001 : 2008, ISO 14001:2004 certificates and various international accreditations, like; ANVISA, Brazil, NAFDAC, Nigeria, FDB, Ghana, PMPB, Malawi amongst others.

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