According to the company’s filing on the Bombay Stock Exchange (BSE), Ecums Drugs & Pharmaceuticals Ltd said the company has raised about ₹828.78 crore from anchor investors ahead of its initial public offering on Tuesday, July 30.
The pharmaceutical manufacturing company on Monday, July 29, allotted 1,22,05,912 or 1.22 crore equity shares to its anchor investors at ₹679 per share, according to exchange filings.
These included 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 Ltd, BlackRock Emerging Frontiers Master Fund Ltd, BlackRock Global Funds – India Fund . Top anchor allocation for share issue in the anchor round on Monday.
According to the filing, out of the total 1.22 crore equity shares allotted to anchor investors, 41,75,208 (41.75 lakh) or 34.21 percent shares were allotted to domestic mutual funds, which had applied through 24 schemes.
SBI Healthcare Opportunities Fund and SBI Conservative Hybrid Fund got the highest equity share allocation at 7.84 percent and 11.09 percent, respectively.
ICICI Securities Ltd, Axis Capital Ltd, Citigroup Global Markets India Pvt Ltd and Ambit Pvt Ltd are the bookrunners for the public issue.
Acmes Drugs & Pharmaceuticals IPO Details:
The pharmaceutical company will open for public subscription on 30 july and close for subscription on August 1. The price band for the public issue has been set at ₹646 to ₹679 per equity share, face value at ₹2 per share. share.
The company has fixed the lot size at 22 equity shares and multiples of 22 equity shares. The money raised from the public issue is to be used to settle the debt of Akums Drugs and its subsidiaries. The company also aims to fund working capital requirements and growth initiatives. Acmes Drugs & Pharmaceuticals Ltd is likely to list on the exchanges on August 6.