Key Points
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...
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...
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...
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