Akums Drugs and Pharma IPO allotment expected today: Steps to check status on BSE, Link Intime

Akums Drugs and Pharma IPO share allotment is expected to be finalised on Friday, August 2, after the successful subscription of the mainboard public offer.

The initial public offering of Akums Drugs and Pharmaceuticals Limited was open for subscription from July 30 to August 1. Akums Drugs and Pharmaceuticals Limited IPO saw robust demand as the public offer was subscribed 63 times on the final day of bidding.

Investors who participated in the IPO subscription can check the share allotment status on the websites of the stock exchanges and the IPO registrar, Link Intime India Private Ltd.

The IPO allotment details will only be available online once the company finalises the share allocation.

Steps to check Akums Drugs and Pharma IPO share allotment status on BSE

• Open BSE website (https://www.bseindia.com)
• Click on Investor Relations and go to public issues
• Click on Application Status (https://www.bseindia.com/investors/appli_check.aspx)
• Select Akums Drugs and Pharmaceuticals from the list
• Enter PAN details or application number
• Click on the ‘Submit’ button

Here’s how to check Akums Drugs and Pharmaceuticals IPO share allotment on registrar website

• Go to Link Intime India Pvt ltd website (https://www.linkintime.co.in/)
• Click on Investor Services and select Public Issues
• Select Akums Drugs and Pharmaceuticals Ltd
• Enter either your application No, PAN, DP/Client ID or Account No / IFSC
• Submit to check the allotment status

Similarly, investors can check the IPO share allotment status on the NSE website using their PAN and Bank account details. However, to check the share allocation, investors should log in using their User ID and password.

Akums Drugs and Pharmaceuticals IPO details

The mainboard public offer comprised a fresh issue of 1 crore shares worth up to ₹680 crore and an Offer for Sale of 1.73 crore shares worth up to ₹1,176.74 crore.

The company had fixed the price band at ₹646 to ₹679 per share. The minimum lot size for retail investors was 22 shares, amounting to an investment of ₹14,938.

At the close of bidding on August 1 (Thursday), Akums Drugs and Pharmaceuticals IPO received bids for 96.18 crore shares worth ₹65,310 crore against 1.51 crore shares on offer. The issue was booked more than 63 times.

The company offers pharmaceutical products and services in India and global markets.

The company has proposed using the IPO proceeds to repay or prepay its debts and those of its subsidiaries. It will also use the proceeds to fund incremental working capital requirements and pursue inorganic growth opportunities through acquisitions.