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19 Nov 2024
The Akums Drugs and Pharmaceuticals IPO has garnered significant attention as it opened for public subscription on July 30, 2024, and closed on August 1, 2024. Here are the key highlights and updates regarding the IPO:
In FY24, Akums reported a revenue increase of 14% year-on-year, reaching ₹4,178 crore, although its profit after tax saw a significant decline to ₹79 lakh from ₹97.8 crore the previous year.
As of the latest updates, the shares are trading at a grey market premium of ₹170, suggesting a potential listing gain of approximately 25% over the issue price. This indicates positive market sentiment towards the IPO.
Most analysts have recommended subscribing to the IPO, citing Akums' position as the largest contract development and manufacturing organization (CDMO) in India. Analysts highlight the company's robust growth prospects, diverse client base, and strategic initiatives aimed at expanding its market presence.
Overall, the Akums Drugs and Pharmaceuticals IPO has received a favorable response from investors and analysts alike, reflecting confidence in the company's growth trajectory in the pharmaceutical sector.
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