AKUMS DRUGS AND PHARMACEUTICALS LIMITED FILES DRHP WITH SEBI

Akums Drugs and Pharmaceuticals Limited (“The Company”) has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).

The Company is the largest India-focused Pharmaceutical contract development and manufacturing organization (“CDMO”) in terms of revenue, production capacity and clients served during the Financial Year 2023 (among CDMOs assessed by F&S) according to F&S Report.

The Company plans to raise funds through initial public offerings of Equity Shares (face value ₹ 2 each). The Issue Offer comprises of fresh issue of Equity Shares aggregating up to ₹ 680 crore (The “Fresh Issue”) and offer for sale up to 18,598,365 Equity Share by Selling Shareholders (The “Offer for Sale”).

The company proposes to utilize net proceeds from fresh issue towards – 1. Repayment/ prepayment of indebtedness of our Company and its Subsidiaries; 2. Funding incremental working capital requirements of our Company; 3. Pursuing inorganic growth initiatives through acquisitions; and 4.  General corporate purposes.

The Offer for Sale comprises of – up to 2,145,965  Equity Shares by Sanjeev Jain , up to 2,145,965  Equity Shares by Sandeep Jain  (collectively, the “Promoter Selling Shareholders”), and up to 14,306,435  Equity Shares by Ruby QC Investment Holdings Pte. Ltd. (collectively, the “Investor Selling Shareholders). (Combined both the “Promoter Selling Shareholders” and the “Investor Selling Shareholders”, “Selling Shareholders”).

The Equity Shares that will be offered through the Red Herring Prospectus are proposed to be listed on the BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”)

ICICI Securities Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited and Ambit Private Limited are the Book Running Lead Managers to the issue.