![Akums Drugs to raise ₹1,857 cr at price band of ₹646-679 a share; IPO to open on July 30](https://images.assettype.com/fortuneindia%2F2021-12%2Fabbc5e97-36bc-43ea-8b8e-2985d1923b6b%2FCOVID_drug.jpg?w=300&q=95)
Akums Drugs to raise ₹1,857 cr at price band of ₹646-679 a share; IPO to open on July 30
The IPO of Akums Drugs and Pharmaceuticals is a combination of fresh equities worth ₹680 crore and OFS of 1.73 crore shares worth ₹1,177 crore.
The IPO of Akums Drugs and Pharmaceuticals is a combination of fresh equities worth ₹680 crore and OFS of 1.73 crore shares worth ₹1,177 crore.
The pharma company has fixed floor price for share buyback at ₹1,460 per share, a premium of 6.4% over Tuesday's closing price of ₹1,371.70 on the BSE.
The pharma major has agreed to acquire Haleon Plc’s Nicotinell and related portfolio outside of the U.S., for 500 million pounds.
The USFDA has issued a letter for violations of Current Good Manufacturing Practice (cGMP) regulations at Sun Pharma’s Dadra facility.
The board of the homegrown pharma company has approved raising of funds worth ₹7,500 crore via issuance of equity shares.
The promoter group sold 2.53% stake in Cipla, worth around ₹2,637 crore, via block deal today.
In the January to March quarter of FY24, Piramal Pharma’s revenue from operations grew 18% to ₹2,552 crore as against ₹2,164 crore in the corresponding period of the previous year.
The Drugs Controller General of India, Rajeev Singh Raghuvanshi, stated that the decision was taken to facilitate the application process for the industry.
The pharma company has received approval to manufacture and market Mometasone Furoate Monohydrate Nasal Spray 50 mcg, which will be launched in Q1 FY25.
The innovation segment is dominated by pharma services (CDMO, CRO, pharma IT) and health-tech with vaccines and biotech, and med-tech emerging as green shoots