Akums started preparations for IPO

Akums drugs; Delhi-based Akums Drugs and Pharmaceuticals Ltd has started preparations for IPO in the year 2024. The company has selected four investment banks – ICICI Securities, Citi, Axis Capital and Ambit – as advisors. People with knowledge of this matter have told Moneycontrol about this. Akums is India’s largest contract manufacturing pharma company. Veteran private equity firm Quadria Capital has invested in it. It holds a 15 percent stake in Akums.
No final decision has been taken yet on the size of the IPO but it is being said that it can be at least Rs 1,500-2,000 crore. According to the information received, the objective of the IPO is to raise growth capital to increase capacity, expand international presence and provide an exit to Quadria Capital.