Quadria India-backed Akums Drugs’ Rs.1,875-Cr IPO subscribed 63x

The initial public offer (IPO) of contract manufacturer Akums Drugs and Pharmaceuticals backed by Quadria India has received 63 times subscription. The INR 1,875 crore initial share sale received bids for 96,36,79,134 shares against 1,51,62,239 shares on offer.The IPO is a combination of a fresh issue of equity shares worth INR 680 crore and OFS (an offer-for-sale) of 1.73 crore shares with a price range of INR 646 -679 per share. Ruby QC Investment Holdings Pte (a unit of Quadria Capital) will offload 1.43 crore shares.The Qualified Institutional Buyers (QIBs) segment received 90.09 times subscription, while that of Non-Institutional Investors (NIIS) got subscribed 42.21 times. The quota for Retail Individual Investors (RIIS) attracted 21.30 times subscription.