ADIA Invests USD 6 Million in India's Akums Drugs' IPO as Subscription Begins

Abu Dhabi Investment Authority (ADIA) has emerged as a key investor in India's Akums Drugs and Pharmaceuticals as the company opens its IPO subscription.

The pharmaceuticals manufacturer began its IPO subscription today, having raised approximately INR 8.28 billion from anchor investors. This group includes notable names such as BlackRock Emerging Frontiers Master Fund Limited, SBI Healthcare Opportunities Fund, SBI Conservative Hybrid Fund, Smallcap World Fund, DSP India Fund, and IIFL Asset Management Limited.

ADIA has allocated INR 500 million ($6 million) to Akums Drugs, translating to 736,362 shares and representing 6.03% of the anchor investment portion, as reported in a filing on the Bombay Stock Exchange.

On Monday, July 29, Akums Drugs allocated a total of 12,205,912 equity shares at INR 679 per share to its anchor investors. The public subscription for Akums Drugs' IPO opened on July 30 and will remain open until August 1, with a price band set between INR 646 and INR 679 per share.

Source: Bindu Rai / Zawya